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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 Appeals Against Admission of Winding-Up Petitions Under Companies Act, 1956 — Held That Company Court Has Discretion to Appoint Provisional Liquidator and That Appeal Against Admission Order Is Not Maintainable Under Section 483 of the Companies Act, 1956.

The judgment concerns a batch of appeals filed by Vision Millennium Exports Pvt. Ltd. against orders of the Company Court admitting winding-up petitio...

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Bombay High Court Allows Petition in Excise License Renewal Case — State Cannot Deny Renewal Without Proper Notice and Hearing. Renewal of FL-3 license under Maharashtra Foreign Liquor Rules cannot be refused on grounds of pending criminal proceedings without affording opportunity of hearing.

The petitioner, John Distilleries Private Limited (formerly John Distilleries Ltd.), a company incorporated under the Companies Act, 1956, with its ma...

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High Court of Karnataka at Bengaluru considers batch of income tax appeals under Section 260-A of the Income Tax Act, 1961 challenging ITAT orders for assessment years 2001-02 to 2004-05. Assessee and Revenue both seek to set aside the ITAT decisions and frame substantial questions of law.

The High Court of Karnataka at Bengaluru dealt with a batch of income tax appeals filed under Section 260-A of the Income Tax Act, 1961. The appeals a...