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High Court Sanctions Composite Scheme of Arrangement and Amalgamation Involving Transfer of Business and Reduction of Capital — No Objection from Regional Director or Income Tax Department.

The High Court of Bombay considered two company scheme petitions seeking sanction of a composite scheme of arrangement and amalgamation. The transfero...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Television Production Dispute — Rejects Claim for Loss of Reputation. Court upholds arbitral tribunal's finding that claimant failed to prove loss of reputation due to alleged breach of contract.

The petitioners, Star India Private Limited, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral ...

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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-...