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Supreme Court Allows Appeals by States of Karnataka and Kerala in Lottery Tax Dispute — State Legislatures Have Competence to Tax Lotteries Under Entry 62 List II. Regulatory Entry 40 List I Does Not Bar State Taxation of Lotteries Organised by Other States.

The Supreme Court considered appeals by the States of Karnataka and Kerala against judgments of their respective High Courts which had struck down sta...

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Bombay High Court Quashes IDBI Bank's Wilful Defaulter Declaration Against Non-Executive Director. The Court Holds that Failure to Provide Copies of Documents and Fair Hearing Violates Principles of Natural Justice and RBI Guidelines.

Background: The writ petition was filed by a non-executive director of Ruchi Soya Industries Limited, a public listed company, challenging his declara...

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Bombay High Court Dismisses Section 9 Petition for Lack of Jurisdiction in Commercial Arbitration Dispute. Exclusive jurisdiction clause in agreement conferred jurisdiction on Hyderabad courts, not Bombay High Court.

The petitioner, Aniket SA Investments LLC, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim measures pe...

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Bombay High Court Considers Maintainability of Section 34 Petition Against Foreign Award; Preliminary Objection Raised Pending Determination. Arbitration Agreement Existence and Enforcement of Foreign Award Under Part II Also Examined.

The dispute arose from a voyage charter party dated 13 September 2008 between Aurelia Reederei Eugen Friederich GmbH Schiffahrtsgesellschaft & Company...

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High Court of Karnataka Dismisses Intra-Court Appeal Against Look-Out Circulars Issued by Banks Due to Default of Rs.2800 Crores. Court Holds that Petitioner’s Concession to Banks’ Power and Pending Suits Justify Travel Restriction Under Office Memoranda.

The intra-court appeal arose from the dismissal of a writ petition that challenged two Look Out Circulars issued by Bank of Baroda and Punjab National...

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Bombay High Court Quashes Reassessment Notices and Orders Under Section 153 of Income Tax Act, 1961 for Lack of Valid Sanction and Non-Application of Mind. Reassessment proceedings initiated without proper approval under Section 151(2) and based on borrowed satisfaction are invalid.

The petitioner, Ashok Commercial Enterprises, filed nine writ petitions challenging reassessment notices dated 19th July 2021 and 14th July 2021 issue...