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Supreme Court Clarifies SEBI's Jurisdiction in Investor Compensation Claims Under Securities Law. SEBI Lacks Power to Award Direct Compensation but Can Order Disgorgement of Ill-Gotten Gains for Restitution Under Sections 11 and 11B of the Securities and Exchange Board of India Act, 1992.

The dispute originated in 2005 when the Securities and Exchange Board of India (SEBI) issued a show-cause notice to M/s. Vital Communications Limited ...

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Bombay High Court Allows Appeal by Decree-Holder in Execution Proceedings, Setting Aside Dismissal as Time-Barred. The court held that filing chamber summons and other applications constituted steps in aid of execution, extending limitation under Article 136 of the Limitation Act, 1963.

The case involves an appeal by Pratap G. Somaiya (the appellant/decree-holder) against an order dismissing his execution application as time-barred. T...

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Bombay High Court Dismisses Petition Challenging Allotment of Surplus Land Under Urban Land Ceiling Act. Petitioners' claim for housing scheme under Section 20 rejected as they failed to comply with statutory requirements and the land was already allotted to a trust.

The petitioners, legal representatives of original landowners, filed a writ petition under Article 226 of the Constitution of India challenging an ord...

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Bombay High Court Dismisses Petition Challenging EPF Attachment Over SFC Sale Property. Section 11(2) of EPF Act, 1952 creates overriding first charge on assets, enforceable against purchaser in SFC sale, not limited to insolvency or winding up.

The petitioner, M/s. Indus Agro Products, was a purchaser in a sale conducted by the State Financial Corporation under the State Financial Corporation...

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Bombay High Court Dismisses Appellant's Appeal Against Arbitration Award as Time-Barred Under Article 119 of Limitation Act. Limitation period for setting aside award runs from date of notice of filing of award, not from date of receipt of award.

The appeal arises from a judgment of a Single Judge of the Bombay High Court dismissing an arbitration petition filed by Oil and Natural Gas Corporati...