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Bombay High Court Hears SEBI's Application to Recall Sanction of Composite Scheme in Fertilizers Merger Case. Securities Regulator Alleges Material Non-Disclosure and Accounting Violations in Scheme Involving Listed and Unlisted Companies Under Companies Act, 1956.

The Securities and Exchange Board of India (SEBI) filed applications on 21.02.2013 seeking recall of orders of the Bombay High Court dated 17.06.2011 ...

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Karnataka High Court Hears Regular First Appeal Against Partition Decree. Trial Court Decreed Suit for Partition and Separate Possession, Determining Shares Among Legal Heirs of Gregory and Alphonsus Coelho.

The appeal arose from a suit for partition and separate possession filed by Ruth Lobo (plaintiff/first respondent) against the legal heirs of Gregory ...

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Bombay High Court Hears Second Appeal Against Partition Decree; Challenge to Lower Appellate Court's Grant of 1/4th Share in Joint Family Properties. Plaintiff Claimed Share via Will but Court Rejected Will Yet Allowed Partition, Now Appellants Contend Family Settlement Extinguished All Shares.

The second appeal before the Bombay High Court arises out of a partition suit. The plaintiff, Smt. Sushila, filed a suit for declaration, partition, a...

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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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High Court of Karnataka Dismisses Appeals in Partition Suit — Confirms Trial Court's Decree for Partition and Separate Possession. Daughters Granted Equal Share in Joint Family Property Under Hindu Succession Act, 1956.

The case involves a partition suit filed by the plaintiffs, who are the sons and daughters of Mahalingappa Wali, seeking a share in the joint family p...

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Bombay High Court Dismisses Second Appeal by Widow and Children, Upholding Mother's Share in Son's Provident Fund and Insurance Amounts. Mother of deceased employee held entitled to share as Class I heir under Section 8 of Hindu Succession Act, 1956, in provident fund, gratuity, and insurance proceeds.

The case involves a dispute over the distribution of provident fund, gratuity, and insurance amounts payable upon the death of Ramesh, who died on 09/...

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Bombay High Court Allows Appeal in Income Tax Case: Investment in Shares of Private Company for Acquiring Control Held as Capital Asset, Not Stock-in-Trade. Shares held for 31 months with transfer restrictions cannot be treated as trading asset under Income Tax Act, 1961.

The appellant, Accra Investments Private Ltd., filed an appeal under Section 260A of the Income Tax Act, 1961 against the order dated 25 April 2012 of...

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Karnataka High Court Allows Partition Appeal by Divided Son in Hindu Joint Family Property Dispute. Son who separated from father prior to 1956 is entitled to share in ancestral property as per Mitakshara law and Hindu Succession Act, 1956.

The case involves two regular first appeals (RFA No.100007/2014 and RFA No.100028/2014) arising from a common judgment and decree dated 25.10.2013 pas...