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Special Court at Bombay Delivers Judgment in Securities Fraud Case — Accused Face Charges Under IPC and Prevention of Corruption Act for Cheating, Forgery, and Criminal Conspiracy

This criminal case arises from the 1992 securities scam, which severely impacted India's economy. The prosecution alleged that multiple accused person...

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Supreme Court Allows Assessees' Appeals in Interest Tax Dispute on Hire-Purchase Transactions. The interest component in hire-purchase instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974 as hire-purchase transactions are not loans or advances.

The Supreme Court allowed the appeals filed by M/s Muthoot Leasing and Finance Limited and other assessees, setting aside the judgment of the Kerala H...

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Bombay High Court Dismisses Second Appeals in Property Dispute, Upholds Concurrent Findings of Courts Below. Suit for Declaration of Ownership and Injunction Dismissed as Plaintiffs Failed to Prove Title and Possession Over Suit Property.

The case involves two second appeals arising from a property dispute between family members. The appellants in SA-284-2019 were the original defendant...

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Bombay High Court Dismisses Petitions Challenging Revenue Tribunal Order in Land Tenancy Dispute. Concurrent findings of fact that petitioners failed to prove tenancy rights under Maharashtra Tenancy and Agricultural Lands Act, 1948 upheld.

The petitioners, Pradip Vasudeo Ekbote and others, filed four writ petitions under Article 227 of the Constitution of India challenging a common order...

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Bombay High Court Quashes FIR Against Directors in Dishonour of Cheque Case Due to Lack of Specific Allegations and Non-Impleadment of Company. Vicarious liability under Section 141 of Negotiable Instruments Act, 1881 requires specific averments and company must be made accused.

The petitioners, Harry Inder Dhaul, Narayan Singh Pathania, and Mikhail s/o Harry Dhaul, were directors of Siddhayu Ayurvedic Research Foundation Priv...

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Bombay High Court Dismisses Petition Challenging Rejection of Discharge in Bank Fraud Case — Petitioner, a General Manager of a Cooperative Bank, Allegedly Violated RBI Guidelines by Investing in Non-SLR Securities Through a Broker, Causing Loss to the Bank.

The petitioner, Kishore Deshpande, was the General Manager of CKP Co-operative Bank Ltd. and was arraigned as accused No.5 in FIR No. RC 8/E/2010 regi...