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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 Appeal in Arbitration Appointment Case — Withdrawal of Section 11 Petition Does Not Bar Fresh Application Under IBC. Order 23 Rule 1 CPC Not Applicable to Arbitration Petitions; Section 9 IBC and Section 11 Arbitration Act Seek Different Reliefs.

The Supreme Court allowed the appeal filed by M/s HPCL Bio-Fuels Ltd. against the judgment of the Bombay High Court which had appointed a sole arbitra...

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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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High Court of Bombay at Goa Exercises Suo Motu Jurisdiction and Hears Public Interest Litigation Challenging Alienation of Communidade Land to Builders. Alleged Fraud and Violation of Goa Agricultural Tenancy Act, 1964 and Goa Land Use (Regulation) Act, 1991 in Consent Decree and Sale Deeds.

The High Court of Bombay at Goa heard two connected writ petitions – a public interest petition (WP 294/2008) by Pilerne Citizens Forum and a suo mo...

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Bombay High Court Quashes FIR in Criminal Breach of Trust Case Due to Civil Nature of Dispute. Agreement cancellation and price revision dispute between contractor and client does not constitute criminal breach of trust under Section 406 IPC.

The applicant, Sumeet Kishor Nandeshwar, a businessman running a partnership firm named M/s. UN Multitech Engineers and Contractors, entered into an a...

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Supreme Court Dismisses Revenue's Appeal in Income Tax Assessment Nullity Case Due to Amalgamation. Assessment in Name of Non-Existent Entity Held Void Despite Participation by Successor Company.

The Supreme Court dismissed the appeal filed by the Revenue against the judgment of the Delhi High Court which had upheld the Income Tax Appellate Tri...

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Bombay High Court Quashes FIR in Franchise Dispute: Breach of Contract Not Cheating Without Fraudulent Intent. Essential Ingredients of Sections 420 and 406 IPC Not Made Out as Dispute is Purely Civil in Nature.

The applicants, directors of AN Retail Ventures Private Limited (ANR), sought quashing of FIR No.134/2021 registered at Osmanpura Police Station, Aura...

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Bombay High Court Allows Writ Petition Challenging Cancellation of Eligibility Certificate Under 1988 Industrial Package Scheme. The Court held that the cancellation was arbitrary and violative of principles of natural justice as no show-cause notice was issued before cancellation.

The petitioner, M/s. Nav Maharashtra Cement Industries, a partnership firm registered under the Indian Partnership Act, 1932, filed a writ petition un...