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Bombay High Court Hears Admiralty Suit for Recovery of Value of Goods Lost Due to Non-Issuance of Bill of Lading. Claim Against Vessel Owner and Agent for Breach of Duty Under Carriage of Goods by Sea Act is Examined.

This admiralty suit was filed by the plaintiff, Geetanjali Woollen Pvt. Ltd., seeking recovery of US$ 57,860 with interest for the loss of export good...

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Bombay High Court Dismisses Criminal Application for Quashing Summons in Security Guards Act Violation. Allegations Against Officers as Principal Employers Prima Facie Disclose Offence Under Clause 42 of Maharashtra Private Security Guards Scheme, 2002.

The matter arose from a criminal complaint filed by Inspector R.D. Khanorkar under the Maharashtra Private Security Guards (Regulation of Employment a...

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Bombay High Court Dismisses Revenue's Appeal in Transfer Pricing Case — Advertisement Expenses Not Subject to Disallowance. Assessee's expenditure on promoting foreign channels held to be for its own business benefit, not requiring compensation from foreign principals.

The appeal was filed by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) dated 29th July 2011, which confi...

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Bombay High Court Quashes Reopening of Assessment in Income Tax Case — No Failure to Disclose Material Facts. Reopening under Section 147 of Income Tax Act, 1961 Held Invalid as Assessee Had Made Full Disclosure in Return and Notes.

The petitioner, NYK Line (India) Ltd., a wholly owned subsidiary of a non-resident shipping line, filed its return of income for Assessment Year 2006-...

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Bombay High Court Dismisses Section 37 Appeal Against Partial Setting Aside of Arbitral Award in Construction Contract Dispute — Non-Signatory Principal Held Liable Based on Agency Relationship and Implied Consent.

The appeals arose from three arbitral awards passed in disputes relating to the construction of mustard seed processing and storage silos in Rajasthan...

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Supreme Court Upholds SEBI Order Against Corporate Giant in Futures Manipulation Case. The Court held that cornering 93.63% open interest through agents and dumping shares to depress settlement price constituted fraud under PFUTP Regulations.

The case involves appeals by Reliance Industries Limited (RIL) against orders of the Securities Appellate Tribunal (SAT) which upheld SEBI's findings ...

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High Court of Karnataka Delivers Judgment in Appeal Against Dismissal of Suit for Recovery of Money Alleging Bank's Unauthorized Issuance of Demand Drafts from Cheque Mandate. The Appeal Involves Issues of Bank's Liability for Acting Contrary to Instructions Under Sections of Customs Act, 1962 and CPC.

The plaintiff, a registered company engaged in manufacturing television and monitor components, imported goods and stored them in a bonded warehouse. ...