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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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High Court of Bombay at Goa Dismisses Appeal Against Refusal to Initiate Criminal Complaint for Alleged Offences Under IPC. Court holds that mere filing of civil suit and criminal complaint does not warrant initiation of proceedings under Section 340 CrPC without prima facie satisfaction of offence.

The appellant, Arun Kumar Sharma, filed a criminal appeal under Section 341 of the Code of Criminal Procedure, 1973, challenging the judgment and orde...

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Supreme Court Allows Appeal, Upholds Arbitral Award Holding Husband Jointly and Severally Liable for Wife's Debit Balance in Stock Trading Account — Oral Contract for Joint Liability Falls Within Scope of BSE Bye-law 248(a) Arbitration Clause.

The Supreme Court allowed the appeal filed by AC Chokshi Share Broker Private Limited against the order of the Bombay High Court's division bench, whi...

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Supreme Court Dismisses Appeal of Manufacturer in Central Excise Duty Dispute on Captive Consumption of Yarn. Court Holds That Bank Guarantees Furnished Under Interim Order Can Be Enforced Without Section 11A Notice.

The appellant, M/s. The Bombay Dyeing & Mfg. Co. Ltd., was engaged in the manufacture of cotton and manmade fabrics. It claimed that the fabric manufa...

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Bombay High Court Allows Writ Petition for Lapsing of Land Reservation Under Section 127 of MRTP Act - Reservation for Garden Purposes Deemed Lapsed Due to Non-Acquisition Within Statutory Period

The petitioners, owners of final plot No.481 in Town Planning Scheme No.1 at Karad, filed a writ petition under Article 226 of the Constitution of Ind...

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Bombay High Court Allows Tenant's Petition in Eviction Suit — Landlord Failed to Prove Bona Fide Need for Residential Premises Under Section 16 of Maharashtra Rent Control Act, 1999. Tenant's Use of Rear Rooms for Storage and Occasional Stay Did Not Constitute Subletting or Change of User.

The petitioner, a tenant, challenged the judgment and order dated 11th August 1999 passed by the Additional District Judge, Thane, which partly decree...

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Bombay High Court Dismisses Writ Petition Challenging Sales Tax Assessment Orders Due to Availability of Alternative Remedy. Petitioners Failed to Show Exceptional Circumstances to Bypass Statutory Remedy of Reference Under Section 61(1) of Bombay Sales Tax Act, 1959.

The petitioners, Tata Sons Limited and another, filed a writ petition under Article 226 of the Constitution of India before the Bombay High Court chal...

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Bombay High Court Dismisses Petition Challenging IRDA's Rejection of Insurance Broker License Transfer. Transfer of Corporate Agency License Requires Prior Approval Under Insurance Act, 1938 and IRDA Regulations.

The petitioners, including Wills India Insurance Brokers Pvt. Ltd. and others, filed a writ petition under Article 226 of the Constitution of India ch...