Search Results for "Finance Act 1956"

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Supreme Court Allows Appeal in Bond Redemption Dispute, Upholding Defendant's Compliance with RBI Directives. Interest on Delayed Payment Not Payable Due to Regulatory Embargo and Pending Liquidation Proceedings Under Companies Act, 1956.

The dispute arose from a suit filed by M/s. SIBCO Investment Pvt Ltd against Small Industries Development Bank of India seeking interest on alleged be...

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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 Writ Petition Challenging Rejection of Plaint in SARFAESI Act Dispute — Civil Suit Barred Under Section 34 of SARFAESI Act, 2002. Shareholder's Allegations of Fraud Do Not Override Statutory Bar When Secured Assets Are Involved.

The petitioner, Shashikant Gangar, a shareholder and director of Libox Chem (India) Private Limited (respondent no. 2), filed a writ petition challeng...

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Bombay High Court Dismisses Petition by National Institute of Industrial Engineering Challenging Trade Union Registration. State Government Held as Appropriate Government for NITIE Under Section 2(a) of Industrial Disputes Act, 1947, Allowing Union Registration Under MRTU & PULP Act.

The case involves a writ petition filed by the National Institute of Industrial Engineering (NITIE) challenging the order of the Industrial Court, Mum...

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Bombay High Court Allows Appeal in Central Excise Case: Commissioner's Decision on Nil Duty Binding on Assessing Officer. Duty on DTA Clearances of Fresh Mushrooms by 100% EOU Held Nil Following Commissioner's Order Under Section 3(1) of Central Excise Act, 1944.

The appellant, ECO Valley Farms & Foods Limited, a 100% Export Oriented Unit (EOU) engaged in cultivation, manufacture, and export of fresh/processed ...

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High Court Frames Charges Against Accused for Filing Frivolous Litigations; Supreme Court Dispenses with Trial in Contempt Case. Forum Shopping and Abuse of Process Held to Amount to Criminal Contempt Under Section 2(c) of Contempt of Courts Act, 1971.

The criminal contempt petition was filed by Hasham Investment and Trading Company Private Limited, Wipro Limited, and Azim Hasham Premji (complainants...

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High Court of Judicature at Bombay Examines Company Law Board's Power to Direct Issue of Shares Under Section 111 of Companies Act, 1956. The appeal raises the question whether the Board can order issuance of share certificates and rectification of register absent valid transfer documents.

This company appeal arose from an order of the Company Law Board (CLB) dated 14 January 2013 in Company Petition No. 23 of 2012. The CLB had directed ...

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Supreme Court Upholds SEBI Order Against Corporate Giant in Futures Manipulation Case. The Court held that cornering 93.63% open interest through agents and dumping shares to depress settlement price constituted fraud under PFUTP Regulations.

The case involves appeals by Reliance Industries Limited (RIL) against orders of the Securities Appellate Tribunal (SAT) which upheld SEBI's findings ...