Search Results for "defaulter company"

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Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Supreme Court Allows Appeal of Claimant in Motor Accident Case — Functional Di...
Supreme Court Modifies Sentence in Forgery Case Due to Long Pendency and No Crim...
Madras High Court Dismisses Second Appeal in Partition Suit — Concurrent Findi...
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Search Results for "defaulter company"

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Supreme Court

Supreme Court Upholds Borrowers' Right to Hearing in RBI Fraud Classification Directions. The Court held that principles of natural justice, specifically audi alteram partem, must be read into the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions 2016 to prevent arbitrariness, as classification entails serious civil consequences under Clauses 8.9.4 and 8.9.5.

27 Mar 2023

The civil appeals arose from challenges to the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directio...

Supreme Court

Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

20 Nov 2020

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

Supreme Court

Supreme Court Allows Banks to Deny Legal Representation in Wilful Defaulter Proceedings. In-House Committees of Banks Are Not Tribunals Under Section 30 of Advocates Act, 1961, and Right to Lawyer Is Not Part of Natural Justice.

8 May 2019

The Supreme Court considered appeals against the Delhi High Court judgment which held that a borrower is entitled to be represented by a lawyer before...

High Court

Bombay High Court Quashes Customs Demand Against Ex-Director for Company Dues — No Personal Liability Without Statutory Provision. Section 142(1)(c)(ii) of Customs Act, 1962 does not authorise recovery from a former director who ceased to be associated with the company before the demand.

15 Feb 2019

The petitioner, Purshottam Das Gupta, an 86-year-old senior citizen, was formerly a director of Sujata Verbatim Limited (later renamed PDG Infotech Li...

High Court

Bombay High Court Allows Winding Up Petition Against Varun Global Limited for Non-Payment of Loan Debt. Life Insurance Corporation of India Succeeds in Proving Company's Inability to Pay Debts Under Sections 433(e) and 434 of the Companies Act, 1956.

23 Dec 2016

The petitioner, Life Insurance Corporation of India (LIC), filed a company petition under Sections 433(e) and 434 of the Companies Act, 1956, seeking ...

High Court

Bombay High Court Dismisses Writ Petition Challenging SARFAESI Act Notice and Receiver Appointment. Court upholds validity of Section 13(2) notice and appointment of receiver, finding no violation of principles of natural justice and dismissing petition due to alternative remedy under Section 17 of SARFAESI Act.

15 Jul 2015

The petitioner, Kingfisher Airlines Limited, challenged the notice issued under Section 13(2) of the Securitisation and Reconstruction of Financial As...

High Court

Bombay High Court Dismisses Petition Challenging SEBI Recovery Proceedings and Civil Imprisonment Order for Non-Payment of Dues. Recovery Officer's Order for Arrest and Detention of Defaulter Under Section 28A of SEBI Act, 1992 Upheld as Valid Exercise of Powers.

10 Mar 2015

The petitioner, Vinod Hinigorani, filed a writ petition under Article 226 of the Constitution of India challenging the validity of orders dated 18.12....

High Court

Bombay High Court Dismisses Petition Challenging Arbitral Award in Share Trading Dispute — Upholds Arbitrators' Findings on Contract Notes and Liability. Court holds that failure to object to contract notes within reasonable time amounts to acceptance under NSE Bye-Laws and that arbitral tribunal's findings on facts and law are not open to challenge under Section 34 of the Arbitration and Conciliation Act, 1996.

18 Jan 2014

The petitioner, Harinarayan Bajaj, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral award date...

High Court

Bombay High Court Quashes Recovery Proceedings Against Legal Heir for Company's Central Excise Dues Without Proper Adjudication. Personal Liability Cannot Be Imposed on Legal Representative Without Determining Liability Under Section 11 of Central Excise Act, 1944.

13 Feb 2012

The petitioner, Vandana Bidyut Chaterjee, filed a writ petition under Article 226 of the Constitution of India challenging various notices and communi...

High Court

Bombay High Court Quashes Recovery Notices Against Directors in Central Excise Case — No Personal Liability Without Specific Statutory Provision. Directors of a company cannot be treated as assessees or deemed to be in default for excise duty demands under the Central Excise Act, 1944, in the absence of a provision akin to Section 179 of the Income Tax Act, 1961.

17 Aug 2005

The petitioners, Sunil Parmeshwar Mittal and Kirti Trambaklal Shah, were directors of a company that was assessed for excise duty. The Deputy Commissi...

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