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Supreme Court Dismisses Assessee in Income Tax Matter as Loss from Share Sale Not Arising in Ordinary Course of Business. Assessee Purchased Shares at Above Market Price as Part of Scheme for Acquisition of Managing Agency, Making Transaction Extraordinary.

The assessee, Star Company Limited, was a public limited company engaged in the business of dealing in shares and securities. During the assessment ye...

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NCLAT Larger Bench Holds Shareholder/Promoter is an 'Aggrieved Person' Under Section 61 IBC and Has Locus to Challenge Section 7 Admission Order. The reference resolves conflicting views on maintainability of appeal by shareholder against admission of insolvency petition.

The National Company Law Appellate Tribunal (NCLAT) Chennai Bench, in a larger bench of three members, addressed a reference question: whether a share...

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High Court of Karnataka Dismisses Insurance Company's Appeal in Motor Accident Claim — Upholds Compensation for Injured Claimant. Negligence of Auto Rickshaw Driver Established, No Contributory Negligence by Motorcyclist Found.

The appeal was filed by the National Insurance Co. Ltd. challenging the judgment and award dated 20.06.2015 passed by the Senior Civil Judge and Addit...

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High Court of Gujarat Enhances Compensation for Injured Doctor in Motorcycle Accident Due to Negligent Driving of Chhakda Rickshaw. Claimant's Income Assessed at Rs.2,25,000 per annum with 40% Future Prospects and Multiplier of 16 Applied for Loss of Earning Capacity.

The appellant, Tejasbhai Champaklal Shah, a 32-year-old doctor, filed a claim petition under the Motor Vehicles Act, 1988, seeking compensation for in...

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Bombay High Court Allows Petition Under Section 14(2) of Arbitration Act, Setting Aside Arbitrator's Termination of Proceedings for Delay in Filing Statement of Claim. Arbitrator's Refusal to Condoned Minimal Delay and Termination Held Arbitrary and Amounting to De Jure Inability to Act.

The petitioners, original claimants in arbitral proceedings, filed a petition under Section 14(2) and Section 32(2) of the Arbitration and Conciliatio...

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Bombay High Court Hears Writ Petition Against Order of Debt Recovery Appellate Tribunal in Recovery Proceedings. The Case Involves Settlement and Auction of Property of Bradbury Mills Ltd., a Company in Liquidation, with Multiple Creditors and Guarantors.

The writ petition was filed by Everest Fincap Pvt. Ltd. challenging an order of the Debt Recovery Appellate Tribunal (DRAT) dated 22 August 2008, whic...

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High Court of Bombay at Goa Exercises Suo Motu Jurisdiction and Hears Public Interest Litigation Challenging Alienation of Communidade Land to Builders. Alleged Fraud and Violation of Goa Agricultural Tenancy Act, 1964 and Goa Land Use (Regulation) Act, 1991 in Consent Decree and Sale Deeds.

The High Court of Bombay at Goa heard two connected writ petitions – a public interest petition (WP 294/2008) by Pilerne Citizens Forum and a suo mo...