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High Court

Bombay High Court Grants Stay on Tax Recovery in Gift of Shares Case Under Section 56(1) of Income Tax Act, 1961. Court allows stay of recovery pending appeal, subject to conditions protecting revenue, without deciding merits of taxability of gift of shares.

25 Mar 2014

The petitioner, M/s. Nerka Chemicals Private Limited, a wholly owned subsidiary of Demuric Holdings Private Limited (DHPL), challenged an order dated ...

Supreme Court

Supreme Court Allows Appeals by State Bank of India in Jet Airways Insolvency Case — Holds Performance Bank Guarantee Cannot Be Adjusted Against Resolution Plan Payment and Non-Implementation Leads to Liquidation. The Court ruled that the SRA's failure to pay airport dues and employee dues constituted non-implementation of the Resolution Plan under Section 33(3) IBC, 2016, and the PBG cannot be set off against the first tranche payment.

13 Nov 2024

The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Jet Airways (India) Limited, initiated by State Bank of India (SBI) under S...

Supreme Court

Supreme Court Hears Appeal on Taxability of Capital Gains from Transfer of Shares of a Cayman Islands Company Holding Indian Telecom Assets. The core issue involves whether the offshore transaction is liable to capital gains tax in India under the Income Tax Act, 1961, given that the company's value is derived from Indian telecom assets.

1 Aug 2026

The matter concerned a tax dispute between Vodafone International Holdings BV (VIH), a Netherlands resident company, and the Indian Revenue authoritie...

High Court

Bombay High Court Dismisses Section 37 Appeal Against Arbitral Award in Stock Transaction Dispute — No Perversity or Wednesbury Unreasonableness Found. The Court held that a new argument not raised before the arbitrator or in Section 34 proceedings cannot be raised for the first time in a Section 37 appeal.

15 Apr 2024

The case involves an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, filed by SATCO Capital Markets Ltd. against Rahul H Bajaj....

High Court

Bombay High Court Dismisses Challenge to Arbitral Award in Stock Broker Dispute — No Patent Illegality Found. Claimant's claim for refund of margin money and compensation for unauthorized trades upheld as arbitrator's findings of fact are final under Section 34 of Arbitration and Conciliation Act, 1996.

17 Dec 2014

The judgment concerns two arbitration petitions under Section 34 of the Arbitration and Conciliation Act, 1996, challenging a common arbitral award da...

High Court

Bombay High Court Dismisses Petition Challenging Arbitral Award in Stock Broker Dispute — No Interference Under Section 34 of Arbitration Act as Award Not Found to be Patently Illegal or Contrary to Public Policy. The court upheld the arbitrator's findings of fact and declined to re-appreciate evidence, reaffirming the limited scope of judicial review under Section 34 of the Arbitration and Conciliation Act, 1996.

9 Dec 2025

The petitioner, Sharekhan Limited, a stock broker, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996 challenging an arbi...

High Court

Bombay High Court Allows Appeal Against Rejection of Interim Injunction in Commercial Suit for Specific Performance of Share Pledge Agreement. Court holds that a prima facie case for specific performance of a contract to create a pledge is made out when the contract is clear and the plaintiff has performed its obligations.

23 Jun 2022

The appellant, World Crest Advisors LLP, filed a Commercial Suit against Catalyst Trusteeship Ltd and others seeking specific performance of a share p...

High Court

Bombay High Court Sanctions Scheme of Arrangement in Company Petition for Revival of Sick Pharmaceutical Company. Scheme under Section 391 of Companies Act, 1956, Approved Involving Settlement of Secured Creditors' Dues through Cash and Securities.

13 Feb 2006

The Pharmaceutical Products of India Limited (PPIL), a company incorporated under the Companies Act, 1956, filed two company petitions under Section 3...

High Court

Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Fresh Material. Notice Issued Beyond Four Years Based on Same Material as Original Assessment Held Invalid.

23 Feb 2023

The petitioner, Vibrant Securities Private Limited, a company engaged in stock broking and proprietary trading, challenged a notice under section 148 ...

High Court

Bombay High Court Dismisses Petition Challenging Arbitral Award on Limitation Grounds — Section 34 Application Filed Beyond Limitation Period. Court holds that period of limitation for challenging an arbitral award under Section 34 of the Arbitration and Conciliation Act, 1996 runs from the date of receipt of the original award and is not extended by a subsequent correction application under Section 33.

7 Jan 2014

The petitioner, Marwadi Shares & Finance Ltd, a member of the National Stock Exchange and Bombay Stock Exchange, had disputes with its constituent, re...

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