Search Results for "RBI Master Circular"

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Supreme Court Allows Banks to Deny Legal Representation in Wilful Defaulter Proceedings. In-House Committees of Banks Are Not Tribunals Under Section 30 of Advocates Act, 1961, and Right to Lawyer Is Not Part of Natural Justice.

The Supreme Court considered appeals against the Delhi High Court judgment which held that a borrower is entitled to be represented by a lawyer before...

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Bombay High Court Dismisses Appeal Against Arbitral Award in Derivative Transaction Dispute. Challenge Under Section 34 of Arbitration and Conciliation Act, 1996 Fails as Award Not Patently Illegal or Perverse.

The appeal arose from a judgment of a learned Single Judge dated 6 July 2012 dismissing a petition under Section 34 of the Arbitration and Conciliatio...

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Supreme Court Upholds Penalty on Managing Director in FEMA Violation Case — Failure to Complete Import Formalities Constitutes Continuing Offence. Liability under Section 10(6) of FEMA, 1999 attaches to person responsible for conduct of business regardless of change in management.

The appeal arose from complaint proceedings initiated by the Enforcement Directorate under Section 16(3) of the Foreign Exchange Management Act, 1999 ...

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NCLAT Allows Appeal Against Dismissal of Section 7 IBC Application by Financial Creditor. Loan Agreement and Default Established Through Signed Documents and Acknowledgment of Debt.

The present appeal was filed by Desana Impex Limited (Appellant), a Non-Banking Financial Corporation (NBFC) registered under the Companies Act, 2013 ...

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High Court Allows Writ Petition by Retired SIDBI Employees -- Quashes Circular Denying Pension Benefits and Directs Payment of Arrears Under SIDBI Act and Pension Regulations

The High Court allowed a Writ Petition filed by retired SIDBI employees challenging a Circular that denied them pension benefits. The Court examined t...

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Supreme Court Rules on MSME Loan Classification and SARFAESI Proceedings. High Court Order Overturned; Banks Must Follow MSME Revival Framework Before Declaring NPAs, MSMEs Granted Alternative Remedies

The appellants, MSMEs registered under the MSMED Act, 2006, challenged the Bombay High Court's order dismissing their writ petitions. The High Court h...

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Bombay High Court Dismisses Revenue's Appeal in Notional Loss Claim on Securities Reclassification. Tribunal's order allowing deduction of notional loss on transfer of securities from 'Available for Sale' to 'Held to Maturity' based on RBI guidelines upheld.

The case involves an appeal by the Commissioner of Income Tax-2 against an order of the Income Tax Appellate Tribunal (ITAT) dated 15 July 2011. The I...