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Bombay High Court Dismisses Revenue's Appeal in Income Tax Block Assessment Case Due to Consistency Principle. ITAT's order upheld as Revenue failed to challenge similar deletions in related assessees' cases.

The case involves an appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961, challenging an order of the Income Tax Appellate Trib...

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Bombay High Court Adjudicates Enforcement of Foreign Arbitral Award in Joint Venture Dispute. Petition Seeks Enforcement Under Section 48 of Arbitration Act; Allegations Include Breach of JVA and Conflict of Interest.

The petitioner, an Italian company engaged in cable manufacturing, entered into a Joint Venture Agreement dated 19th January 2010 with the respondents...

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Bombay High Court Partially Sets Aside Arbitral Award in Shareholder Dispute Over Hotel Company Exit — Holds That Arbitrator Exceeded Jurisdiction by Granting Relief Beyond Scope of Reference and Without Proper Valuation.

The judgment pertains to two Commercial Arbitration Petitions arising from an arbitral award dated 5th April 2016. The petitioners (Panchamias Group a...

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Special Court Convicts Broker and Beneficiaries in BMC Bank Securities Fraud; Acquits Employees and Other Brokers. Broker Held Liable for Dishonest Receipt of Stolen Property Under Section 411 IPC, While Beneficiaries Convicted of Cheating Under Section 420 IPC.

The case involved a criminal trial before the Special Court under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 19...

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Bombay High Court Adjudicates Section 34 Petition Against Arbitral Award on Termination and Repudiation of Master Asset Purchase Agreement. Arbitrator's Finding of Repudiation by Purchaser and Direction for Refund of Consideration under MAPA Considered.

The dispute arose from a Master Asset Purchase Agreement (MAPA) dated 31st March 2005 between Siddhivinayak Realties Pvt. Ltd. as purchaser and V Hote...

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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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High Court of Bombay Dismisses Appeal Against CLB Order Refusing Transfer of Company Petition. Chairman's Quasi-Judicial Order Held Amenable to Section 10F but Lacks Power to Transfer Part-Heard Matter or Constitute Special Bench.

The appeal arose from an order of the Chairman, Company Law Board (CLB) rejecting an application to transfer a partly-heard company petition from the ...