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Bombay High Court Quashes NSE Stop Transfer Order and Directs Issuance of Duplicate Share Certificates — NSE Cannot Invoke Section 108 of Companies Act, 1956 to Freeze Shares of a Non-Defaulting Shareholder.

The petitioner, Aloysius D'Souza, acquired shares of Dr. Reddy's Laboratories Ltd. between 1986 and 1997. In 2007, he applied for duplicate share cert...

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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Bombay High Court Allows Section 11 Petition and Appoints Arbitrator Despite Stamp Duty Objection. Court holds that existence of arbitration agreement is a prima facie matter at Section 11 stage, and stamp duty is for arbitrator to decide.

The Petitioner, Coastal Marine Construction and Engineering Limited, filed a petition under Section 11 of the Arbitration and Conciliation Act, 1996 s...

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High Court of Karnataka Adjudicates TDS Obligations of Turf Clubs on Stake Money Payments to Horse Owners under Income Tax Act. Interpretation of Section 194B and CBDT Circulars Central to Dispute over Characterization of Stake Money as Winnings.

The case involved writ petitions filed by Bangalore Turf Club Limited, Mysore Race Club Limited, Karnataka Race Horse Owners Association, and an indiv...

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KAHC010028192013_1

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Bombay High Court Allows Revenue's Appeal in Customs Duty Exemption Case — Job Work Definition and Value Addition Clause Interpreted. Tribunal's finding that activity amounted to job work and value addition clause does not exclude indigenous material value set aside.

The Commissioner of Customs (Imports), Mumbai filed an appeal under Section 130A of the Customs Act, 1962 against the order dated 6th June, 2006 of th...