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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Madras High Court Allows Revision Petition, Sets Aside Order Taking Cognizance Against Petitioner in Criminal Case. Court holds that once police files final report dropping accused, Magistrate cannot take cognizance without following procedure under Section 173(8) Cr.P.C. for further investigation.

The petitioner, Vijitha, was initially named as an accused in Crime No.318 of 2010 along with her husband (A1) for alleged offences including attempt ...

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High Court of Karnataka Allows Revision Petition in Negotiable Instruments Act Case — Conviction Set Aside Due to Non-Examination of Complainant. Failure to examine complainant under Section 200 CrPC renders complaint not maintainable and conviction unsustainable.

The petitioner, Sri B G Uday, filed a criminal revision petition under Section 397 read with Section 401 of the Code of Criminal Procedure, 1973, chal...

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Bombay High Court Allows Petition Challenging Intervention Order in Section 156(3) Cr.P.C. Proceedings. Proposed Accused Have No Right of Hearing at Pre-Cognizance Stage Under Section 156(3) of Code of Criminal Procedure, 1973.

The petitioner, Mrs. Laxmi Mukul Gupta, filed an application under Section 156(3) of the Code of Criminal Procedure, 1973 before the Metropolitan Magi...

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Bombay High Court Upholds Validity of Section 138 NI Act and Directs Magistrates to Accept Complaints Without Preliminary Inquiry. Section 138 Negotiable Instruments Act, 1881 is constitutionally valid and Section 200 CrPC does not require preliminary inquiry in cheque dishonour cases.

The judgment arises from a batch of petitions challenging the constitutional validity of Section 138 of the Negotiable Instruments Act, 1881 and the p...