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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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High Court of Karnataka Considers Petition to Quash FIR Against Bookies for Offences Under Karnataka Police Act and IPC. Allegations Pertain to Unauthorized Collection of Betting Amounts and Tax Evasion Within Bangalore Turf Club Premises.

The High Court of Karnataka heard a petition under Section 482 of the Code of Criminal Procedure, 1973 filed by twenty-six individuals or entities (th...

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Bombay High Court Quashes Contribution Order for Non-Application of Mind in Maharashtra Public Trust Act Case — State Failed to Consider Mandatory Factors Under Section 58(4) While Fixing 2% Rate.

The petitioner, Dadimay Medical Memorial Research Trust, a public trust registered under the Maharashtra Public Trust Act, 1950, challenged an order d...

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High Court Allows Revision in Luxury Tax Case: Society Running Marriage Hall Not Liable for Luxury Tax on Rent Received. Karnataka Tax on Luxuries Act, 1979 does not apply to letting out of marriage hall for functions as it is not a 'luxury' provided to customers.

The petitioner, Sri Veerashaiva Sangha (R), is a society registered under the Karnataka Societies Registration Act, 1961. Its only asset is a Kalyana ...

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High Court of Karnataka Dismisses Appeal Challenging Withdrawal of Labour Welfare Cess Exemption for SEZ Developers. The court held that the exemption was a concession and could be withdrawn by the government, and the appellant had no vested right to its continuation.

The appellant, M/s. Primal Projects Limited, a company engaged in constructing and developing IT parks in Special Economic Zones (SEZ), challenged the...