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Bombay High Court Quashes Recovery Certificate Against Guarantor in Cooperative Bank Loan Fraud Case — Violation of Natural Justice. Failure to Provide Documents and Pass Reasoned Order Renders Recovery Proceedings Invalid Under Maharashtra Cooperative Societies Act, 1960.

The petitioner, Tarulata Amritlal Bava, filed a writ petition under Articles 226 and 227 of the Constitution challenging a Recovery Certificate dated ...

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Bombay High Court Delivers Oral Judgment in Appeal No. 28 of 2002 Arising from Chamber Summons No. 298 of 2001. The Dispute Involves the Validity of Deposit of Decretal Amount and Recording of Satisfaction of Award Following Prothonotary's Refusal.

In 1988, arbitrators passed an award directing Oil & Natural Gas Commission (ONGC) to pay US$1,804.50 and US$59,593 as interest on delayed payments, p...

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Bombay High Court Dismisses Impleadment Application in Property Suit — Plaintiffs Fail to Establish Prima Facie Title or Possession. Order 1 Rule 10 CPC requires direct legal interest; vague claims of possession without documentary evidence insufficient for impleadment.

The judgment pertains to a Notice of Motion filed by the plaintiffs in a suit seeking a declaration of ownership and possession of a property. The pla...

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Bombay High Court Dismisses Application Under Section 24 CPC Seeking Transfer of Appeal as Abuse of Process — Costs Imposed. Transfer Sought on Allegations of Bias to Delay Proceedings in Pending Rent Appeal, Court Holds That Unfounded Allegations Cannot Ground Transfer.

The matter arose from an eviction decree passed on 21.10.2005 in TE & R Suit No.253/274 of 2003 by the Small Causes Court at Bombay. The appellant No....

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Supreme Court Allows Assessees' Appeals in Interest Tax Dispute on Hire-Purchase Transactions. The interest component in hire-purchase instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974 as hire-purchase transactions are not loans or advances.

The Supreme Court allowed the appeals filed by M/s Muthoot Leasing and Finance Limited and other assessees, setting aside the judgment of the Kerala H...

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Supreme Court Allows Assessees in Interest Tax Act Case on Hire-Purchase Instalments. Hire-purchase agreements are distinct from loans, and interest component in instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974, as it does not constitute interest on loans and advances.

The dispute involved a batch of civil appeals concerning the tax liability of non-banking finance and leasing companies under the Interest-Tax Act, 19...