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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Bombay High Court Dismisses Petition by Domestic Bidder Challenging Contract Award to Foreign Company. Price Preference Claim Rejected for Non-Compliance with Bid Conditions.

The Petitioner, Punj Lloyd Ltd., a domestic company, filed a writ petition under Article 226 of the Constitution challenging the award of a contract b...

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Bombay High Court Dismisses Petition Challenging Government's Direction to Levy Minimum Water Tax. State Government Has Power Under Section 112 of Maharashtra Municipal Councils Act, 1965 to Prescribe Minimum Rate and Take Coercive Measures for Non-Compliance.

The petitioner, a rate payer, challenged a letter dated 14th January 1998 issued by the Urban Development Department of the Government of Maharashtra ...

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Bombay High Court Dismisses Writ Petition Challenging Rejection of Deemed Conveyance Under MOFA Due to Pending Title Dispute. Availability of Alternate Civil Suit Remedy Renders Writ Petition Under Article 227 Not Maintainable.

The petitioner, M/s. Blue Heaven Co-op Housing Society Ltd., filed a writ petition under Article 227 of the Constitution of India challenging the orde...

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Bombay High Court Allows SEBI's Appeal Against Interim Order Restraining Adjudication Proceedings. Civil Suit Against SEBI Held Not Maintainable Due to Alternative Remedy Under SEBI Act, 1992.

The case involves an appeal by the Securities and Exchange Board of India (SEBI) against an interim order passed by a Single Judge of the Bombay High ...

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Bombay High Court Upholds Removal of Junior Clerk for Misconduct and Habitual Absence from Duty. Disciplinary Authority's Order of Dismissal Confirmed as Charges of Negligence and Insubordination Were Proved in Departmental Enquiry.

The petitioner, Shivdas Dodku Borkar, was a Junior Clerk in the District Court, Nagpur, and was posted at Narkhed. He was subjected to disciplinary pr...