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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 Dismisses Second Appeal in Property Suit, Upholds Concurrent Findings of Possession and Title. Court holds that findings of fact based on evidence cannot be interfered with in second appeal under Section 100 CPC unless perverse or based on no evidence.

The case involves a property dispute between the appellants (original defendants) and respondents (original plaintiffs) over agricultural land. The pl...

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Supreme Court Dismisses Assessee's Appeal in Income Tax Deduction Case Under Section 43B Explanation 3C. Interest Converted into Debentures Not Deemed Actually Paid as Per Retrospective Amendment, Disallowing Deduction Under Income Tax Act, 1961.

The dispute arose from an appeal by M.M. Aqua Technologies Ltd. against the Commissioner of Income Tax, Delhi-III, concerning the interpretation of Se...

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Bombay High Court Dismisses PIL Challenging Definition of Loan Under Maharashtra Money-Lending Act. Classification Between Interest-Free Advances and Loans at Interest Held Not Arbitrary Under Article 14.

The petitioner, Fauzan Shaikh, filed a Public Interest Litigation before the Bombay High Court challenging the constitutional validity of clauses (j) ...

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Bombay High Court Dismisses Appeal for Specific Performance of Share Sale Agreement — Plaintiff Failed to Prove Readiness and Willingness to Perform Contract. MOU for Sale of Shares Held Not Enforceable as Plaintiff Did Not Show Financial Capacity to Pay Balance Consideration Within Stipulated Time.

The appellants, plaintiffs in the suit, filed an appeal under Section 96 of the Code of Civil Procedure, 1908, against the judgment of the trial Court...

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Bombay High Court Dismisses Petition Challenging Interim Arbitral Award in Loan Dispute. Court upholds arbitrator's power to pass interim award under Section 31(6) of Arbitration and Conciliation Act, 1996 for admitted liability of Rs.100 crores.

The petitioners, Deccan Chronicle Holdings Limited and Mr. T. Venkatram Reddy, filed a petition under Section 34 of the Arbitration and Conciliation A...