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High Court Quashes FIR Against Bank Officials and BGR Energy Executives in Bank Guarantee Dispute -- No Criminal Intent Found in Commercial Transaction Under IPC Sections 420, 403, 406, 418, 425, 427 read with 34

The High Court quashed an FIR registered against bank officials and company executives alleging criminal offences in connection with bank guarantee tr...

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Supreme Court Dismisses Appeal of Suspended Director Against Admission of Insolvency Petition by Canara Bank Under Section 7 of IBC. Held that a suspended director has no locus standi to challenge the admission of a Section 7 application as the corporate debtor is the proper party.

The case involves an appeal by M. Suresh Kumar Reddy, claiming to be a suspended director of M/s Kranthi Edifice Pvt. Ltd. (corporate debtor), against...

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Supreme Court Allows Appeal in Arbitration Case Over Bank Guarantee Validity - High Court's Direction to Substitute Bank Guarantee Set Aside as Appellant Complied with Original Order for Scheduled Bank Located in India Under Arbitration and Conciliation Act, 1996.

The Supreme Court of India heard civil appeals arising from special leave petitions filed by SEPCO Electric Power Construction Corporation against Pow...

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High Court Dismisses Revenue Appeal in Income Tax Penalty Case — No Substantial Question of Law Arises. Penalty under Section 271(1)(c) of Income Tax Act, 1961 cannot be imposed for mere disallowance of claim without finding of concealment or furnishing inaccurate particulars.

The Revenue filed an appeal under Section 260-A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal dated 29.12.2016, w...

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Bombay High Court Dismisses State's Appeal Against Discharge of Accused in MCOCA Case Due to Invalid Sanction. Sanction Under Section 23(2) MCOCA Found to Be Without Application of Mind, Leading to Discharge of All Accused.

The State of Maharashtra appealed against an order dated 8th August 2014 passed by the Special Judge under the Maharashtra Control of Organised Crime ...