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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 Writ Petition Challenging Industrial Tribunal Award in Reference (IT) No. 30 of 2015 — Upholds Reinstatement of Workmen with Continuity of Service and Back Wages for Termination Without Compliance of Section 25-F of Industrial Disputes Act, 1947.

The petitioner, a company incorporated under the Companies Act, 1956, running a factory at Ranjangaon, challenged an Award dated 29 March 2018 passed ...

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Supreme Court Allows Appeal in Part in Foreign Currency Arbitral Award Enforcement Case. Twin Principles Laid Down: Date of Enforceability for General Conversion, Date of Deposit for Amounts Deposited in Court.

The Supreme Court addressed the issue of the correct date for converting a foreign currency arbitral award into Indian rupees for enforcement. The app...

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Bombay High Court Dismisses Winding-Up Petition by Deutsche Bank Against Finolex Industries Under Section 433(e) Companies Act, 1956 — Disputed Derivative Transaction Debt Precludes Summary Winding-Up. Court Holds That Winding-Up Petition Is Not a Debt Recovery Mechanism and Dismisses Petition with Costs.

The judgment arises from a Company Petition filed by Deutsche Bank AG, Mumbai Branch, seeking winding-up of Finolex Industries Limited under Section 4...

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Bombay High Court Allows Petition in Tender Dispute Over Exchange Rate Date — Interpretation of Clause 20(c) of Tender Documents. Court Holds That Date of Opening of Techno-Commercial Bid Is the Relevant Date for Exchange Rate Determination Under Tender Clause.

The petitioners, Knowledge Infrastructure Systems Pvt. Ltd. and its director, filed a writ petition challenging the decision of Respondent No.1, Mahar...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case Regarding Transaction Charges. Transaction charges paid to stock exchanges are not fees for technical services under Section 194J of the Income Tax Act, 1961, as stock exchanges perform regulatory and administrative functions.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) regarding the assessment y...