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Supreme Court Allows Appeals in Special Court Act Case — Garnishee Orders Set Aside for Lack of Proof of Liability. Loans taken from benami companies before notification under Special Court Act cannot be recovered from borrowers without evidence of outstanding debt.

The appeals arose from orders of the Special Court, Bombay, under the Special Court (Trial of Offences relating to transactions in Securities) Act, 19...

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Bombay High Court Allows Appeal in Income Tax Derivative Loss Set-off Case. Loss from derivatives trading on recognized stock exchange held not speculative under Section 43(5)(d) of Income Tax Act, 1961, and can be set off against other business income under Section 70.

The appellant, Souvenir Developers (I) Pvt. Ltd., is a domestic company deriving income from toll collection business and also trading in shares and d...

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Supreme Court Dismisses SEBI's Appeal in Securities Market Violation Case Due to Absence of Question of Law. Tribunal's Factual Findings on Advertisements, Manipulation, and Natural Justice Upheld, with Jurisdiction Under Section 15Z of SEBI Act, 1992 Confined to Legal Issues.

The dispute arose from a statutory appeal under Section 15Z of the Securities and Exchange Board of India Act, 1992, filed by SEBI against the Securit...

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Bombay High Court Dismisses Petition to Set Aside Arbitral Award in Specific Performance Dispute. Court upholds award rejecting claim for specific performance of agreement to sell immovable property, finding no grounds under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioner, Rajesh V. Choudhary, filed Arbitration Petition No.734 of 2010 under Section 34 of the Arbitration and Conciliation Act, 1996, seeking...