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Bombay High Court Allows Appeal by Depository Against Arbitral Award for Lost Shares Due to Third-Party Fraud. Court Holds That Depository Not Liable Absent Negligence or Breach of Contract Under Section 12(1-A) of SEBI Act, 1992.

The case involves an appeal by Central Depository Services (India) Ltd. (CDSL) against a judgment of a learned Single Judge dated 01/12/2025, which up...

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Bombay High Court Grants Interim Injunction Under Section 9 of Arbitration Act to Prevent Payment to Contractor Pending Arbitration — Share Subscription Agreement and Concession Agreement Form Composite Transaction

The petitioner, Welspun Enterprises Limited, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking an interim injunc...

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Bombay High Court Holds Respondents in Contempt for Breach of Injunction Order. Resolutions Increasing Authorised Capital and Alloting Shares While Restrained from Exercising Rights on Shares Amount to Wilful Disobedience.

The appeal arose from Suit No.3121 of 2004, where the appellants (original plaintiffs, Gopal L. Raheja & Anr.) claimed that the respondents (original ...

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Bombay High Court Allows Appointment of Arbitrator in Commercial Dispute Over Unpaid Invoices. Arbitration Agreement Found Valid Through Sales Terms and Conditions on Website and Invoices Accepted by Respondent.

The applicant, Ingram Micro India Pvt. Ltd., a distributor of computer products, filed an application under Section 11 of the Arbitration and Concilia...

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Bombay High Court Quashes Penalty for Non-Certification of Annexures to Return of Allotment Under Section 39(5) of Companies Act, 2013 — Default Under Section 39(4) Relates Only to Filing of Return, Not Certification of Annexures.

The petitioners, N.S.J.L Nidhi Ltd and its officers, challenged an order dated October 11, 2023, by which a Learned Adjudicating Officer imposed a pen...

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Bombay High Court Dismisses Petition Seeking Personal Hearing for Exemption Under SEBI Employee Benefits Regulations. SEBI Not Obliged to Grant Oral Hearing When Considering Exemption Application Under Regulation 9 of SEBI (Share Based Employee Benefits) Regulations, 2014.

The petitioner, JK Paper Limited, a public limited company, filed an exemption application under the Securities and Exchange Board of India (Share Bas...

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Bombay High Court Dismisses Testamentary Suit for Letters of Administration; Will Not Validly Executed Due to Suspicious Circumstances and Undue Influence. Holograph Will Dated 20 March 1980 Not Proved Under Section 69 of Indian Evidence Act, 1872; Propounder Failed to Remove Suspicious Circumstances.

The testamentary suit originated from a petition filed by the son of the deceased seeking Letters of Administration with the Will dated 20 March 1980....

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Bombay High Court Allows Writ Petition by Debenture Trustee Seeking Enforcement of Security Interest Against Developer and Its Directors Under SARFAESI Act — Held That Trustee Is a 'Secured Creditor' Entitled to Take Possession of Mortgaged Property Despite Pending RERA Proceedings.

The petitioner, IDBI Trusteeship Services Limited, a debenture trustee, filed a writ petition seeking a direction to the District Collector, Pune, and...

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Bombay High Court Allows Appeal in Income Tax Case: Investment in Shares of Private Company for Acquiring Control Held as Capital Asset, Not Stock-in-Trade. Shares held for 31 months with transfer restrictions cannot be treated as trading asset under Income Tax Act, 1961.

The appellant, Accra Investments Private Ltd., filed an appeal under Section 260A of the Income Tax Act, 1961 against the order dated 25 April 2012 of...