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Supreme Court Upholds Uttar Pradesh Board of Madarsa Education Act, 2004 as Valid Regulatory Legislation. High Court erred in striking down entire Act; provisions conflicting with UGC Act are severable.

The Supreme Court considered appeals against the Allahabad High Court's judgment striking down the Uttar Pradesh Board of Madarsa Education Act, 2004 ...

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Bombay High Court Quashes FIR Against Recovery Officer in CBI Corruption Case — Applicant Not a Public Servant Under Prevention of Corruption Act. Employee of Private Recovery Agency Cannot Be Prosecuted Under Section 7 of PC Act as He Is Not a 'Public Servant' Under Section 2(c) of the Act.

The applicant, Prashant Vinayakrao Sable, was employed as a Recovery Officer with M/s. Yash Consultancy Services, a private recovery agency engaged by...

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Supreme Court Dismisses Appeals in Partition Suit Involving Compromise Decree Validity. Dispute pertained to joint family properties and a compromise decree under Order XXIII Rule 3 of Code of Civil Procedure, 1908, with allegations of sham nature.

The Supreme Court of India heard two civil appeals arising from a Division Bench judgment of the Madras High Court dated 23.11.2011, which had dismiss...

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Bombay High Court Quashes Reassessment Order in Capital Gains Tax Case — Transfer of Shares of Foreign Company Not Taxable in India. Shares of a Bermuda company transferred outside India do not constitute transfer of a capital asset situated in India under Section 2(14) of the Income Tax Act, 1961.

The petitioner, Techpac Holdings Ltd., a company incorporated in Bermuda, challenged an assessment order dated 25th March 2013 passed by the Deputy Co...

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Bombay High Court Dismisses Winding-Up Petition by Deutsche Bank Against Finolex Industries Under Section 433(e) Companies Act, 1956 — Disputed Derivative Transaction Debt Precludes Summary Winding-Up. Court Holds That Winding-Up Petition Is Not a Debt Recovery Mechanism and Dismisses Petition with Costs.

The judgment arises from a Company Petition filed by Deutsche Bank AG, Mumbai Branch, seeking winding-up of Finolex Industries Limited under Section 4...