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Madras High Court Allows Appeals of Shareholders in Capital Receipt Case — One Million Euros Received from Vedior NV Held Exempt as Capital Receipt. Compensation for Loss of Right of First Refusal and Non-Compete Agreement Treated as Capital Receipt Not Chargeable to Tax Under Income Tax Act, 1961.

The case involves two appeals by shareholders (K. Pandiarajan and R. Hemalatha) against the order of the Income Tax Appellate Tribunal (ITAT) which up...

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Supreme Court Allows Appeals by Odisha Forest Development Corporation Ltd. in Tender Dispute — Refund of Deposit Ordered by High Court Set Aside. Forfeiture of Security Deposit Upheld as Per Contract Terms When Writ Petition Withdrawn Without Pressing Challenge.

The Supreme Court of India heard a batch of appeals arising from orders of the High Court of Orissa. The appellant, Odisha Forest Development Corporat...

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Supreme Court Upholds Rejection of Tender for Non-Compliant Bank Guarantee in Public Works Contract. Material Deviation in Performance Security Period Cannot Be Condoned After Bid Submission.

The case arose from a tender called by the Vidarbha Irrigation Development Corporation for balance earthwork in a canal. Three bidders responded: Resp...

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Supreme Court Dismisses Appeals Challenging Cancellation of MSO Permission Due to Denial of Security Clearance. Security Clearance is a Mandatory Precondition Under Rule 11C of Cable Television Network Rules, 2012.

The Supreme Court dismissed two civil appeals arising from the cancellation of permissions granted to the appellants, Digi Cable Network (India) Pvt. ...

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Bombay High Court Dismisses Writ Petition Challenging Reduction of Sick Leave by IDBI Bank. The court held that the reduction of sick leave from 540 to 360 days was a valid policy decision and not arbitrary under Article 14 of the Constitution of India.

The petitioner, All India IDBI SC,ST,Nav Buddhist and OBC Officers' Welfare Association, filed a writ petition under Article 226 of the Constitution o...

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Bombay High Court Allows Winding Up Petition Against Varun Global Limited for Non-Payment of Loan Debt. Life Insurance Corporation of India Succeeds in Proving Company's Inability to Pay Debts Under Sections 433(e) and 434 of the Companies Act, 1956.

The petitioner, Life Insurance Corporation of India (LIC), filed a company petition under Sections 433(e) and 434 of the Companies Act, 1956, seeking ...

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Bombay High Court Dismisses Petition by Krishi Vigyan Kendra Challenging Labour Court Order of Reinstatement with Back Wages. Employee's Resignation Not Voluntarily Made and Not Accepted by Employer, Hence No Cessation of Employment.

The petitioner, Krishi Vigyan Kendra, challenged the judgment of the Labour Court dated 08/12/2009 partly allowing Complaint (ULP) No.41/2005 filed by...

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Bombay High Court Dismisses Petitions Challenging Arbitral Award in Partnership Dispute — Court Upholds Award of Mesne Profits and Rejection of Set-Off Claim Under Specific Relief Act and Partnership Act

The case involves three writ petitions filed by M/s Resources International, Mr. Dipak M. Rajani, Mrs. Meena D. Rajani, and M/s Resourceful Earthmover...

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Bombay High Court Allows Restoration of Criminal Complaint in Cheque Dishonour Case Due to Non-Compliance with Conditional Order. Petitioner's right to prosecute respondent for offence under Section 138 of Negotiable Instruments Act, 1881 revived after respondent failed to deposit amount as directed.

The petitioner, Anil Prabhakar Naik, filed a criminal complaint under Section 138 of the Negotiable Instruments Act, 1881 against the respondents for ...