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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 Madras Disposes of Batch of Writ Petitions Challenging Income Tax and GST Assessment Orders, Suo Motu Impleads State Bank of India. No specific legal finding or ratio is discernible from the available text.

The High Court of Madras heard a batch of writ petitions filed by multiple corporate entities, including Aqua Terra Coke and Energy Limited (formerly ...

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Bombay High Court Dismisses Petition Challenging Promotion Policy Based on Merit in SPMCIL. Court upholds promotion criteria of merit over seniority for E-2 level posts, finding no arbitrariness in the selection process.

The petitioners, employees of Security Printing and Minting Corporation of India Limited (SPMCIL), challenged a promotion order dated 20th January 201...

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Presidential Reference Made to Supreme Court Seeks Advisory Opinion on Telecom Licences and Spectrum Allocation Policies. Reference Under Article 143(1) Recites Historical Grant of Licences from 1994 to 2008 Including First-Come-First-Served and Revenue Share Regimes.

Background: The President of India made a reference under Article 143(1) of the Constitution on 12.04.2012, seeking the advisory opinion of the Suprem...

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Supreme Court Allows Appeal by Bank Management in Dispute Over Supervisory Allowance Claim by Head Cashiers Under Sastry and Desai Awards. Labour Court's Order Granting Special Allowance Set Aside as Head Cashiers' Duties Were Primarily Clerical and Any Supervisory Work Was Incidental.

The dispute arose between the Management of State Bank of Hyderabad and its head cashiers, who were respondents, regarding their claim to a special al...