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Bombay High Court Allows Appeal by Depository Against Arbitral Award for Lost Shares Due to Third-Party Fraud. Court Holds That Depository Not Liable Absent Negligence or Breach of Contract Under Section 12(1-A) of SEBI Act, 1992.

The case involves an appeal by Central Depository Services (India) Ltd. (CDSL) against a judgment of a learned Single Judge dated 01/12/2025, which up...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Valid Approval Under Section 151. Reassessment Notice Issued Beyond Six Years Without Proper Sanction from Specified Authority Held Invalid.

The petitioner, Vibrant Securities Pvt. Ltd., a member of the Bombay Stock Exchange and National Stock Exchange, challenged a reassessment notice date...

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High Court of Bombay Sets Aside Arbitral Award in Stock Broker Dispute Due to Perverse Findings. Arbitrator's Failure to Consider Admitted Documents and Ledger Accounts Constitutes Patent Illegality Under Section 34 of the Arbitration and Conciliation Act, 1996.

The petitioner, Shilpa Stock Broker Pvt. Ltd., a stock broker and member of the National Stock Exchange of India Ltd. (NSEIL) and Bombay Stock Exchang...