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Bombay High Court Allows Appeal by Depository Against Arbitral Award for Lost Shares Due to Third-Party Fraud. Court Holds That Depository Not Liable Absent Negligence or Breach of Contract Under Section 12(1-A) of SEBI Act, 1992.

The case involves an appeal by Central Depository Services (India) Ltd. (CDSL) against a judgment of a learned Single Judge dated 01/12/2025, which up...

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Bombay High Court Dismisses Management's Petition Challenging Reinstatement of Probationer Teacher. Rule 16(2) of MEPS Rules Mandates Notice Before Concluding Voluntary Abandonment of Employment.

The petitioner, Magasvargiya Shikshan Sanstha, a school management, challenged the judgment and order dated 24.9.2015 of the School Tribunal, Aurangab...

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Bombay High Court Hears Employer's Challenge to Reinstatement of Terminated Probationer. Appellate Authority Had Set Aside Termination on Grounds of Deemed Confirmation and Stigma Without Enquiry under Service Rules.

The case concerns a challenge by the Agricultural Produce Market Committee, Nagpur, to an appellate order of the Divisional Joint Registrar, Co-operat...

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Bombay High Court Quashes Reassessment Notice and Order in Income Tax Case Due to Lack of Full and True Disclosure Finding and Non-Disposal of Objections. Reopening Beyond Four Years Invalid as No Failure to Disclose Material Facts Alleged Under Section 147 First Proviso of Income Tax Act, 1961.

The petitioner, Crystal Pride Developers, a partnership firm engaged in real estate development, filed its original return of income for Assessment Ye...

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High Court Allows Bank Appeal, Holds Guarantors Liable for Loan Recovery; Trial Court's Dismissal Against Guarantors Reversed. Equitable Mortgage by Deposit of Title Deeds Valid and Suit Within Limitation as Guarantors Agreed to be Bound by Principal Borrower's Acknowledgment.

The dispute arose from a loan recovery suit filed by Allahabad Bank against the principal borrower and six guarantors. The bank had sanctioned a loan ...

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Bombay High Court Upholds Labour Court Award of Reinstatement with Back Wages for Termination of Probationer Without Inquiry. Automatic Termination Clause in Appointment Letter Held Invalid as Termination Was Stigmatic and Required Domestic Inquiry Under Industrial Disputes Act, 1947.

The petitioner, WIKA Instruments India Pvt. Ltd., challenged the judgment and award of the Labour Court dated 14 November 2011, which held that the te...

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High Court of Bombay examines Official Liquidator’s report for declaration of sub-lease executed by lessee as void. The matter involves sub-lease of company property during pendency of winding up, with allegations of fabricated documents.

The matter concerns an Official Liquidator’s report filed in the winding up of Modi Stone Limited, seeking a declaration that a sub-lease dated 20 M...

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Supreme Court Upholds Inclusion of Gifted Fixed Deposit Receipts in Estate of Deceased Under Section 10 of Estate Duty Act, 1953. Donor Retained Control by Renewing Receipts in Joint Names, Thus Not Excluding Herself from Benefit, Rendering Amount Liable to Estate Duty.

Purnabai, the deceased, held three fixed deposit receipts with the State Bank of Bikaner on April 1, 1953. She intended to gift the amounts to her gra...