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Supreme Court Dismisses Petition for Appointment of Arbitrator in International Commercial Arbitration Dispute — Seat of Arbitration Determined as Hong Kong Based on Clause 17.2 of MoU.

The petitioner, Mankastu Impex Private Limited, an Indian company, and the respondent, Airvisual Limited, a Hong Kong company, entered into a Memorand...

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Supreme Court Upholds Penalty on Managing Director in FEMA Violation Case — Failure to Complete Import Formalities Constitutes Continuing Offence. Liability under Section 10(6) of FEMA, 1999 attaches to person responsible for conduct of business regardless of change in management.

The appeal arose from complaint proceedings initiated by the Enforcement Directorate under Section 16(3) of the Foreign Exchange Management Act, 1999 ...

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Supreme Court Dismisses Appeal by Steamer Agent Challenging Port Trust Circular Limiting Storage Duration. Circular Held Valid as Administrative Measure to Decongest Port, Not a Tariff Fixation.

The appellant, Maheshwary Handling Agency Private Limited, a steamer agent, challenged a circular dated 31st August 1998 issued by the Traffic Manager...

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Supreme Court Examines Regularisation of Temporary Workmen in ONGC Based on Certified Standing Orders and Unfair Labour Practice Provisions. The court considers whether clause 2(ii) of ONGC's Certified Standing Orders confers a right to regularisation and whether the decision in PCLU is per incuriam.

This batch of appeals arises from judgments of various High Courts directing regularisation of workmen employed by Oil and Natural Gas Corporation (ON...

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Supreme Court Allows Appeal of Former PNB MD & CEO Against Asset Freeze Orders in Gitanjali Gems Mismanagement Case. Section 241 Companies Act Powers Cannot Be Used to Attach Assets of Persons Unconnected with the Mismanaged Company.

The appeal was filed by Usha Ananthasubramanian, former Managing Director and CEO of Punjab National Bank (PNB), against orders of the NCLT and NCLAT ...

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Bombay High Court Allows Bank of Baroda's Petition to Quash Sales Tax Attachment Over Secured Assets, Holding SARFAESI Act Priority Over State Dues. Secured Creditor's Claim Under Section 26E of SARFAESI Act Overrides Crown Debt Under MVAT Act, Attachment Without Notice Invalid.

The Bank of Baroda, a secured creditor under the SARFAESI Act, had sanctioned credit facilities to M/s. Gajanan India Chemco between September 2009 an...