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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 Dismisses Petition Challenging Amendment of Complaint in Cheque Dishonour Case Under Section 138 NI Act. Revisional Court's Order Allowing Amendment to Add Partnership Firm as Accused Upheld as No Prejudice Caused.

The case arises from a criminal writ petition filed by the petitioners (original accused and the partnership firm) challenging the judgment and order ...

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Bombay High Court Dismisses Summary Judgment in Commercial Suit for Unpaid Rent, Grants Unconditional Leave to Defend. Triable issues raised regarding termination of lease and liability of partners under the Indian Partnership Act, 1932.

The plaintiff, PVR Ltd., filed a Commercial Summary Suit against the defendants, Proetus Ventures LLP and its partners, Shardul Bayas and Abhinay Rame...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax TDS Case — Wheeling and Transmission Charges Not Rent Under Section 194I. Payments for Use of Transmission Lines Held Not Rent as No Transfer of Possession or Right to Use Occurs.

The case involves an appeal by the Commissioner of Income Tax (TDS) against the order of the Income Tax Appellate Tribunal (ITAT) which held that whee...

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High Court of Bombay Dismisses Revenue's Appeal in Bogus Purchase Case — GP Rate Restricted to 15% on Alleged Bogus Purchases. The court held that when purchases are accepted as genuine but from bogus parties, only the profit element embedded in such purchases can be taxed, not the entire purchase amount.

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

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Bombay High Court Dismisses Writ Petition Against SARFAESI Auction Sale for Lack of Alternative Remedy. Petitioner's challenge to auction sale of secured assets fails as remedy under Section 17 of SARFAESI Act before DRT was not exhausted.

The petitioner, Umang Sugars Private Limited, filed a writ petition before the Bombay High Court challenging the auction sale of movable and immovable...

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CRIMINAL WRIT PETITION NO.1659 OF 2005

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