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Bombay High Court Upholds High Court Committee Reports in NSEL Defaulters Liability Proceedings. Committee's Ascertainment of LOIL Group Liabilities to National Spot Exchange Ltd. Confirmed by Fact-Finding Authority and Appeals Disposed Without Relief.

The matter before the High Court of Judicature at Bombay arose from Suit No.173 of 2014 filed by Modern India Limited and others against Financial Tec...

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Repealed Penalty Rule Cannot Apply: The Supreme Court Upholds Application of Amended Rule in Excise Penalty Case

The Supreme Court of India ruled in favor of Pernod Ricard India (P) Ltd, holding that penalties for exceeding permissible limits of liquor wastage du...

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Supreme Court Quashes FIR Against Bank Officials in Income Tax Restraint Order Violation Case — Lack of Mens Rea and Criminal Intent Established. Bona fide mistake in interpreting revocation order does not attract criminal liability under IPC Sections 406, 409, 420, 120B.

The Supreme Court allowed the appeal filed by HDFC Bank Ltd. against the judgment of the Patna High Court which had dismissed the bank's petition unde...