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Bombay High Court Quashes Provisional Attachment Order in PMLA Case for Lack of Scheduled Offence. Attachment of properties under Section 5(1) of Prevention of Money Laundering Act, 2002 set aside as predicate offence was not a scheduled offence under PMLA.

The petitioners, Sunlight Housing Development Pvt. Ltd., Mukesh Doshi, Kaushal Doshi, and Mack Star Marketing Pvt. Ltd., filed writ petitions challeng...

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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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Supreme Court Allows MTNL's Appeal Against Arbitration Order in Bond Dispute with Canara Bank. The Court held that arbitration proceedings cannot continue without a written arbitration agreement and without the consent of all necessary parties, specifically CANFINA.

The case involves a dispute between Mahanagar Telephone Nigam Ltd. (MTNL) and Canara Bank regarding bonds issued by MTNL. In 1992, MTNL floated bonds ...

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Supreme Court Dismisses Appeal by Power Generator Against Termination of PPA — Holds That Failure to Secure Fuel Supply Agreement Does Not Justify Termination Where PPA Does Not Condition Power Supply on Specific Coal Source

The case involves a dispute between M/s Adani Power (Mundra) Ltd. (appellant) and Gujarat Electricity Regulatory Commission and others (respondents), ...

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Bombay High Court Quashes Summoning of Insurance Company Employees for Election Duties. Government Company Not a Local Authority Under Section 29 of Representation of the People Act, 1950.

The petitioner, The Oriental Insurance Company Limited, a Government company registered under the Indian Companies Act, 1913, filed a writ petition ch...

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Bombay High Court Reduces Customs Penalty for Signing Documents in Good Faith — Section 112(a) Customs Act, 1962. Petitioner's limited role and lack of knowledge of illegal importation warranted reduction of penalty from Rs.7.5 lakhs to Rs.1 lakh.

The petitioner, Ashok Chhabildas, a sole proprietor of M/s A.V. Impex, challenged the order of CEGAT dated 19/1/2001 which confirmed the order-in-orig...

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NCLAT Larger Bench Holds Shareholder/Promoter is an 'Aggrieved Person' Under Section 61 IBC and Has Locus to Challenge Section 7 Admission Order. The reference resolves conflicting views on maintainability of appeal by shareholder against admission of insolvency petition.

The National Company Law Appellate Tribunal (NCLAT) Chennai Bench, in a larger bench of three members, addressed a reference question: whether a share...