Search Results for "Bonafide purchaser"

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Madras High Court Allows Assessee's Appeal in Income Tax Penalty Case — Typographical Error in Return Does Not Attract Penalty Under Section 271(1)(c). Bonafide belief and full disclosure of transaction negate mens rea for concealment.

The appellant, Ms. Saritha Jain, an income tax assessee, sold her shares in M/s. Vision Health Services (P) Ltd., an Indian company, to M/s. Perot Sys...

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Bombay High Court Allows Appeal in Specific Performance Suit — Oral Agreement Not Proved. Plaintiff failed to establish oral agreement, payment of consideration, and suit was barred by limitation under Article 54 of the Limitation Act, 1963.

The appellants (original defendant nos. 2 to 4) challenged the judgment and decree dated 18/02/2014 passed by the learned Judge, City Civil Court, Mum...

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High Court of Karnataka Reviews Order Directing Liquidator to Accept Sale Proceeds in Insolvency Case. Insolvency and Bankruptcy Board of India Challenges Writ Order Alleging Irregularities in Auction Process Under IBC.

The review petition was filed by the Insolvency and Bankruptcy Board of India (IBBI) under Section 114 read with Order XLVII Rule 1 of the Code of Civ...

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Bombay High Court Dismisses Suit for Declaration of Trust and Accounts Against Bank in Palm Oil Import Dispute. Consent Decree in Prior Suit Bars Plaintiff from Claiming Sale Proceeds as Trust Property.

The plaintiffs, Bajranglal Anilkumar Jaju and Hitesh Anilkumar Jaju, filed Suit No. 824 of 1980 against The Vyasya Bank Ltd. seeking a declaration tha...

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Madras High Court Hears Appeal Against Specific Performance Decree in Suit Involving Agreement of Sale. Trial Court's Grant of Relief Challenged on Grounds of Unregistered Agreement and Alleged Lack of Possession by Plaintiff.

The appeal arose from a decree for specific performance granted by the trial court in O.S.No.473/2006. The plaintiff, V.Gurusamy, filed the suit claim...

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Supreme Court Allows Appeal in Family Settlement Dispute — Upholds Validity of Pre-Emptive Right Clause. Clause requiring written concurrence of all co-sharers before sale to third party is valid and binding; High Court erred in holding it vague and void.

The dispute arose from a family settlement dated 31.03.1982 among three brothers, including the appellant Tilak Raj Bakshi (plaintiff), the first defe...