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Bombay High Court Dismisses Petition Challenging Tender Condition Requiring Minimum Net Worth of Rs. 100 Crore for RTA Empanelment. Condition Held Not Arbitrary or Discriminatory as It Serves Legitimate Purpose of Ensuring Financial Stability and Capacity to Handle Large Volume of Shareholder Data.

The petitioner, Alankit Assignments Limited, a company providing Registrar and Share Transfer Agent (RTA) services, challenged a tender condition issu...

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High Court Sanctions Scheme of Amalgamation Between Transferor and Transferee Companies Despite Intervenor Objection. Non-Disclosure of Pre and Post Capital Structure in Explanatory Statement Did Not Invalidate Scheme When Shareholders Had Sufficient Information Under Section 393 of Companies Act, 1956.

The transferor company, Chemidye Manufacturing Company Pvt. Ltd., and the transferee company, Thirumalai Chemicals Ltd., both engaged in similar chemi...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Stock Trading Dispute — No Grounds Under Section 34 of Arbitration Act Established. Court upholds award holding petitioner liable for unauthorized trades and failure to prove respondent's instructions.

The petitioner, Sytematix Shares & Stocks (India) Ltd., a stockbroker, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996...

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Bombay High Court Allows Appeal by Depository Against Arbitral Award for Lost Shares Due to Third-Party Fraud. Court Holds That Depository Not Liable Absent Negligence or Breach of Contract Under Section 12(1-A) of SEBI Act, 1992.

The case involves an appeal by Central Depository Services (India) Ltd. (CDSL) against a judgment of a learned Single Judge dated 01/12/2025, which up...

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Bombay High Court Dismisses NSE's Defamation Suit Against Journalists, Upholds Freedom of Speech in Public Interest Reporting. Court holds that a public body like NSE must establish 'special damage' for defamation injunction and that fair comment on matters of public interest is protected.

The National Stock Exchange (NSE) filed a defamation suit against Moneylife Media Private Limited, Sucheta Dalal, and Debashish Basu, seeking an injun...

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Bombay High Court Quashes Penalty for Non-Certification of Annexures to Return of Allotment Under Section 39(5) of Companies Act, 2013 — Default Under Section 39(4) Relates Only to Filing of Return, Not Certification of Annexures.

The petitioners, N.S.J.L Nidhi Ltd and its officers, challenged an order dated October 11, 2023, by which a Learned Adjudicating Officer imposed a pen...

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Bombay High Court Dismisses Revenue's Appeal in Asset Management Company Tax Case — Notional Addition Based on SEBI Ceiling Not Permissible. Investment advisory fees actually charged, not the maximum permissible under SEBI regulations, constitute taxable income.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which upheld the CIT (A)'s...