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Supreme Court

Supreme Court Remands Oppression Petition in Share Allotment Dispute Under Sections 397/398 of Companies Act, 1956 — Preference Shareholder's Voting Rights and Validity of Allotments Require Reconsideration. The Court held that the allotments were made in compliance with Section 81(1A) but the High Court failed to properly assess the allegations of oppression, necessitating a fresh hearing by the Company Law Board.

10 May 2019

The appeal arose from a judgment of the Delhi High Court which set aside an order of the Company Law Board (CLB) in a petition under Sections 397 and ...

Supreme Court

Supreme Court Allows U.P.S.R.T.C. Appeal in Driver Superannuation Age Dispute — Age of Retirement Held as 58 Years for Drivers Placed in Group C After Pay Revision. The Court held that once the pay scale of drivers was revised to Rs.335 and above, they fell under Group C and their retirement age was 58 years under Regulation 37 of the U.P. State Road Transport Corporation Employees (Other than Officers) Service Regulations, 1981.

16 Apr 2019

The case involves appeals by the U.P. State Road Transport Corporation against a common judgment of the Allahabad High Court which confirmed Labour Co...

Supreme Court

Supreme Court Upholds Constitutional Validity of Sections 35AA and 35AB of Banking Regulation Act, 1949 and RBI Circular on Stressed Assets Resolution. The Court held that the RBI circular dated 12.02.2018 is valid and not arbitrary, and that the requirement of 100% lender consent for restructuring and mandatory IBC reference for large accounts is within RBI's powers.

2 Apr 2019

The present batch of petitions and transferred cases challenged the constitutional validity of Sections 35AA and 35AB of the Banking Regulation Act, 1...

Supreme Court

Supreme Court Dismisses Contempt Petitions Against Government Officials for Alleged Violation of Judgment on Age of Superannuation. Court Holds That No Willful Disobedience Was Established as the Government Had Issued Clarifications and Was in the Process of Finalizing Allotment of Employees Between States.

7 Mar 2019

The Supreme Court dismissed a batch of contempt petitions filed by employees of the Andhra Pradesh Tribal Welfare Residential Educational Institution ...

Supreme Court

Supreme Court Dismisses Challenge to Disqualification Clause for Workman Director in Nationalised Banks — Clause 3(2)(iii)(b) of the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970 Held Valid Under Article 14. The Court upheld the requirement that a workman must have at least three years of residual service to be nominated as a director, finding it a reasonable classification.

1 Mar 2019

The appeal arose from a writ petition filed by the Federation of Bank of India Staff Unions and another against the Union of India and the Bank of Ind...

Supreme Court

Supreme Court Holds Section 15J Factors Illustrative in SEBI Penalty Adjudication. Adjudicating Officer Retains Discretion to Consider Mitigating Circumstances Beyond Stipulated Factors Under SEBI Act.

28 Feb 2019

The Supreme Court of India adjudicated a reference arising from multiple civil appeals concerning the interpretation of Section 15J of the Securities ...

Supreme Court

Supreme Court Allows ESI Corporation's Appeal in Directors' Remuneration Case — Directors Receiving Remuneration Held to Be 'Employees' Under ESI Act. The Court ruled that Directors of a company who receive remuneration for services rendered fall within the definition of 'employee' under Section 2(9) of the Employees' State Insurance Act, 1948, and contributions are payable on such remuneration.

5 Feb 2019

The case involves an appeal by the Employees' State Insurance Corporation (ESIC) against a judgment of the Madhya Pradesh High Court, which had upheld...

Supreme Court

Supreme Court Allows Appeals of Corporation Against Grant of 6th Pay Revision to Deputation Employees. Division Bench's Application of 'Equal Pay for Equal Work' Set Aside as Deputation Employees Not Comparable to Regular Employees.

5 Feb 2019

The case involves appeals by Bihar State Beverages Corporation Ltd. against a Division Bench judgment of the Patna High Court that allowed writ petiti...

Supreme Court

Supreme Court Allows Suspended Director Access to Resolution Plans in Insolvency Case — Right to Effective Participation Under IBC. Suspended Board Members Entitled to Receive Resolution Plans and Relevant Documents for Effective Participation in CoC Meetings Under Section 24(3) of IBC and Regulation 21 of CIRP Regulations.

31 Jan 2019

The appeal arose from an Appellate Tribunal's order denying the appellant, a suspended director of Ruchi Soya Industries Ltd. (corporate debtor), acce...

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