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Madras High Court Allows Appeals of Shareholders in Capital Receipt Case — One Million Euros Received from Vedior NV Held Exempt as Capital Receipt. Compensation for Loss of Right of First Refusal and Non-Compete Agreement Treated as Capital Receipt Not Chargeable to Tax Under Income Tax Act, 1961.

The case involves two appeals by shareholders (K. Pandiarajan and R. Hemalatha) against the order of the Income Tax Appellate Tribunal (ITAT) which up...

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High Court of Karnataka Dismisses Writ Petition Seeking Mandamus for Release of Contractual Payment Due to Disputed Facts. Court holds that disputed questions of fact regarding work completion and measurement cannot be adjudicated in writ jurisdiction under Article 226 of the Constitution of India.

The petitioner, M/s. GVPR Engineers Ltd., filed a writ petition under Articles 226 and 227 of the Constitution of India seeking a direction in the nat...

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Bombay High Court Dismisses Writ Petition Challenging Tender Cancellation in DMICDC Project — Upholds Right of Tenderer to Withdraw Before Acceptance Under Section 5 of Indian Contract Act, 1872.

The Government of India envisaged the development of the Delhi-Mumbai Industrial Corridor (DMICDC), a large infrastructure project covering approximat...

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Bombay High Court Dismisses Appeal Against Refusal to Enforce Foreign Arbitral Award Under Section 50(1)(b) of Arbitration & Conciliation Act, 1996 — Award Not Binding on Non-Signatory Respondents as They Were Not Parties to Arbitration Agreement.

The appellant, Integrated Sales Services Limited (ISSL), a Hong Kong company, entered into a Representation Agreement on 18th September 2000 with DMC ...

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NCLAT Allows Withdrawal of Appeal in Insolvency Matter Due to Settlement Between Parties — No Further Orders Required. Appeal under Section 421 of Companies Act, 2013 disposed as withdrawn after appellant's counsel sought permission to withdraw.

The case involves an appeal filed by State Bank of India under Section 421 of the Companies Act, 2013, challenging an order dated 24.06.2019 passed by...