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Bombay High Court Allows Appeal in Income Tax Case: Investment in Shares of Private Company for Acquiring Control Held as Capital Asset, Not Stock-in-Trade. Shares held for 31 months with transfer restrictions cannot be treated as trading asset under Income Tax Act, 1961.

The appellant, Accra Investments Private Ltd., filed an appeal under Section 260A of the Income Tax Act, 1961 against the order dated 25 April 2012 of...

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High Court of Karnataka Dismisses Challenge to Section 164(2)(a) of Companies Act, 2013 and Press Note Dated 6.9.2017 — Directors of Private Limited Companies Cannot Be Exempted from Disqualification for Non-Filing of Financial Statements.

The petitioners, Mr. Yenugu Krishna Murthy, Mr. Devarunda Manjegowda Purnesh, and Mr. Manjunath Krishnarajanagar Manikyam, filed three writ petitions ...

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High Court of Karnataka Dismisses Challenge to Section 164(2)(a) of Companies Act, 2013 and Press Note Dated 6.9.2017 — Directors of Private Limited Companies Cannot Be Exempted from Disqualification for Non-Filing of Financial Statements.

The petitioners, Mr. Yenugu Krishna Murthy, Mr. Devarunda Manjegowda Purnesh, and Mr. Manjunath Krishnarajanagar Manikyam, filed three writ petitions ...

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Bombay High Court Hears Writ Petition Against Enhanced Privilege Fees for Liquor Licence Transfer — Issues of Delay, Laches, and Alternate Remedy Examined Under Bombay Prohibition Act, 1949

The petitioner, Nagpur Distillers, a partnership firm holding licences for manufacturing country liquor (CL-I) and potable liquor (PLL), decided to co...

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High Court of Judicature at Bombay Listed Interim Application in Commercial Suit Involving Real Estate Companies and Partnership Firm. The Application Sought Interim Relief in Dispute Between Developers and Property Holding Entities.

The extracted material consists solely of the cause title and preliminary details in Interim Application (L) No.5452 of 2025 arising from Commercial S...

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High Court of Judicature at Bombay Examines Company Law Board's Power to Direct Issue of Shares Under Section 111 of Companies Act, 1956. The appeal raises the question whether the Board can order issuance of share certificates and rectification of register absent valid transfer documents.

This company appeal arose from an order of the Company Law Board (CLB) dated 14 January 2013 in Company Petition No. 23 of 2012. The CLB had directed ...

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Bombay High Court Dismisses Appeal Against Company Law Board Order in Share Transfer Dispute. Court upholds CLB's refusal to condone delay in filing application for rectification of register of members under Section 155 of Companies Act, 1956.

The appeal arose from an order of the Company Law Board (CLB) dismissing an application for condonation of delay in filing a petition under Section 15...

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High Court of Karnataka Allows Winding Up Petition Against Airline Company for Inability to Pay Debts Under Companies Act, 1956. The court held that the company was commercially insolvent and unable to pay its debts, and appointed the Official Liquidator to take charge of its assets.

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a company petition under Sections 433(e) and (f) r...

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Bombay High Court Hears Appeal Against Company Law Board Order Dismissing Petition. Court Frames Questions on Applicability of Section 111A and Section 43A of Companies Act, 1956 to Deemed Public Company.

The appeal arose from a company petition filed by the appellants, members of the Kavasmaneck family, before the Company Law Board, Mumbai, alleging op...