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Bombay High Court Dismisses Petition Challenging Arbitral Award in Share Purchase Agreement Dispute. Court upholds award directing payment of consideration for shares, finding no patent illegality or conflict with public policy under Section 34 of the Arbitration and Conciliation Act, 1996.

The Petitioner, Sonoma Management Partners Pvt. Ltd., filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996 challenging an a...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Share Purchase Agreement Dispute. Court upholds award of damages for breach of contract, finding no patent illegality or conflict with public policy under Section 34 of the Arbitration and Conciliation Act, 1996.

The petitioner, Sonoma Management Partners Pvt. Ltd., filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an ...

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Supreme Court Upholds SEBI Order Against Corporate Giant in Futures Manipulation Case. The Court held that cornering 93.63% open interest through agents and dumping shares to depress settlement price constituted fraud under PFUTP Regulations.

The case involves appeals by Reliance Industries Limited (RIL) against orders of the Securities Appellate Tribunal (SAT) which upheld SEBI's findings ...

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Bombay High Court Dismisses Defamation Suit Against Azim Premji for Lack of Authority to File on Behalf of Company. Managing Director's Authority to Sue Required Board Resolution as per Articles of Association.

The suit was filed by Subhiksha Trading Services Ltd. (Plaintiff No.1) and its Managing Director R. Subramanian (Plaintiff No.2) against Azim Premji a...

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NCLAT Larger Bench Holds Shareholder/Promoter is an 'Aggrieved Person' Under Section 61 IBC and Has Locus to Challenge Section 7 Admission Order. The reference resolves conflicting views on maintainability of appeal by shareholder against admission of insolvency petition.

The National Company Law Appellate Tribunal (NCLAT) Chennai Bench, in a larger bench of three members, addressed a reference question: whether a share...

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Supreme Court Dismisses Consumer Complaint Against Postal Authorities in Kisan Vikas Patra Fraud Case. Postal authorities not vicariously liable for agent's fraud as payment was made to holder under Negotiable Instruments Act, 1881, and appellants' negligence in signing instruments contributed to loss.

The dispute arose from a consumer complaint filed by Pradeep Kumar and Raj Rani against postal authorities, including the Post Master General and othe...

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Bombay High Court Allows Arbitration Petitions in Shareholder Dispute Over Appointment of Arbitrator. Court appoints sole arbitrator to adjudicate disputes arising from Share Subscription Agreement and Shareholders Agreement.

The judgment concerns four arbitration petitions filed under Section 11 of the Arbitration and Conciliation Act, 1996, arising out of disputes between...