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Bombay High Court Dismisses Challenge by SEBI Employees Association to Direct Recruitment and Deputation of Executive Directors; Holds that Section 9 of SEBI Act, 1992 Confers Unrestricted Power on Board to Appoint Officers of Its Choice, and Regulations Cannot Fetter This Power.

The dispute arose from a writ petition filed by the SEBI Employees Association along with individual Chief General Managers challenging the Securities...

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Bombay High Court Dismisses Shareholder Suit Challenging Director Appointments for Lack of Jurisdiction. Dispute Over Rights Under Articles of Association Falls Within Exclusive Jurisdiction of Company Law Board Under Companies Act, 1956.

The suit was filed by shareholders of a banking company, Yes Bank, challenging resolutions relating to the appointment of directors and seeking declar...

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Bombay High Court Addresses Conflicting Precedents on Procedural Mandates for No Confidence Motions Under Bombay Village Panchayats Act, 1958. Reference to Larger Bench Examines Whether Formal Motion and Seconding Requirement Under Rule 17 of Meeting Rules is Mandatory or Directory.

The appeal before the Bombay High Court arose from a no confidence motion passed against the Sarpanch of Gram Panchayat Theur, Pune. The appellant, wh...

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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Bombay High Court Allows Petition Challenging Commissioner's Order in Gram Sabha Resolution Dispute — Procedural Irregularities in Gram Sabha Proceedings Render Resolution Invalid.

The Petitioner, Gajanan Baburao Sankpal, was the Chairman of the Pani Purvatha Ani Swachhata Samiti (Water Supply and Sanitation Committee) constitute...