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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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High Court of Karnataka Dismisses Appeal Challenging DICGC Act Provisions in Cooperative Bank Deposit Insurance Dispute. Sections 18A(5) and 21(3)(4) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, held constitutional and not arbitrary.

The appellant, Sri G.K. Gururaja Rao, Secretary of Sri Guru Raghavendra Sahakara Bank Niyamitha, filed a writ petition under Article 226 of the Consti...

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Supreme Court Allows Banks' Appeals in RBI Fraud Classification Case Regarding Natural Justice Requirements. Court Holds No Absolute Right to Personal Hearing or Full Forensic Audit Report Disclosure Under RBI Master Directions Issued Under Section 35A Banking Regulation Act, 1949.

The dispute arose from the classification of loan accounts as 'fraud' by banks under the Reserve Bank of India's Master Directions. The appellant bank...

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High Court of Karnataka Hears Criminal Appeal Against Conviction Under IPC and Prevention of Corruption Act. Alleged Misappropriation of Seeds and Funds by Public Servants in National Seeds Corporation Leads to Conviction, but Accused Challenges Evidence and Conspiracy Charge.

The appellant, who was accused no. 2, challenged his conviction by the trial court for offences of criminal conspiracy, cheating, criminal breach of t...

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Bombay High Court Quashes Criminal Proceedings Against Partnership Firm in Cheque Dishonour Case Due to Lack of Vicarious Liability. Employee's Misappropriation of Cheque Without Firm's Knowledge Does Not Attract Section 138 of Negotiable Instruments Act, 1881.

The petitioner, Guma Tech Marine Services, a registered partnership firm, filed a criminal writ petition under Article 226 of the Constitution of Indi...

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High Court of Karnataka Delivers Judgment on Batch of Writ Petitions Concerning Input Tax Credit Under KVAT Act. Interpretation of Section 10(3) of the Karnataka Value Added Tax Act, 2003 and Availment of Input Tax Credit Irrespective of Invoice Month Framed the Core Issue.

A batch of writ petitions came before the High Court of Karnataka under Article 226 of the Constitution of India, filed by various companies including...