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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Bombay High Court Quashes Process Against Directors in Cheque Dishonour Case — Lack of Specific Allegations of Role in Day-to-Day Affairs. Directors Cannot Be Vicariously Liable Under Section 141 of Negotiable Instruments Act, 1881 Without Averments of Their Involvement in Company's Business.

The petitioners, including a company and its directors, challenged the order issuing process under Section 138 read with Section 141 of the Negotiable...

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Bombay High Court Quashes Cancellation of Shikshan Sevak Appointment Approval Due to Violation of Natural Justice. Petitioner's appointment as Shikshan Sevak was approved by Education Officer but later cancelled by Deputy Director without hearing the petitioner, violating principles of natural justice.

The petitioner, Pandurang Narayan Kanekar, was appointed as a 'Shikshan Sevak' on 21st August 2012 by respondent No.6 (Talere Panchkroshi Shikshan Pra...

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Karnataka High Court Examines Interpretation of Provisos to Section 10A(2)(b) of MMDR Act in Writ Petitions. Prospecting Licence Holders Seek Mandamus for Execution of Mining Leases Pending Environmental Clearance.

The High Court of Karnataka heard a group of four writ petitions filed under Article 226 of the Constitution by companies engaged in mining, seeking v...

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Karnataka High Court Dismisses Writ Petition Filed by Company Against Government Order Fixing Market Value of Encroached Land and Demanding Payment of Rs. 982 Crores for 77 Acres 19 Guntas; Upholds Government's Valuation Determined Pursuant to Supreme Court Directions in Civil Appeal No. 5181/2003

M/S Chamundeswari Build Tech Private Limited (petitioner), incorporated in 1994, developed a golf resort, Eagleton Golf Resort, in Ramanagara District...

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Supreme Court Upholds State Rules on Motor Vehicle Alteration Over Central Prototype Norms. Kerala Motor Vehicle Rules permit structural alterations with registering authority's approval, overriding Central Motor Vehicle Rules' restriction on deviation from prototype test.

The case involved a conflict of judicial opinion in the Kerala High Court regarding the permissibility of structural alterations to motor vehicles tha...

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Supreme Court Quashes High Court's Retrospective Enhancement of Retirement Age in Service Regulations Case. High Court Exceeded Judicial Review Limits by Ordering Retrospective Effect from 2002 for Age Enhancement Under UP Industrial Area Development Act, 1976 and NOIDA Regulations, 1981.

The dispute arose from the enhancement of the retirement age for employees of the New Okhla Industrial Development Authority (NOIDA) from 58 to 60 yea...

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Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Change of Opinion. Notice under Section 148 of Income Tax Act, 1961 for reassessment of derivative transaction loss set aside as Assessing Officer had already examined the issue during original assessment.

The petitioner, Shrikant Phulchand Bhakkad (HUF), through its Karta, filed a writ petition under Article 226 of the Constitution of India challenging ...