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Bombay High Court Passes Judgment on Enforcement of Foreign Arbitral Award under Sections 47-49 of the Arbitration and Conciliation Act, 1996. Dispute arose from Share Subscription Agreement and Put Option Deed involving investment exit rights.

The petitioner, Banyan Tree Growth Capital L.L.C., a Mauritian investment fund, had invested approximately USD 7.5 million in Axiom Cordages Limited, ...

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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...

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Bombay High Court Quashes Defamation Complaint Against Company Officials for Termination Letter Sent to Prospective Employer. Communication of termination to a prospective employer does not amount to publication to a third party under Section 500 IPC.

The applicants, who were employees of Future Generali India Life Insurance Company Limited, challenged an order dated 30/11/2017 passed by the Judicia...

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Gujarat High Court Allows Discharge of Accused in CBI Disproportionate Assets Case for Lack of Prima Facie Evidence of Abetment. Cousin of Main Accused Cannot Be Charged Under Section 109 IPC Without Specific Allegations of Instigation or Conspiracy.

The High Court of Gujarat at Ahmedabad, presided over by Justice Hasmukh D. Suthar, allowed a criminal revision application filed by Ajeetkumar S/o Ra...