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INCOME TAX APPEAL NO.626 OF 2010

The assessee, Godrej & Boyce Mfg. Co. Ltd., filed its income tax return for Assessment Year 2002-03 declaring a loss of Rs. 45.90 crores and claimed a...

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High Court of Karnataka Allows Winding Up Petition Against Airline Company for Inability to Pay Debts Under Companies Act, 1956. The court held that the company was commercially insolvent and unable to pay its debts, and appointed the Official Liquidator to take charge of its assets.

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a company petition under Sections 433(e) and (f) r...

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High Court of Karnataka Dismisses Winding-Up Petition Against Kingfisher Airlines Ltd. for Lack of Service of Statutory Notice. Petition under Sections 433(e) and (f) of the Companies Act, 1956 fails as petitioner Aerotron Limited did not prove service of demand notice under Section 434.

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a winding-up petition under Sections 433(e) and (f...

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High Court of Karnataka Allows Winding Up Petition Against Airline Company for Inability to Pay Debts. Creditor's Statutory Demand for USD 3 Million Remained Unpaid, Leading to Order for Winding Up Under Sections 433(e) and (f) of the Companies Act, 1956.

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a company petition under Sections 433(e) and (f) r...

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High Court of Karnataka Hears Two Regular Second Appeals Challenging Dismissal of Suits for Specific Performance and Permanent Injunction. Court Delivers Judgment on Substantial Questions of Law Concerning Execution of Agreement of Sale, Possession, and Limitation.

These two regular second appeals arose from cross-suits concerning an agreement of sale dated 22.03.1985 over agricultural land bearing RS No. 17/1 of...

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Supreme Court Allows Insurer's Appeal in Insurance Claim Dispute Over Depreciation Rate for Fire-Damaged Machinery. Court Holds That Insured's Failure to Reinstate Damaged Property Within Extended Time Renders Reinstatement Value Clause Inoperative, Entitling Only Market Value on Depreciation Basis.

The dispute arose from a fire accident on 12.12.1998 that destroyed the '20 Hi Cold Rolling Mill' of the insured, M/s Bhushan Steel and Strips Ltd (la...

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Supreme Court Approves Compensation Scheme for Tribal Landowners in Coal Mining Acquisition - Mahanadi Coalfields Directed to Pay Compensation for Lands Acquired in 1987-1989. Market value determined as of 2010 survey date due to 28-year delay in compensation.

The case concerns the long-pending compensation claims of landowners, predominantly tribal communities, whose lands were acquired for coal mining by M...