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Supreme Court

Supreme Court Dismisses Contempt Petitions for Alleged Wilful Disobedience of Earlier Judgment in SARFAESI Auction Dispute — No Contempt Made Out as Subsequent Transfers Were Not in Breach of Court Orders. The Court held that the earlier judgment did not contain any specific direction restraining transfers, and the respondents had acted under colour of subsequent orders from the DRT and High Court.

13 Dec 2024

The Supreme Court dismissed contempt petitions filed by Celir LLP, the successful auction purchaser, alleging wilful disobedience of its earlier judgm...

Supreme Court

Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

16 Oct 2024

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

Supreme Court

Supreme Court Upholds Retired Employees in Cooperative Bank Pension Dispute - Pension Scheme Cannot Be Unilaterally Discontinued After Employees Have Opted and Availed Benefits Under Punjab State Cooperative Agricultural Development Banks Employees Pension, Family Pension and General Provident Fund Rules, 1989. The Court held that pension is a deferred wage and accrued right, and amendments to service rules under Section 84A(2) of Punjab Cooperative Societies Act, 1961 must be prospective, protecting employees' legitimate expectations.

11 Jan 2022

The dispute arose from the Punjab State Cooperative Agricultural Development Bank Ltd.'s decision to discontinue a pension scheme introduced in 1989 f...

High Court

High Court of Bombay at Goa Dismisses Revenue's Appeal in Cooperative Credit Society Tax Deduction Case — Society Not a Cooperative Bank Despite Non-Member Transactions. Primary Cooperative Credit Society remains eligible for deduction under Section 80P(2)(a)(i) of Income Tax Act, 1961 even if it accepts deposits from and lends to non-members, as it is not a cooperative bank under Section 5(ccv) of Banking Regulation Act, 1949.

7 May 2021

The case involves four tax appeals filed by the Revenue (Pr. Commissioner of Income Tax, Goa) against the common order of the Income Tax Appellate Tri...

Supreme Court

Supreme Court Dismisses Cooperative Society's Appeals Challenging Sale Deeds Executed in Favor of Members. Arbitrator under Delhi Cooperative Societies Act lacks jurisdiction to adjudicate validity of registered sale deeds, which can only be challenged before civil court.

30 Jan 2019

The Supreme Court dismissed the appeals filed by Delhi Dayalbagh Cooperative House Building Society Ltd. against the orders of the Delhi High Court, w...

High Court

Bombay High Court Dismisses Writ Petition Challenging RBI's Directions to Cooperative Bank — RBI's Directions Under Section 35A of Banking Regulation Act, 1949 Upheld as Valid and Not Violative of Natural Justice. The Court Held That Section 35A Does Not Require a Prior Hearing and the Directions Were Issued in Public Interest to Protect Depositors.

6 Oct 2018

The petitioners, The Veershaiva Cooperative Bank Ltd. and its employees' union, filed a writ petition challenging the directions issued by the Reserve...

High Court

Bombay High Court Dismisses Appeal for Leave to File Appeal Against Judgment in Commercial Suit Due to Lack of Locus Standi and Unexplained Delay. The court held that the appellant, not being a party to the suit, had no right to challenge the judgment and that the delay of 120 days was not satisfactorily explained.

6 Sep 2018

The judgment concerns an application for leave to appeal and condonation of delay filed by Ahluwalia Contracts (India) Ltd. (ACIL) against a judgment ...

High Court

Bombay High Court Allows Writ Petition Challenging Removal of Managing Committee Members of Cooperative Society Without Show Cause Notice. The Court held that the power under Section 77(1) of the Maharashtra Cooperative Societies Act, 1960 to remove a committee can be exercised only after giving an opportunity of being heard, and the order of removal passed without such opportunity is illegal and unsustainable.

17 Nov 2014

The petitioners, eight members of the Managing Committee of the Ordnance Factory Bhandara Karmachari Sahakari Pat Sanstha Maryadit (respondent No.4-So...

High Court

Bombay High Court Dismisses Writ Petition Challenging Industrial Court's Order on Maintainability of ULP Complaint Against Cooperative Society. Section 91 of Maharashtra Cooperative Societies Act, 1960 Bars Industrial Court from Entertaining Disputes Relating to Recovery from Salary by Cooperative Society.

19 Sep 2006

The petitioners, employees of respondent No. 1 cooperative society, challenged a resolution passed by the society on 19/1/1993 to recover amounts from...

High Court

Bombay High Court Allows Appeals in Cooperative Bank Election Dispute — Upholds Registrar's Power to Conclude Election Process Despite Pending Disqualification Proceedings. The court held that the High Court should not interfere with the election process after declaration of results, as remedy lies in election petition under Section 144T of Maharashtra Cooperative Societies Act, 1960.

30 Nov -0001

The case involves multiple Letters Patent Appeals and Counter Appeals arising from a dispute concerning the election of directors to the Yavatmal Dist...

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