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Supreme Court Allows Appeal in Commodity Exchange Dispute — Violation of Natural Justice Not Established. FMC's Show Cause Notice and Inquiry Upheld as Procedurally Valid Under Forward Contracts (Regulation) Act, 1952.

The case involves a dispute arising from a complaint of trading irregularities against Neptune Overseas Limited (NOL) and its Managing Director, Kaila...

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Supreme Court Upholds 2020 Tribunal Rules with Modifications to Ensure Judicial Independence. Court directs changes to Search-cum-Selection Committee composition and member qualifications to align with constitutional principles.

The Supreme Court of India was called upon to decide the constitutional validity of the Tribunal, Appellate Tribunal and other Authorities (Qualificat...

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Supreme Court Dismisses Petition to Quash FIR in Volkswagen Cheat Device Case — Investigation Not Impeded by Pending Civil Appeals Before NGT. Delay and Disputed Facts Cannot Be Grounds for Quashing FIR Under Section 482 CrPC.

The petitioner, Skoda Auto Volkswagen India Private Limited, a company engaged in the manufacture and sale of passenger vehicles, was aggrieved by the...

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Supreme Court Allows Appeal and Remands Case to High Court for Deciding Vires of Section 40(a)(iib) of Income Tax Act. High Court Must Decide Constitutional Challenge on Merits Despite Pending Assessment Proceedings.

The appellant, M/s Tamil Nadu State Marketing Corporation Ltd., filed a writ petition before the Madras High Court challenging the constitutional vali...

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Supreme Court Allows Appeal in Contract Refund Dispute — Interest on Principal Not Payable from Date of Deposit When Contract Not Void or Breached. Gujarat Maritime Board Not Liable to Pay Interest for Period Before Abandonment of Contract Under Indian Contract Act, 1872.

The Supreme Court allowed the appeal filed by the Chief Executive Officer and Vice Chairman, Gujarat Maritime Board, against the judgment of the Gujar...

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Supreme Court Directs Universal CCTV Installation in Police Stations and Constitution of Oversight Committees to Prevent Custodial Violence. Failure of States to Comply with Earlier Directions Leads to Comprehensive Monitoring Mechanism.

The Supreme Court, in a special leave petition concerning the implementation of its earlier directions in Shafhi Mohammad v. State of Himachal Pradesh...

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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...