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Bombay High Court Dismisses Appeal Seeking Enforcement of Consent Terms Against Non-Signatory Defendant in Debenture Dispute. Interpretation of Consent Decree Held That Clause 11(a) Obligation to Pay Was Only on Defendant No.5, Not Defendant No.6, Who Was Not a Party to the Consent Terms.

The case involves two appeals filed by the original Defendant No.5 (Dewanchand Ramsaran Trading Pvt. Ltd. and others) against a common order of the le...

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Bombay High Court Dismisses Bank's Writ Petitions Against Labour Court Orders in Recovery Proceedings Under Section 33C(2) of Industrial Disputes Act, 1947 — Held That Assignee Bank Steps Into Shoes of Transferor and Is Liable for Pre-Transfer Claims of Workmen.

The petitioners, the Authorized Officer and Chairman & Managing Director of IDBI Bank (Stressed Assets Stabilization Fund), filed four writ petitions ...

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NCLAT Chennai Allows Appeal of Financial Creditor in Insolvency Case, Directs Reconsideration of Resolution Plan. The Tribunal held that the Resolution Professional's failure to include the appellant in the Committee of Creditors and incorrect determination of voting shares violated the IBC, 2016.

The appeal was filed by RBL Bank Limited against the order of the National Company Law Tribunal (NCLT), Chennai, which had approved the resolution pla...

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Supreme Court Dismisses Appeal in Bank Account Suit — Plaint Rejected as Barred by Limitation Under Article 113 of Limitation Act, 1963. Exchange of Correspondence Cannot Extend Limitation Once Right to Sue Accrues.

The appellant, Shakti Bhog Food Industries Ltd., filed a civil suit in 2005 against the Central Bank of India and another respondent seeking a decree ...

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High Court of Bombay at Goa Dismisses Petition Challenging Labour Commissioner's Order Under Section 33C(1) of Industrial Disputes Act, 1947 — Recovery Certificate for Backwages Upheld Despite Bank's Claim of Limitation and Set-Off

The petitioner, The Goa Urban Co-operative Bank Ltd., challenged an order dated 24/03/2017 passed by the Labour Commissioner under Section 33C(1) of t...

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Karnataka High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act Due to Lack of Tangible Material and Mere Change of Opinion. Reopening of Assessment After Full Disclosure and Acceptance of Logo Fee as Revenue Expenditure in Previous Years Held Impermissible.

The writ petition was filed by the assessee, a limited company manufacturing kitchen appliances, challenging a notice dated 11.02.2014 issued under Se...

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Bombay High Court Dismisses Revenue's Appeal in Slump Sale Case. Transfer of IMFL Business as Going Concern Not Subject to Capital Gains Tax Under Income Tax Act, 1961.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961 against an order of the Income Tax Appellate Tribunal (ITAT)...