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National Company Law Appellate Tribunal Considers Appeal Against Admission of Coffee Day Enterprises to CIRP Under Section 7 of Insolvency Code. Appeal Raises Questions on the Validity of Debenture Trustee's Action and Limitation Period Based on Debenture Trust Deed Provisions.

The appeal arose from an order of the NCLT Bengaluru Bench admitting Coffee Day Enterprises Limited (the corporate debtor) into Corporate Insolvency R...

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Bombay High Court Quashes Reopening Notice in HDFC Bank Bad Debts Case — No Failure to Disclose Material Facts. Section 148 notice under Income Tax Act, 1961 set aside as reassessment based on change of opinion and lack of tangible material.

The petitioner, HDFC Bank Ltd., a scheduled bank registered with RBI, filed its return of income for assessment year 2006-07 and claimed deductions un...

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Supreme Court Dismisses Bank's Appeal in Consumer Dispute Over Cheque Clearing Deficiency. Bank held liable for deficiency in service under Consumer Protection Act, 1986 due to negligence in presenting cheques within validity period, with compensation awarded for loss caused by expired cheques.

The Supreme Court of India heard two civil appeals filed by Canara Bank against a judgment of the National Consumer Disputes Redressal Commission. The...

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Supreme Court Allows Appeal in Cooperative Bank CEO Appointment Dispute — Upholds Apex Society's Power to Depute Cadre Officers. Section 54(3) of Chhattisgarh Co-Operative Societies Act, 1960 obligates District Central Cooperative Bank to accept CEO deputed by State Cooperative Bank from its cadre.

The dispute arose from the appointment of the Chief Executive Officer (CEO) of the first respondent, Zila Sahkari Kendriya Bank Maryadit, a District C...

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High Court of Judicature at Bombay Reviews Appeals from Single Judge's Interim Orders in Share Control Dispute. Appeals Concern Enforcement of Arbitral Award, Injunctions, and Corporate Governance Interim Measures.

The High Court of Judicature at Bombay heard four appeals arising from a common order dated 26-03-2003 passed by a Single Judge in two suits concernin...

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Bombay High Court Sets Aside Opinion of Adjudicating Authority Under FEMA for Failure to Supply Documents and Provide Reasons. The Court Directs That All Documents Referred to in the Complaint Must Be Furnished and That the Opinion Under Rule 4 of the Adjudication Rules Must Be a Reasoned Order.

The writ petition was filed by Lalit Kumar Modi, a former Vice President of the Board of Control for Cricket in India (BCCI) and Chairman of the India...

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Bombay High Court Allows Section 14 Petitions to Terminate Arbitrator Mandate Due to Deemed Waiver of Right to Object. Arbitrator appointed by Co-operative Bank under MSCS Act failed to disclose interest and continued proceedings despite jurisdictional challenge, leading to termination of mandate.

The petitioners, Kalpesh Shantikumar Mehta and others, along with KSM Multitrade LLP and others, filed two petitions under Section 14 of the Arbitrati...

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Bombay High Court Quashes Order of Special CBI Court Refusing Discharge of Corporate Debtor Under Section 32A of IBC. Section 32A(1)(a) of Insolvency and Bankruptcy Code, 2016 Grants Immunity to Corporate Debtor for Pre-CIRP Offences Upon Approval of Resolution Plan, Irrespective of Pending Appeals.

The case arose from two writ petitions filed under Article 227 of the Constitution of India read with Section 482 of the Code of Criminal Procedure, 1...

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High Court of Bombay Hears Section 34 Petition Concerning Forfeiture of Bid Securities in Tender Process. The Petition Questions Whether the Arbitrator Correctly Interpreted Clause 19.6 of the Tender Instructions and the Law on Bank Guarantees.

The dispute arose out of a tender process floated by the Maharashtra State Electricity Distribution Company Limited for supply, construction, and comm...