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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Supreme Court Dismisses Appeal Against Grant of Transmission Licence Without TBCB in HVDC Project. Section 63 of Electricity Act, 2003 is an alternative route; regulatory commission has discretion to adopt regulated tariff mechanism for transmission projects.

The case involves a challenge by Tata Power Company Limited Transmission (TPC-T) against the grant of a transmission licence by the Maharashtra Electr...

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Karnataka High Court Upholds KSTAT Order Setting Aside Stage Carriage Permits in Inter-State Route Dispute Citing Bangalore Scheme and Lack of Counter-Signature. The Court Clarified that a Round Trip is Not an Enclave Route Under Section 88 of Motor Vehicles Act, 1988.

The dispute arose from the grant of stage carriage permits by the Karnataka State Transport Authority (KSTA) on the route Tumkur to I.D. Halli, which ...

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Bombay High Court Hears Writ Petition Challenging Grant of Alewadi Port Project to Third Party Under Maharashtra Maritime Board Policies. Petitioner Alleges Arbitrary Treatment and Non-Consideration of Original Proposal Contrary to Port Policies.

The dispute concerns the development of a multipurpose port at Alewadi in Maharashtra under the state's port policies. Petitioner, a UK-based private ...

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High Court of Karnataka Quashes State Transport Appellate Tribunal Order in Motor Vehicles Act Case — Lack of Jurisdiction to Review Own Orders. The Tribunal cannot review its own orders under the Motor Vehicles Act, 1988, as no power of review is conferred by the Act or Rules.

The petitioners, who are private bus operators, filed writ petitions under Articles 226 and 227 of the Constitution of India challenging the order dat...

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High Court of Karnataka Quashes RTA Order Rejecting Stage Carriage Permit Applications on Notified Routes — Remands for Fresh Consideration. RTA Must Independently Apply Mind and Not Merely Rely on Objections of State Transport Undertakings Under Motor Vehicles Act, 1988.

The petitioner, Sree Gajanana Motor Transport Company Limited, a stage carriage operator, applied for four stage carriage permits on routes including ...

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Supreme Court Disposes of Appeals by Authority for Advance Rulings Against High Court Judgment Quashing AAR's Rejection of Treaty Benefits. Questions Raised on Taxation of Capital Gains Under India-Mauritius DTAA and Scope of Section 245R(2) Proviso (iii) of Income Tax Act, 1961.

The disputes arose from applications for advance ruling filed by three Mauritius-incorporated companies—Tiger Global International II Holdings, Tige...