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702 judgments · newest first · showing 201–400
Virtual Soft Systems Ltd claimed a deduction for lease equalisation charges in its 1999-2000 income tax return. The Assessing Officer disallowed the deduction, but the Income Tax Appellate Tribunal allowed it, a decision upheld by the High Court. The Revenue appealed to the Supreme Court, …
The petitioners, IBI Consultancy India Private Limited and its parent IBI Group, entered into six contracts with DSC Limited for toll and traffic management systems on two highway projects. The contracts contained an arbitration clause stipulating that disputes be referred to an independent …
Mackintosh Burn Ltd, a public company with the Government of West Bengal as majority shareholder, refused to register the transfer of 100 shares to itself, alleging that the applicant was controlled by a competitor and that the transfer could affect the company’s interest. The respondent sought …
Indiabulls Housing Finance Ltd (appellant) sought to enforce loan recovery against Deccan Chronicle Holdings Ltd and others under the SARFAESI Act after the original lender, Indiabulls Financial Services Ltd (IBFSL), merged into Indiabulls Housing Finance. The High Court held that SARFAESI could not …
The petition challenged the operation of multinational accounting firms (MAFs) in India through Indian chartered accountant firms (ICAFs) that used the same brand name, alleging violations of Sections 25 and 29 of the Chartered Accountants Act, the Companies Act, FDI policy, RBI and FEMA …
Sundaram Finance Ltd. granted a loan to Abdul Samad, who defaulted, leading to arbitration under the loan agreement. An ex parte award of Rs.12.69 lakh was made, and Sundaram sought execution of the award in the Morena court, which dismissed the application for lack of jurisdiction, directing the …
The appellants sought to enforce a foreign arbitral award in Gujarat High Court, which ordered enforcement. They then challenged the order by filing an appeal under Section 13(1) of the Commercial Courts Act, arguing that an appeal was permissible even though Section 50 of the Arbitration and …
The Competition Commission of India (CCI) appealed against a penalty imposed on four Multi System Operators (MSOs) for terminating a cable‑TV broadcast agreement with a news channel, Day & Night News, alleging abuse of dominant position. The MSOs held about 85% of the cable‑TV subscriber base in …
The case concerned the rehabilitation of about 800 slum dwellers in Mumbai who owned the land through a cooperative society. Susme Builders (the appellant) and J.G. Developers (respondent No.4) each claimed to have the consent of at least 70% of the eligible slum dwellers required under the …
The Supreme Court examined two pivotal questions arising under the Insolvency and Bankruptcy Code, 2016: (i) whether the requirement in Section 9(3)(c) to attach a certificate from the financial institution confirming non‑payment of an operational debt is a mandatory condition precedent, and (ii) …
Venture Global Engineering (Venture) and Tech Mahindra (formerly Satyam) entered into a joint‑venture agreement under which each held 50% of a JV company. An arbitration under the London Court of International Arbitration awarded the shares of Venture to Satyam, finding Venture in default. After the …
The appellants borrowed money from the respondent, securing the loan with seven immovable properties. Their loan account was declared a non‑performing asset and the parties’ contract contained an arbitration clause, leading the respondent to initiate arbitration while also issuing notices under …
The appellant, Terapalli Dyvasahata Kumar, filed a petition under Section 23 of the Andhra Pradesh Societies Registration Act, 2001, seeking declarations and injunctions concerning the management of a society. The District Court allowed the petition, holding that "District Court concerned" should be …
Laurel Energetics Pvt. Ltd. (appellant) acquired 18% of Rattan India Infrastructure Ltd., the target company, in July 2014 at Rs 6.30 per share. In October 2015 it made an open offer to acquire the remaining shares at Rs 3.20 per share. SEBI held that the acquisition was not exempt under Regulation …
Mis Unichem Laboratories Ltd., a company that provided housing to its industrial workers under the Uttar Pradesh Industrial Housing Act, 1955, sought eviction of Rani Devi and others who continued to occupy a quarter after the original allottee, Dharam Dev Yadav, retired and later died. The company …
McDowell & Co Ltd acquired the sick company Hindustan Polymers Ltd (HPL) by amalgamation effective 1 April 1977. HPL’s banks waived interest on loans, which under Section 41(1) of the Income‑Tax Act would normally be taxable income. The assessee claimed the benefit of Section 72A, allowing it to set …
Zenith Infotech Ltd filed a reference under the Sick Industrial Companies (Special Provisions) Act, 1985 before the Board for Industrial and Financial Reconstruction (BIFR). The Registrar of the Board refused to register the reference on the ground that the company was not an "industrial company" …
The Securities and Exchange Board of India (SEBI) appealed against the Securities Appellate Tribunal’s order that had set aside the Adjudicating Officer’s finding of a violation of Regulation 22(7) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. Burren Energy India …
The appellants Pramod Jain and others made a hostile public offer to acquire 25% of Golden Tobacco Ltd. and later sought to withdraw the offer, alleging that SEBI’s undue delay in approving their draft letter of offer allowed the target company to siphon assets and erode its net worth, defeating the …
The partners of the dissolved partnership firm Mis. Mangalore Ganesh Beedi Works sold the firm's assets as a going concern to an Association of Persons (AOP-3) after winding‑up proceedings. The Assessing Officer treated the partners' share of the sale proceeds as capital gains in their individual …
The dispute involved the Sanwalka group, who alleged oppression by the Gupta group after the latter took control of Tin Plate Dealers Association Pvt. Ltd. The Sanwalka group filed a company petition under ss.397/398 of the Companies Act, 1956 challenging the forfeiture of their shares, the issuance …
The Centre for Public Litigation filed a writ petition under Article 32 seeking an independent investigation into alleged administrative and financial irregularities of the Industrial Finance Corporation of India (IFCI), a public financial institution with substantial loans, grants and guarantees …
The Supreme Court examined whether the directors of Gaurav Agrigenetics Ltd. violated Section 12(1B) of the SEBI Act by operating a collective investment scheme without a registration certificate. It held that Section 12(1B) creates an absolute, mandatory bar for new operators from 25‑Jan‑1995 until …
Deve Sugars Ltd. was ordered to be wound up and its assets were taken over by an Official Liquidator. The State Bank of Mysore sought to recover a debt under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and obtained leave from the Company Court (High Court, Madras) on 10 …
Madura Coats Ltd sought to enforce a winding‑up order against Modi Rubber Ltd. The Company Court ordered winding up, but Modi Rubber filed a reference to the Board of Industrial and Financial Reconstruction (BIFR) under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). The High …
The Cellular Operators Association of India and other telecom service providers challenged the Telecom Consumers Protection (Ninth Amendment) Regulations, 2015, which required service providers to credit Rs 1 to the calling consumer for each call drop (up to three per day). The Delhi High Court …
The Supreme Court examined multiple Special Leave Petitions (SLPs) arising from a protracted dispute over the acquisition and transfer of shares in Bombay Oxygen Corporation Ltd. The dispute involved Messer Holdings GmbH (MGG), Goyal Gases Ltd (GGL), the Ruia family (RUIAS) and a joint venture …
The Central Bureau of Investigation appealed against orders that held the Chairman‑cum‑Managing Director and Executive Director of Global Trust Bank (a private bank before its 2004 amalgamation with Oriental Bank of Commerce) were not public servants for purposes of the Prevention of Corruption Act, …
Madras Petrochem Ltd. and another filed appeals challenging a Delhi High Court order that stayed the winding‑up of the company before the BIFR. The core dispute was whether the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) …
The Supreme Court examined whether a Company Court or an Official Liquidator can control the sale of secured assets by a secured creditor under the SARFAESI Act when the borrower is a company under winding up. Pegasus Assets Reconstruction Ltd, the secured creditor, sought to enforce its security …
Gautam Kundu, chairman of Rose Valley, was arrested for alleged money‑laundering offences under the Prevention of Money Laundering Act, 2002 (PMLA) and related violations of the SEBI Act. He sought bail under Section 439 of the Code of Criminal Procedure, but the Calcutta High Court rejected the …
The respondent, Brijlal Sadashuk Modani, was a senior employee of Osmanabad Janata Sahakari Bank Ltd., a multi‑state cooperative bank. While in service he received notices from the Anti‑Corruption Bureau demanding details of his assets, which he contested on the ground that the Prevention of …
The case involved four brothers who owned a family business and entered into an arbitration agreement in 1984 to partition the business. An arbitrator issued an award in 1987, but subsequent litigation in the Bombay, Rajasthan and Delhi High Courts resulted in family settlement schemes in 1994 and …
The case concerned stock brokers who had converted their individual or partnership membership into a corporate entity before 1 April 1997 and sought the fee‑continuity benefit under paragraph 4 of Schedule III of the SEBI (Stock Brokers and Sub‑Brokers) Regulations, 1992. SEBI denied the benefit, …
The dispute arose in Biological E. Ltd. after the death of its promoter, when the widow (respondent No.1) and her three daughters were appointed directors. The widow challenged the validity of board meetings held on 9‑4‑2013, 10‑4‑2013 and 11‑4‑2013, the appointment of her daughters as directors and …
The Supreme Court examined a dispute over the transfer of shares of Jai Mahal Hotels Pvt. Ltd. after the death of Late Maharaja Jagat Singh, who had bequeathed his shares to his mother Gayatri Devi (GD). GD and the grandchildren (the DR Group) obtained a succession certificate and GD executed a …
M/s Purolator India Ltd, a manufacturer of excisable filter elements, claimed deductions for cash discount, volume discount and sales tax while filing excise returns. The Commissioner of Central Excise rejected the cash‑discount deduction and affirmed duty on other items, leading to an appeal. The …
Stantech Project Engineering Pvt Ltd filed winding‑up petitions against Nicco Corporation Ltd for unpaid debts that the respondent had admitted. The Company Judge allowed the respondent’s counsel to obtain a concession to pay the debt in installments, thereby postponing the publication of the …
Tech Invest India Pvt Ltd, a company under winding up, had its assets valued at around Rs 6‑7 crores. The Official Liquidator sold the assets at a public auction for Rs 45.45 lakhs without fixing a reserve price and with inadequate publicity. The major shareholder, Rajiv Gosain, challenged the sale, …
The Supreme Court considered an appeal by Laxmi Fibres Ltd., a company under liquidation, challenging a condition imposed by the High Court that the Official Liquidator must adjudicate the claims of A.P. Industrial Development Corporation and A.P. State Financial Corporation, both secured creditors …
The appellants, landowners in five villages of Raipur district, challenged the Kamal Vihar Township Development Scheme (KVTDS) prepared by the Raipur Development Authority (RDA) under the Madhya Pradesh Nagar Thatha Gram Nivesh Adhiniyam, 1973. They alleged that the scheme was formulated without the …
The Securities and Exchange Board of India (SEBI) debarred Panasia Advisors Ltd. and its managing director for ten years, alleging that as lead managers they facilitated a fraudulent scheme involving Global Depository Receipts (GDRs) of six Indian companies, creating a false appearance of foreign …
The Madras Bar Association challenged several provisions of the Companies Act, 2013 relating to the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), alleging that their constitution and the qualifications for members violated the basic structure of the …
The Supreme Court examined whether the holding company Shaw Wallace and its subsidiary Detergents India Ltd. were "related persons" under Section 4(4)(c) of the Central Excise and Salt Act, 1944 and whether proviso (iii) to Section 4(1)(a) applied to the valuation of excisable goods sold at a lower …
The complainant, a promoter‑director of a biomass power company, filed a private complaint alleging conspiracy, false declarations and cheating under Section 628 of the Companies Act, 1956 and Sections 1208 and 420 of the Indian Penal Code. The Special Judge for Economic Offences took cognizance, …
Harmony Innovation Shipping Ltd. entered into a charter agreement with Gupta Coal India Ltd. that stipulated arbitration in London, governed by English law, and specified the arbitrators as members of the London Arbitration Association. The appellant sought interim relief under Section 9 of the …
The appellant, Sharad Kumar Sanghi, Managing Director of Sanghi Brothers (Indore) Ltd., was charged under Section 420 IPC for allegedly cheating a buyer by delivering a vehicle with a replaced engine after an accident. The complaint, filed under Section 200 of the CrPC, primarily alleged wrongdoing …
The Uttar Pradesh State Industrial Development Corporation (UPSIDC) leased industrial plots to several companies under licence agreements and lease deeds that contained clauses prohibiting any transfer, assignment or alteration of the lessee's interest without the lessor's written consent. The …
The Supreme Court examined the constitutional validity of the amendment to Section 2(1)(o) of the SARFAESI Act, which altered the definition of a non‑performing asset (NPA) to allow different regulators to prescribe classification guidelines for their respective creditors. The petitioners argued …
The Supreme Court examined whether an Official Liquidator, appointed to wind up Premier Cable Company Ltd., qualifies as a "dealer" under the Kerala General Sales Tax Act, 1963 and consequently bears sales tax liability on the auction sale of the company's assets. The Court held that the liquidator, …
B.P.L. Ltd., facing severe financial distress, sought approval of a scheme of arrangement under Section 391 of the Companies Act, 1956. Infrastructure Leasing & Financial Services Ltd. (the appellant) was a secured creditor with a hypothecation charge registered against B.P.L. but later argued that …
The appellant, a non‑executive director of M/S Elite International Pvt. Ltd., was charged under Section 138 read with Section 141 of the Negotiable Instruments Act for the dishonour of cheques issued by the company. She had resigned from the board on 17‑December‑2005, while the cheques were …
The Mineral Exploration Corporation Ltd, a government-owned public sector undertaking, faced severe financial losses and, under a government‑approved restructuring plan, announced a wage revision effective from 1 April 2003 and to be implemented from 1 April 2006. Employees who had voluntarily …
E. Bapanaiah, a depositor, filed a contempt petition against K.S. Raju, promoter director of Nagarjuna Finance Ltd., alleging wilful breach of an undertaking given to the Company Law Board (CLB) to repay deposits. The High Court division bench set aside the conviction and sentence imposed by a …
The appeal concerned a minority shareholder of Gharda Chemicals Ltd., a company that started as a private firm but became a public (hybrid) company under Section 43A of the Companies Act, 1956. The Articles of Association contained Article 57, a pre‑emption clause restricting share transfers, which …
The petition concerned the sale of 291 plots belonging to Vitta Mazda Ltd, a company under liquidation. The Official Liquidator, following orders of the Company Court, attempted to auction the plots at prices far below market value, prompting the petitioners to challenge the price fixation and the …
KSL & Industries Ltd. appealed against a Delhi High Court order that set aside a Debt Recovery Tribunal decision allowing the appellant to recover Rs. 25.26 crore from M/s. Arihant Threads Ltd. The dispute centered on whether the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) – …
The appellant, Gunmala Sales Private Ltd., challenged the Calcutta High Court’s order quashing criminal complaints under Section 138 read with Section 141 of the Negotiable Instruments Act against several directors of the accused company. The Supreme Court held that a complaint must specifically …
The case concerned workmen employed by a contractor to run a statutory canteen on the premises of Air India, which under Section 46 of the Factories Act, 1948, must provide such a facility. The workmen claimed they were deemed employees of Air India and sought regularisation and other employment …
P. Holding Asia Singapore Ltd. and its holding company acquired 53.46% of Andhra Pradesh Paper Mills Ltd. from the Bangur group for Rs. 523 per share, also paying an exclusivity fee and a non‑compete fee of about Rs. 277.95 crore. SEBI directed the acquirers to increase the public offer price by …
The Supreme Court examined petitions seeking to shift investigation of the multi‑state chit‑fund (Ponzi) scam, which defrauded lakhs of depositors of roughly Rs 10,000 crore, from the State Police to the Central Bureau of Investigation (CBI). The scam involved companies operating across West Bengal, …
Two business groups that had entered into a joint venture fell out over shareholding and director appointments, leading to a cascade of more than 80 proceedings, including company law petitions, contempt suits and criminal complaints under Section 340 Cr.P.C. The Supreme Court noted the deadlock …
National Aluminium Company Ltd. (NALCO) had established two schools for the children of its employees and entered into management agreements with external trusts. The school staff filed writ petitions claiming they were employees of NALCO and entitled to parity of pay with NALCO's own workers. The …
The Oil and Natural Gas Corporation (ONGC) supplied gas to Ambica Mills Ltd., a member of a gas‑consuming association, under a 1987 Supreme Court interim order that fixed the gas price and required the company, then in liquidation, not to charge, encumber or alienate its immovable assets without …
The Supreme Court examined whether the Comptroller and Auditor General of India (CAG) could audit the accounts of private telecom service providers under the Unified Access Services (UAS) licences to verify revenue sharing with the Union. Service providers argued that the CAG’s powers under Article …
The appellants, who were tenants of premises mortgaged to banks, challenged the seizure of those premises by the secured creditors under the SARFAESI Act. The Supreme Court examined whether a lease made by the mortgagor, either before or after the mortgage, remains valid and binding on the secured …
The landlord (Mis. S.F. Engineer) sought eviction of its tenant Metal Box India Ltd. and the tenant's former employee under Section 13(1)(e) of the Bombay Rent Act, alleging unlawful sub‑letting. The trial and appellate courts held that the tenant had not part‑ed with legal possession nor received …
The employee, Chhota Birsa Uranw, joined Bharat Coking Coal Ltd. in 1973 with a date of birth recorded as 15‑Feb‑1947. He later discovered that his school leaving certificate and Mining Sardarship certificate recorded his birth as 6‑Feb‑1950 and sought correction under Implementation Instruction No. …
The appellant, a promoter/shareholder of Relectronics Ltd., challenged the Karnataka Industrial Areas Development Board’s termination of a lease‑cum‑sale agreement for two industrial plots allotted to the company, arguing that the company owned the land and that the Board required prior court …
The case concerned the sale of a mortgaged property by a bank under the SARFAESI Act. The Supreme Court examined whether the bank, as a secured creditor, had complied with Section 13(8) of the Act and Rules 8 and 9, which require a 30‑day individual notice and a public notice before any sale. It …
Deepak Bhandari, a director and guarantor of a defaulting industrial company, challenged a suit filed by Himachal Pradesh State Industrial Development Corporation Ltd. for recovery of a loan balance. The corporation had taken possession of the company's mortgaged assets under Section 29 of the State …
The appellant, a landlord, sought to evict a tenant occupying a flat owned by his father under a licence agreement with a company that later went into winding up. While the eviction suit was pending, the appellant applied under section 446 of the Companies Act, 1956 for the court's permission to …
The Bihar Hill Area Lift Irrigation Corporation (BHALCO), a government company of Bihar, was transferred to the newly created Jharkhand Hill Area Lift Irrigation Corporation (JHALCO) after the bifurcation of Bihar under the Bihar Reorganisation Act, 2000. Employees of the erstwhile BHALCO filed writ …
The petitioner challenged the appointment of U.K. Sinha as Chairman of SEBI on grounds that he failed to satisfy the statutory requirement of "high integrity" under Section 4(5) of the SEBI Act, alleging mis‑representation, irregular deputation, false declarations, and a conspiracy to secure his …
The Supreme Court examined complaints filed under Section 138 of the Negotiable Instruments Act against Gujarat State Fertilizer Co. Ltd. and its directors, including A.K. Singhania and Vikram Prakash, for dishonour of cheques. The key issue was whether the complaints specifically alleged that the …
The National Federation of the Blind filed a writ petition seeking enforcement of Section 33 of the Persons with Disabilities Act, 1995, alleging that the Union failed to provide the mandated 3% reservation for persons with disabilities, especially the blind and low‑vision categories. The High Court …
The Supreme Court considered appeals filed by Yash Deep Trexim Private Limited against Namokar Vinimay Pvt. Ltd. and others, challenging a Calcutta High Court order that applied the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) to a foreign company registered in India. The Court …
Hill Properties Ltd., the appellant, claimed ownership of Flat No.23 in Mumbai, asserting that the flat was allotted to its shareholder (Respondent No.5) who could only occupy it and could not mortgage it without the company's consent under its Articles of Association. Respondent No.5 had created an …
Integrated Finance Co. Ltd., a non‑banking financial company, was inspected by the RBI which found multiple violations and issued a circular prohibiting it from accepting deposits. The company, facing profitability problems, proposed a scheme of compromise under Section 391 of the Companies Act to …
Bhagwati Developers Pvt. Ltd. sought registration of 14,120 shares of Peerless General Finance & Investment Co. that it had acquired as repayment of a loan. Peerless refused, alleging the transfer violated the Securities Contracts (Regulation) Act, 1956. The Company Law Board and the Calcutta High …
The Union of India prosecuted M/s Maple Leaf Trading International Pvt. Ltd. and its foreign shareholders for trading imported gold coins without RBI permission, alleging violations of Sections 19(1)(a), 19(1)(d), 29(1)(b), 47(1), 49(1)(a) and 68 of the Foreign Exchange Regulation Act, 1973. The …
The Registrar of Companies filed a complaint alleging that V.L.S. Finance Ltd. misrepresented land holdings in its balance sheet, an offence punishable under Section 211(7) of the Companies Act, 1956. While criminal prosecution was pending, the company and its managing director applied to the …
The Bank of Maharashtra obtained a recovery certificate against Paper and Pulp Conversions Ltd. and, through the Debt Recovery Tribunal (DRT), sold the company's movable assets, retaining a portion of the proceeds. The company was subsequently ordered to be wound up and an official liquidator was …
The appellant, N. Narayanan, a whole‑time director and promoter of Mis Pyramid Saimira Theatre Ltd., was found to have participated in a scheme that inflated the company’s revenues, profits, security deposits and receivables, thereby creating artificiality in its financial statements. SEBI’s …
The appellants, former employees of the Overseas Communication Service (OCS), were transferred to Videsh Sanchar Nigam Limited (VSNL) and later to Tata Communications Limited (TCL) after the government's disinvestment. They challenged the termination of their services, arguing that VSNL/TCL was a …
Bhagwati Developers Pvt. Ltd. (the appellant) sought to revive a winding‑up petition filed under Sections 397 and 398 of the Companies Act, 1956 by two shareholders with its consent after the original petitioners withdrew their appeals. The High Court dismissed the appellant's applications, holding …
The Karnataka State Financial Corporation (KSFC) sold the lease‑hold rights of the closed industrial concern Mysore Panel and Boards Pvt Ltd, whose 83 workmen had earlier been awarded statutory dues of Rs 29,17,062 by courts under Section 33‑C of the Industrial Disputes Act and the Payment of …
The Official Liquidator of a company in liquidation challenged the setting aside of an auction and sale of the company's assets that had been conducted by a Recovery Officer under the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (ROB Act). The Company Judge of the High Court …
PGF Limited, which sold and developed agricultural land and ran joint‑venture schemes, was directed by SEBI to cease collecting money and to refund investors, on the ground that its activities constituted a collective investment scheme (CIS) under Section 11AA of the SEBI Act. PGF challenged the …
Balmer Lawrie & Co. Ltd., a government‑owned company, terminated the services of employee Partha Sarathi Sen Roy under a clause that allowed dismissal at the company's sole discretion without reason. The employee challenged the termination by filing writ petitions, contending that the clause was …
M/s Informetrics Valuation and Rating Pvt. Ltd. applied to SEBI for registration as a credit rating agency, submitting a chartered accountant's net‑worth certificate based on a bank’s confirmation rather than audited accounts of its promoter. SEBI demanded audited accounts of the promoter for the …
The Supreme Court dealt with the sale of immovable property of Jay Electric Wire Corporation Ltd., a company under liquidation, which had been sold to the appellants for Rs. 2.50 crore in 2006. Secured creditors and the workmen's union challenged the sale, alleging procedural irregularities, unfair …
The appellants were charged under Section 138 of the Negotiable Instruments Act for dishonouring cheques. The complaint filed by the payee was not signed by the complainant but was later verified and signed on a verification statement before the magistrate. The legal issue was whether a complaint …
New Horizon Sugar Mills Ltd and its directors, who had guaranteed a bank loan, defaulted and faced attachment of their properties under the Pondicherry Protection of Interest of Depositors in Financial Establishments Act, 2004. They challenged the validity of that Act and a government order …
The appellant workmen sought priority over the sale proceeds of unsecured assets of UMI Special Steels Ltd., arguing that under Sections 529 and 529A of the Companies Act, 1956, workmen's dues should rank ahead of secured creditors on those assets. The respondents, representing the secured …
The Supreme Court dismissed appeals by Sahara India Real Estate Corporation Ltd. and Sahara Housing Investment Corporation Ltd. against SEBI's order to refund over Rs. 17,400 crores collected through Optionally Fully Convertible Debentures (OFCDs). The Court held that the OFCDs were public issues, …
The landlord, Raju Jhurni, obtained an eviction decree against the tenant company under the West Bengal Premises Tenancy Act, 1956, but the decree did not determine the arrears of rent. He then filed a winding‑up petition before the Company Court under Sections 433, 434 and 439 of the Companies Act, …
The Supreme Court Bar Association (SCBA) had been directed by the Supreme Court in 2011 to identify regular practitioners for voting rights under the "One Bar One Vote" principle. While the Implementation Committee was carrying out this task, the SCBA held a General Body Meeting on 16 January 2012 …
NTPC Ltd invited bids for a super‑critical steam‑generator package and rejected the bid of Ansaldo Caldaie Boilers India Ltd on the ground that its proposed Qualified Steam Generator Manufacturer had not designed and engineered the evaporator, an integral part of the generator, but had outsourced …
The appellant, a joint managing director of a large export company, was arrested in 2010 on several economic offences alleged by multiple banks and the CBI. After a prolonged period of custody, intermittent interim bail on medical grounds, and the filing of charge sheets without framing of charges, …
NRC Ltd, a sick industrial company, entered into a memorandum of understanding and subsequent agreements with K. Raheja Universal Ltd for the sale of 344 acres of land to raise funds for restructuring. The sale was only partially paid and the company later sought a corporate debt restructuring (CDR) …
The appellants sought to have criminal complaints under Section 138 of the Negotiable Instruments Act, read with Section 141, dismissed on the ground that a scheme of compromise approved under Section 391 of the Companies Act had automatically compounded the offences. The Supreme Court examined …
The Supreme Court examined Vodafone International Holdings' acquisition of the entire share capital of CGP Investments (Holdings) Ltd., a Cayman Islands company that indirectly held a 52% stake in Hutchison Essar Ltd. (HEL). The Revenue argued that the sale of CGP, together with associated rights …
The workers of Philips India Ltd. opposed the transfer of their factory to Kitchen Appliances India Ltd. and refused to join the new employer. After the Labour Department declined to refer their dispute to a tribunal, the workers filed a writ petition seeking retirement and retrenchment benefits. …
The Air India Cabin Crew Association challenged the management’s revised promotion policy and the government’s 2003 directive that equalised the retirement and flying ages of male Flight Pursers and female Air Hostesses. The petitioners argued that these changes violated earlier bilateral …
Anita Malhotra, a former non‑executive director of Lapareil Exports (P) Ltd., resigned on 31‑08‑1998. In 2004 the company issued cheques that were later dishonoured, and the Apparel Export Promotion Council filed a complaint under Section 138 of the Negotiable Instruments Act, naming Malhotra as …
The appellants, who together held over 90 lakh shares in Apollo Tyres, had their holdings attached under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992. The Custodian prepared a scheme for sale of the attached shares, which the Special Court approved, …
The Chatterjee Group filed a Company Petition under Sections 397, 398, 399, 402, 403 and 406 of the Companies Act, 1956 alleging oppression by Haldia Petrochemicals Ltd. (HPL) for failing to register 155 million shares transferred to them and for allotting 150 million shares to Indian Oil …
The appellant, a Mahila cooperative society, challenged the award of a contract for supplying fortified blended food under the Integrated Child Development Scheme, arguing that the eligibility criteria in the Expression of Interest (EOI) were arbitrary and that the contract period should be limited …
Bharat Steel Tubes Ltd. challenged a Delhi High Court order that held IFCI Ltd. to be a "public financial institution" under Section 4A of the Companies Act, 1956 and therefore entitled to enforce a security interest under the SARFAESI Act, 2002. The petitioner argued that the Central Government no …
The petitioners challenged the constitutional validity of the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 (as amended in 2003), arguing that it encroached upon Union legislative competence (entries 43‑45 of List I) and violated Articles 14, 19(1)(g) and …
The appellant, claiming to be the sole proprietor of Vijaya Automobiles, filed a complaint under Section 138 of the Negotiable Instruments Act against the respondent who issued a cheque in the name of the firm that later bounced. The trial court and appellate court convicted the respondent, but the …
Electronics Corporation of India Ltd (ECIL), a central government PSU, challenged show‑cause notices issued by the Ministry of Finance that sought reversal of Modvat/Cenvat credit on inputs that had been written off. The adjudicating authority rejected ECIL’s claim that the write‑off complied with …
The complainants placed orders with Rifa Healthcare (India) Pvt. Ltd. and issued demand drafts, but the company failed to deliver the goods and later issued 18 cheques that were dishonoured. The complainants filed complaints under Sections 138 and 141 of the Negotiable Instruments Act, implicating …
Sesa Industries Ltd. (SIL), a subsidiary of Sesa Goa Ltd. (SGL), sought court sanction for a scheme of amalgamation with SGL. The sole dissenting shareholder, Krishna H. Bajaj, intervened, highlighting an inspection report under s.209A that alleged financial irregularities and siphoning of funds. …
The petitioners, industrial units in the hill areas of Uttar Pradesh, claimed a 33.33% Hill Development Rebate on electricity charges granted under a 1996 notification issued pursuant to Section 49 of the Electricity (Supply) Act, 1948. Subsequent notifications reduced the rebate to 17% and finally …
Indo Rama Synthetics (I) Ltd. revalued its fixed assets in FY 2000, creating a revaluation reserve of Rs 288.58 crore. In FY 2001 it transferred Rs 26.11 crore of differential depreciation from that reserve to its profit‑and‑loss account, thereby reducing depreciation expense and showing a profit. …
The Supreme Court examined whether Minimum Alternate Tax (MAT) credit under Section 115JAA of the Income Tax Act, 1961 must be set off against assessed tax before computing interest under Sections 234A, 234B and 234C. It held that the tax paid under Section 115JA is a "tax" within the meaning of the …
The Commissioner of Central Excise appealed against the CEGAT order that held Kwality Ice Cream Co. and its buyer, Brooke Bond Lipton India Ltd. (later HLL), were not "related persons" under Section 4(4)(c) of the Central Excise Tariff Act, 1985. The revenue argued that the sourcing agreement gave …
Iridium India Telecom Ltd. filed a criminal complaint alleging cheating by Motorola Inc. (respondent No.1) for misleading investors about the Iridium satellite system. The Bombay High Court, invoking Article 227 and Section 482 of the CrPC, quashed the magistrate's process, holding that a …
Dozco India Ltd entered a distributorship agreement with Doosan Infracore Co. Ltd, a Korean company. The agreement contained an arbitration clause (Article 23) stating that disputes would be finally settled by arbitration in Seoul, Korea, under ICC Rules, and Article 22 made Korean law the governing …
ICICI Bank assigned a portfolio of non‑performing assets (NPAs) worth Rs 52.45 crore to Kotak Mahindra Bank under a deed of assignment. One of the borrowers, APS Star Industries Ltd., entered liquidation and Kotak sought to be substituted as the secured creditor in the winding‑up proceedings. The …
The case arose from a tripartite agreement between the Fertilizer Corporation of India Ltd (FCIL), Indian Explosives Ltd (IEL) and Bharat Coking Coal Ltd (BCCL) for the supply of ammonium nitrate. IEL later filed a criminal complaint alleging that senior FCIL officials (the appellants) and a third …
The appellant, IBA Health (India) Ltd., challenged a winding‑up petition filed by the respondent, Info‑Drive Systems Bhd., which alleged non‑payment of commission fees under a deed of settlement. The petition relied on Sections 433(e) and 434 of the Companies Act, 1956, claiming the appellant had …
Automobile Products India Ltd filed a criminal complaint under Section 630 of the Companies Act, 1956 against its former caretaker, Das John Peter, for refusing to vacate a servant quarter after retirement and for allowing his daughter to occupy it. The company filed the complaint through its …
The appellant, a former Indian Air Force air corporal who later served with the Department of Atomic Energy and Nuclear Power Corporation, had elected a pro‑rata pension on retirement and subsequently sought to change his option to a combined civil‑military pension. His multiple representations to …
The appellant, Speedline Agencies, occupied a building and land leased from United Coffee Supply Co. Ltd., later renamed Stanes Tea and Coffee Ltd., for over four decades. The landlord filed a petition under sections 10(3)(a)(i) and (iii) of the Tamil Nadu Buildings (Lease and Rent Control) Act, …
The Supreme Court examined the constitutional validity of Chapters 1B and 1C of the Companies Act, 1956 (as amended by the Companies (Second Amendment) Act, 2002) which created the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) and transferred the …
The Madras Bar Association challenged the constitutional validity of the National Tax Tribunal Act, 2005 and the provisions of Article 323B (and Article 3238) of the Constitution, arguing that the Act undermines the basic structure by creating a parallel tribunal system under executive control. The …
Reliance Natural Resources Ltd. (RNRL) and Reliance Industries Ltd. (RIL) entered into a Scheme of Arrangement under the Companies Act, 1956, based on a family Memorandum of Understanding (MoU) between the Ambani brothers. RNRL sought enforcement of gas supply terms from RIL, alleging that the Gas …
The petitioners, minority shareholders of a joint venture company (APAKSH Broadband Ltd.), alleged that the majority shareholder, which was also the EPC contractor, mismanaged funds and oppressed them, seeking winding up under Sections 397, 398, 402 and 403 of the Companies Act, 1956. The Company …
Wescare (I) Ltd. entered into a sale agreement on 24‑Feb‑2006 with Subuthi Finance Ltd., which contained an arbitration clause. Indowind Energy Ltd., promoted by Subuthi, was not a signatory to the agreement and its board had not approved it. Wescare filed a petition under Section 11(6) of the …
The dispute arose between Andhra Pradesh Tourism Development Corporation Ltd (APTDC) and Pampa Hotels Ltd over lease and management agreements executed on 30‑March‑2002, which contained arbitration clauses. Pampa Hotels Ltd was incorporated only on 9‑April‑2003, so it did not exist when the …
The case concerned two writ petitions challenging the termination of a disabled employee by a private limited company and the termination of a contract with a public trust. Both petitioners sought relief under section 47 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and …
The appeal concerned whether depreciation for computing book profit under Section 115J of the Income Tax Act should be allowed as per Rule 5 of the Income Tax Rules, 1962, rather than Schedule XIV of the Companies Act, 1956. The assessee, a private limited company, had claimed depreciation under the …
The appellant, National Small Industries Corporation Ltd., filed criminal complaints under Section 138 read with Section 141 of the Negotiable Instruments Act against the managing director and a director of the defendant company for dishonoured cheques. The High Court quashed the summoning orders …
The case concerned whether a Non‑Banking Financial Company (NBFC) could treat the "Provision for NPA" debited to its profit‑and‑loss account, as required by RBI Directions 1998, as income under s.2(24) of the Income Tax Act or claim a deduction under s.36(1)(vii). The Supreme Court held that the RBI …
Shree Baidyanath Ayurved Bhawan Pvt. Ltd. filed a FIR and the respondents applied for anticipatory bail. The Punjab & Haryana High Court, by an ex parte order dated 27‑12‑2005, directed the Chief Judicial Magistrate to release the respondents on bail, effectively making the interim order a final …
The case concerned whether Hotel Queen Road Pvt. Ltd., a special purpose vehicle, had converted into a public company by resolutions passed on 30 September 2002, which were accompanied by a Form 23 filing and a statement in lieu of prospectus. The conversion would affect the applicability of Section …
The appellant filed complaints under section 138 of the Negotiable Instruments Act against a company and its officers, including the Deputy General Manager (first respondent), for dishonoured cheques. The trial court issued summons to all accused, but the Deputy General Manager sought quashing of …
Suraj Lamp & Industries Ltd. filed a Special Leave Petition challenging a High Court order that held Section 20 of the Right to Information Act, 2005 to be merely directory. The company alleged that its land purchase in Gurugram was effected through a sale agreement, General Power of Attorney and a …
M.D., Bhoruka Textiles Ltd. (appellant) supplied paddy husk to M/s Kashmir Rice Industries (respondent) but allegedly failed to receive payment, prompting the respondent to sue for Rs.2,61,696. The respondent contended that the appellant had become a "sick" industrial company under the Sick …
The respondent, a practising advocate, filed a complaint alleging that the construction and tarring of a road by an architect (appellant No.6) at the direction of the managing director and other directors of a company (appellants No.1‑5) caused wrongful restraint to him and his parents in accessing …
Nirmal Kaur, who operated a coaching centre, was charged under several IPC offences and under Section 13(1)(d) read with Section 13(2) of the Prevention of Corruption Act, 1988. The trial court framed charges under the Act, but the High Court quashed them, holding that she was not a public servant. …
The petition filed by Liz Investment Pvt. Ltd. before the Company Law Board (CLB) alleged that the appellant, Pranab Kumar Pal, diverted a corporate opportunity and sought to restrain his resignation as a director. The CLB initially ordered the appointment of three directors by the petitioner and …
The Madhya Pradesh State Co‑operative Dairy Federation Ltd., a society incorporated under the Madhya Pradesh Cooperative Societies Act, ordered the compulsory retirement of 52 employees who had completed 20 years of service. Sixteen employees challenged the order and were awarded 50% back wages by a …
The Commissioner of Income Tax appealed against the Delhi High Court’s order allowing M/s Woodward Governor India Ltd. to deduct unrealised foreign‑exchange losses on loans taken for revenue purposes. The Court examined whether such losses could be claimed under section 37(1) in the year the …
The State of Madhya Pradesh prosecuted directors of Indore Premier Co-operative Bank for allegedly sanctioning loans without proper verification, invoking Sections 409, 418, 420, 120‑B IPC and Section 13(1)(d) read with 13(2) of the Prevention of Corruption Act, 1988. The Trial Court framed charges, …
The appellants, who owned land intended for an international school and other projects, challenged the State's acquisition of their land for a housing scheme that was to be executed by a private joint‑sector company, Bengal Peerless. The High Court initially set aside the acquisition, but a Division …
The Supreme Court examined an appeal challenging a Bombay High Court interim order that appointed the High Court’s Official Receiver for the assets of a company and gave Sudha A. Chowgule exclusive powers to execute documents and induct tenants. The Court reiterated that under Order 40 Rule 1 of the …
The Supreme Court examined whether the statutory first‑charge provisions in the Bombay Sales Tax Act (s.38C) and the Kerala General Sales Tax Act (s.26B) conflicted with the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (ORT Act) and the Securitisation and Reconstruction of …
Al Champdany Industries Limited purchased the assets of a company in liquidation. After the sale was confirmed, Bhatpara Municipality claimed arrears of property tax for periods before the sale and sought payment from the purchaser. The High Court held that the sale terms "as is where is" imposed a …
The case concerned a residential flat allotted to Mr C.B. Saran, a managing director of XLO India Ltd., which after his resignation and death was occupied by his heirs (the appellants). The company filed a criminal complaint under Section 630 of the Companies Act, 1956 alleging wrongful withholding …
The Supreme Court examined the rejection of Zoom Developers’ consortium bid for the Vizhinjam seaport PPP project. The issues were whether the modified consortium agreement dated 11‑March‑2008 altered the membership of the consortium after the 31‑Jan‑2008 cut‑off, and whether the use of the term …
The Gupta group, originally holding a 50.9% stake in Aar Gee Board Mills, alleged that the Garg group illegally allotted 9,507 equity shares, reducing the Gupta shareholding to a minority and constituting oppression and mismanagement under Sections 397 and 398 of the Companies Act, 1956. The Company …
Ansal Properties & Industries Ltd., a colonizer, was directed by the Director, Town and Country Planning, Haryana to pay Rs.61,000 per gross acre as part of external development charges, allegedly for internal community buildings. The appellant contended that the demand was unauthorized because the …
M/s Malwa Strips Pvt Ltd filed a summary suit under Order XXXVII CPC against M/s Jyoti Ltd for a sum of money. The trial court granted conditional leave to defend, requiring the respondent to deposit an admitted amount, which the respondent failed to do, leading to a decree in favour of the …
Dhariwal Tobaco Products Ltd. and its senior officials were charged with manufacturing adulterated Gutkha, violating Rule 62(1) of the Prevention of Food Adulteration Rules, 1955. A Judicial Magistrate issued summons, and the accused filed an application under Section 482 of the Code of Criminal …
Vijay Industries, a small‑scale supplier of castor oil, sued Natl Technologies for non‑payment of invoices and for interest on delayed payments, filing a winding‑up petition under Sections 433(e), 433(f) and 434 of the Companies Act, 1956. The respondent argued that interest was not a debt because …
The Union of India and other appellants sought to recover central excise dues from SICOM Ltd., which had defaulted on a loan secured by a mortgage under the State Financial Corporation Act, 1951. The State Financial Corporation had taken possession of the mortgaged assets and claimed a first charge …
Speech & Software Technologies (India) Pvt. Ltd. entered into a Services Agreement with Neos Interactive Ltd. on 15 July 2006 for monthly service fees. The respondent argued that the Services Agreement was a schedule to a later Tripartite Share Purchase Agreement (TSPA) and that, because the TSPA …
The Tamilnad Mercantile Bank Share Holders Welfare Association (appellant) sought to restrain the election of directors at the bank's 83rd, 84th and 85th Annual General Meetings, alleging that the meetings violated a 26 July 2006 injunction that allowed only certain agenda items to be considered. …
The appellants, Chembra Orchard Produce Ltd. and others, filed applications under Section 391(1) of the Companies Act, 1956 seeking a court order to convene meetings of creditors and members for a proposed amalgamation scheme. The Karnataka High Court held that such applications must be heard with …
The National Small Industries Corporation Ltd. (NSIC), a government company, lodged a complaint under the Negotiable Instruments Act alleging that a cheque drawn in its favour was dishonoured. The complaint was filed by NSIC’s Development Officer, who is a public servant, and the Magistrate, relying …
Khoday Distilleries Ltd issued a rights issue; twenty of its twenty‑seven shareholders did not subscribe and the unissued shares were allotted to seven existing investment‑company shareholders. The company also issued fully paid bonus shares in a 1:23 ratio. The Assessing Officer treated both the …
The case concerned the grant of an LPG distributorship by Bharat Petroleum Corporation (BPC). An advertisement invited applications, disqualifying persons convicted of offences involving moral turpitude or those against whom charges had been framed. Respondent No.5 was selected but his empanelment …
The case concerned employees engaged by Official Liquidators under Rule 308 of the Companies (Court) Rules, 1959 who were paid from the liquidated company's fund ("company paid staff"). They sought regularisation, absorption into the regular cadre of the Department of Company Affairs and parity in …
M/s Hanu Motel Pvt. Ltd. entered into a loan agreement with U.P. Financial Corporation which was later cancelled and a demand notice issued. The company filed a suit in 2001, naming itself and its director Ram Raj Singh as plaintiffs, and obtained an interim injunction. During the appeal, the …
M/s. Everest Holding Ltd., a Chinese company, entered into a Joint Venture Agreement (JVA) with Shyam Kumar Shrivastava and his group for mining iron ore in India. The JVA contained an arbitration clause (cl. 14.3) and led to the incorporation of Everest Mining & Mineral Pvt. Ltd., for which the …
The assessee, M/s HCL Com Net Systems & Services Ltd, for Assessment Year 1997-98, debited Rs 92,15,187 as bad debts in its profit and loss account. The Assessing Officer (AO) added this amount back to the book profit under clause (c) of the Explanation to section 115JA(2) of the Income‑Tax Act, …
The respondent, Karnail Singh, was a Manager of the Punjab Agricultural Development Bank, a co‑operative bank. The trial court framed charges against him under sections 7 and 13(2) of the Prevention of Corruption Act, 1988, alleging he was a "public servant". He filed a criminal revision petition, …
The case arose from a family dispute between two brothers who were shareholders of a family concern. The petitioners filed a company petition under Sections 397 and 398 of the Companies Act alleging mis‑management and sought to compel the respondents to buy their shares at a price fixed by a valuer …
The landlords sought eviction of Oriental Insurance Company Ltd. (OIC) from premises in Thane, arguing that OIC, a Government company under Section 617 of the Companies Act, 1956, was exempt from protection under Section 3(1)(b) of the Maharashtra Rent Control Act, 1999. The High Court held that …
DCM Financial Services Ltd., a creditor of Pure Drinks Ltd., filed a winding‑up petition under the Companies Act, 1956, which initially restrained the debtor from alienating its assets. During the pendency, the debtor sold property in other proceedings and the purchaser agreed to pay Rs 1.95 crore …
Eastern Coalfields Ltd. purchased 1.26 acres of land from Dugal Kumar and, under its policy, offered 1008 metric tons (MT) of coal, which the petitioner accepted and was released. After a ten‑year delay, the petitioner filed a writ petition seeking an additional 1008 MT of coal; the Calcutta High …
The High Court ordered the winding up of a company on 2 December 1983 and appointed an Official Liquidator. The Liquidator filed misfeasance proceedings on 1 December 1989 under s.543(1) of the Companies Act, 1956, although the five‑year limitation prescribed in s.543(2) had expired on 1 December …
The appellant, Maghendra Pal Tyagi, claimed loss of 200 shares of Hero Honda Company and obtained duplicate share certificates by misrepresenting that the originals were lost. He transferred these duplicate shares to the first respondent, Jayant Davar, who later sought recovery of the purchase …
Tata Motors Ltd., an unsecured creditor, challenged a scheme of arrangement approved by the Bombay High Court under Section 391 of the Companies Act, 1956, which sought to settle debts of Pharmaceutical Products of India Ltd. (the sick company) while the matter was pending before the Board for …
Bakemans Industries Pvt. Ltd. (the appellant) defaulted on a loan from SICOM Ltd. under the State Financial Corporations Act, 1951. SICOM invoked Section 29 of that Act to take possession of the appellant's factory and sought sale of the assets, while the appellant and other creditors filed …
The Supreme Court examined SEBI’s action against the promoters of Ritesh Polyster Ltd., whose 1995 public issue was found to be a fraudulent hoax. SEBI directed the promoters – including the father, his wife and two sons who were minors at the time – to disassociate from the capital market for ten …
Mis. Mediline India (P) Ltd obtained a loan of Rs.5,00,000 and issued two cheques which bounced for insufficient funds. A complaint under Section 138 of the Negotiable Instruments Act and Section 420 IPC was filed against two directors, Ashish Narula and Manish Arora, who were later convicted. While …
The appellant, M.V. Janardhan Reddy, purchased a property of a company in liquidation at a public auction. The sale was to be confirmed by the Company Court, but the Recovery Officer of the Debt Recovery Tribunal confirmed it without court approval. The Company Court later set aside the sale, a …
The Uttar Pradesh State Mineral Development Corporation decided to retrench about half of its workforce, prompting the employees' Samiti to file a writ petition under Article 226 seeking absorption in other government departments or public sector undertakings and compensation. The Allahabad High …
The Haryana State Minor Irrigation Tubewells Corporation, a government company, denied a pay‑scale revision to its Assistant Engineers, Sub‑Divisional Officers and Law Officers, arguing that the duties differed from those of government engineers and that the corporation faced financial loss. The …
Malayala Manorama Co. Ltd. consistently claimed depreciation in its profit and loss account at the rates prescribed by the Income‑Tax Rules, not at the rates in Schedule XIV of the Companies Act. The Assessing Officer, invoking section 115J of the Income‑Tax Act, recomputed the company’s book profit …
Mis Parakh Foods Ltd., the manufacturer of "Shaktimaan Refined Soyabean Oil", was prosecuted for alleged misbranding under Rule 37 D of the Prevention of Food Adulteration Rules, 1955 after a public analyst claimed that the label’s pictures of various vegetables exaggerated the quality of the oil. …
The appellant, a director of a private limited company, challenged an order of the Company Law Board (CLB) that, despite finding no oppression, directed him to purchase the managing director's shares to resolve a deadlock between the two directors/shareholders. The Supreme Court examined whether …
The appellant, representing the Bangar Group, sought to revive Rohtas Industries Ltd, a sick company, by offering to purchase its assets for Rs.65.51 crore and invest Rs.650 crore for revival. The Patna High Court initially directed a sale notice for the assets and disposed of the appellant's …
Sumitomo Corporation, Punjab Tractors Pvt. Ltd. and Swaraj Mazda Ltd. entered into a joint venture agreement that later gave rise to disputes over shareholding and management. The respondents filed a company petition before the Company Law Board (CLB) under Sections 397, 398 and 402 of the Companies …
The appellants, directors and shareholders of Westfort Hi‑Tech Hospital Ltd., claimed that they were denied proper notice of the eleventh Annual General Meeting (AGM), were illegally removed from directorships despite a promise of permanent appointment, and that the issuance of right shares and …
The appellants, including Karnataka Bank Ltd., Shaw Wallace & Co., and a partnership firm, challenged notices requiring each of their branches in Andhra Pradesh to pay profession tax of Rs.2500 per annum, arguing that the explanation to the definition of "person" in the Andhra Pradesh Tax on …
Hindustan Petroleum Corporation Ltd. (the appellant) had engaged Ashok Ranghba Ambre on a casual basis as a compounder/dresser from 1984. Ambre filed a writ petition in 1992 seeking to be declared a permanent employee with retrospective benefits. The corporation stopped employing him in 1996, …
Venture Global Engineering (VGE) and Satyam Computer Services Ltd. (SCSL) entered into a joint venture and shareholders agreement that provided for arbitration of disputes. A dispute arose and SCSL obtained an award from the London Court of International Arbitration directing VGE to transfer its …
The appellants, former directors and guarantors of Adhunik Detergent Ltd., were joined as defendants in a civil suit filed by Union Bank of India for recovery of a loan. They appeared in the civil court, filed a written statement and raised preliminary objections, but the suit was later transferred …
The petitioners, an unaided school governed by the Delhi School Education Act, challenged the Election Commission’s practice of deploying teachers from government schools for election‑related duties during school hours, alleging that it disrupted education and violated the right to education. The …
Century Industries Textiles Ltd., after offering a Voluntary Retirement Scheme that left only 275 workers, filed an application under s.25‑0(1) of the Industrial Disputes Act, 1947 seeking permission to close its mill. The company later withdrew this application to pursue an amicable settlement …
Honda Siel Power Products Ltd, a manufacturer of generators, claimed enhanced depreciation under section 43A of the Income Tax Act for foreign‑exchange fluctuations in the cost of machinery. The Income Tax Appellate Tribunal rejected the claim, failing to consider a coordinate‑bench judgment (Samtel …
The Supreme Court examined whether the Companies (Accounting Standards) Rules, 2006 – which made Accounting Standard 22 (deferred tax) mandatory – exceeded the Central Government’s rule‑making power under s. 642 of the Companies Act, 1956 and conflicted with the Act’s provisions on true‑and‑fair …
Ratnabali Capital Markets Ltd. (RCML) sought to claim fee‑continuity under a SEBI circular dated 30 September 2002, arguing that its merger with Ratnabali Securities Ltd. (RSL) was compelled by law because SEBI’s Gupta Committee required a net‑worth of Rs 3 crore to trade in derivatives. The merger …
