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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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NCLAT Adjudicates Appeals Against NCLT Orders Directing Replacement of Resolution Professional. Issues Pertain to Applicability of Sections 97 and 98 of IBC to Part II CIRP and Interpretation of IBBI Bye-law 23A.

The appeals arise from insolvency proceedings of Hindusthan National Glass & Industries Limited. The Corporate Insolvency Resolution Process (CIRP) be...

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Bombay High Court Upholds Removal of Developer in Slum Rehabilitation Project Due to Non-Compliance with Scheme Conditions. Order of CEO SRA Upheld as Developer Found to Have Violated Terms of Agreement and Failed to Complete Project.

The petitioner, a company engaged as a developer for a slum rehabilitation project on a property owned by a cooperative housing society, filed a writ ...

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High Court of Karnataka Dismisses Writ Petition Challenging No-Confidence Motion Against Gram Panchayat President and Vice President. Court holds that the motion was validly passed by a majority of members and the petitioners failed to establish any illegality or procedural irregularity.

The petitioners, Smt. Honnamma and Sri Basavaraj Shivanappa Bangari, who were the President and Vice President respectively of Ganadahal Gram Panchaya...

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Bombay High Court Allows Amendment to Plaint in Suit for Compensation and Declaration of Sale Agreement as Void. Amendment Sought to Challenge Agreement for Sale of Property Allegedly Purchased with Siphoned Funds Allowed Under Order VI Rule 17 CPC.

The Plaintiff, Edit II Productions, filed a suit seeking compensation for financial loss caused by the Defendants who allegedly siphoned funds from th...

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High Court of Karnataka Allows Appeal in Ejectment Suit — Tenant's Denial of Landlord's Title Forfeits Protection Under Rent Control Act. The tenant's denial of title and chronic default in rent payment entitles the landlord to decree for ejectment under Section 111(g) of Transfer of Property Act, 1882.

The appellant-plaintiff filed a suit for ejectment against the respondent-defendant, alleging that the defendant was a tenant under one Smt. Chinnamma...

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Bombay High Court Dismisses Petition Challenging IRDA's Rejection of Insurance Broker License Transfer. Transfer of Corporate Agency License Requires Prior Approval Under Insurance Act, 1938 and IRDA Regulations.

The petitioners, including Wills India Insurance Brokers Pvt. Ltd. and others, filed a writ petition under Article 226 of the Constitution of India ch...

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Bombay High Court Admits and Finally Disposes of Writ Petition Challenging RBI Circulars on Gold Import. Court Hears Arguments on Validity of Circulars Issued Under FEMA and Related Trade Policy.

The petitioners, a bullion dealing company and its directors, filed a writ petition under Article 226 of the Constitution seeking to quash RBI Circula...