Search Results for "Finance Act 1979"

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Supreme Court Allows Appeal in IBC Section 7 Application — Cumulative Redeemable Preference Shares Held as Debt, Not Investment. The Court held that CRPS constitute a debt under Section 3(11) of IBC, 2016, and the appellant is a financial creditor entitled to file an application under Section 7.

The appeal arises from the dismissal of the appellant's application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the NCLT and ...

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Supreme Court Allows State Appeals in Land Acquisition Case — Doctrine of Legitimate Expectation Cannot Override Statutory Acquisition Process. Industrial Development Constitutes Valid Public Purpose Under Land Acquisition Act, 1894.

The appeals arise from a common judgment of the Uttarakhand High Court dated 02.11.2018, which dismissed the appeals filed by the appellants (the Stat...

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High Court of Madras Considers Interplay of Section 40A(7) and Section 43B for Deduction of Gratuity Provision. The Court Examined Whether Specific Provision Overrides Requirement of Actual Payment, but Final Verdict Not Available in Provided Excerpt.

The case concerned an appeal by the assessee, a manufacturer of specialty chemicals, against the disallowance of a provision for gratuity of Rs.31,24,...

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Bombay High Court Dismisses Petitioner's Claim for Retrospective Salary Revision Under Government Resolution. Government Resolution dated 15.05.2000 held prospective, not retrospective, and claim barred by delay and laches.

The petitioner, Mrs. Vinaya L. Pai, filed a writ petition in October 1991 before the Bombay High Court. She was initially appointed as a part-time dem...

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High Court of Judicature at Bombay Dismisses/Quashes? Not known. Petitions by Agricultural University challenging trade union complaints on behalf of retired employees regarding pension dues allegedly beyond limitation.

The matter comprises a batch of writ petitions filed by Mahatma Phule Krishi Vidyapeeth Rahuri against Ahmednagar Zilla Shet Mazoor Union, various ret...

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Supreme Court Dismisses Appeals in National Green Tribunal Act Case Upholding Illegal Storage Facility Removal. Ex Post Facto Clearance Under 2011 Notification Invalid as Storage Terminal Not Located 'In' Notified Port Under Paragraph 8 of Environment Protection Act, 1986.

The appeals were lodged under Section 22 of the National Green Tribunal Act, 2010, challenging the National Green Tribunal's order that set aside an e...

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High Court of Judicature at Bombay Adjudicates Company Petition for Winding Up Over Unpaid Derivative Transaction Debts. The Petitioner Bank Claimed Rs.8.74 Crores from the Respondent Company Following Defaults on Forex Options Margin Calls Under ISDA Master Agreement.

The litigation stems from a company petition filed by HDFC Bank Ltd. under the provisions of the Companies Act, 1956 seeking winding up of Rohan Dyes ...

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High Court of Judicature at Bombay Dismisses Challenge to Issuance of Process Under Section 138 of Negotiable Instruments Act. Court Holds That Once Plea is Recorded and Evidence Commences, High Court Should Not Ordinarily Interfere Under Inherent Jurisdiction Under Section 482 CrPC.

The present criminal writ petition was filed under Article 227 of the Constitution of India and Section 482 of the Code of Criminal Procedure, 1973, b...

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Bombay High Court Allows Interest on Delayed Gratuity from Date of Retirement in Corruption Case Acquittal. Interest under Section 7(3A) of Payment of Gratuity Act, 1972 is payable from retirement date, not acquittal date, as gratuity becomes due on retirement regardless of pending criminal prosecution.

The petitioner, Vinodkumar Narayan Dixit, a former Deputy Collector, retired on 1st April 1997 while a criminal prosecution under the Prevention of Co...