Search Results for "Financial Institution Definition"

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Supreme Court Partially Strikes Down FCRA Amendment Act 2020 — Ban on Transfer of Foreign Funds and Mandatory Aadhaar Held Unconstitutional. The court upheld the requirement of a single FCRA account at SBI New Delhi as a reasonable regulatory measure to prevent misuse of foreign funds.

The judgment deals with a batch of writ petitions challenging the constitutional validity of certain amendments made to the Foreign Contribution (Regu...

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Bombay High Court Allows Appeal in Arbitration Act Case — Upholds Appointment of Arbitrator Despite Alleged Non-Compliance with Pre-Arbitration Steps. Section 11(6) of the Arbitration and Conciliation Act, 1996 invoked where respondent failed to appoint arbitrator within 30 days of notice.

The appellant, a company incorporated under the Companies Act, 1956, and the respondent, a multi-state co-operative society constituted under the Mult...

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Karnataka High Court Quashes FIR in Matrimonial Dispute Under Section 498A IPC and Dowry Prohibition Act Due to Vague Allegations. Court Holds that Filing of General and Omnibus Allegations Against Husband and In-Laws Constitutes Abuse of Process of Law Under Section 482 Cr.P.C.

The petitioners, husband and his family members (father, mother, brother), sought quashing of FIR registered at Basavanagudi Women Police Station, Ben...