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Corporate Law Judiciary

Present of Arbitration clause in the Purchase Contract is enough to proof the existing of Arbitration Agreement

 18 November 2011

The petitioner supplied goods duly received by the respondent, without any demur in relation to the quantity and quality of the goods. The bills raised by the documents were accepted by the negotiating bankers. It is the case of the petitioner that i..

Posted in Corporate Law |   2323 hits

Passing of Interim order must be in complied with Rule 1 and 2 of the Code of Civil Procedure 1908

 18 November 2011

The Government of Maharashtra, by Resolutions dated 16.10.1970 and 18.11.1974, had granted lease of certain plots of land to the defendant-Company at Backbay Reclamation, Cuffe Parade, Mumbai, who was entitled and authorized to enter into transaction..

Posted in Corporate Law |   2184 hits

As per sec 10 of Special Court Act 1992 securities un registered disclosed in the Custodian cannot be allowed to be Registered in the name of the Custodian

 16 November 2011

The appellants, one late Harshad S. Mehta, their other family members and the corporate entities belonging to the family members had purchased more than 90 lakh shares in Apollo. Except for the holding of two family members, the entire holding came..

Posted in Corporate Law |   1370 hits

Freight received in excess should be returned to the person received from otherwise interest liability will raise

 16 November 2011

We shall be referring to the parties as per their description in the plaint.Plaintiff (respondent No.1) sought RFA(OS) 12/1997 decree in sum of `7,43,568.88 alleging that M/s.Freight Wings and Travels Pvt. Ltd., defendant No.2, M/s.Daga Air Agents, ..

Posted in Corporate Law |   1440 hits

As per section 35A of the code award of compensatory costs in false and vexatious litigation, is subject to a ceiling of Rs.3,000

 07 November 2011

The appellant filed a memo dated 22.12.2009 stating that `25,50,000/- was incurred as advocates’ fees in the appeal. The respondents filed an affidavit dated 23.12.2009 stating that `45,28,000/- was spent as advocates’ fees in regard to the appeal. B..

Posted in Corporate Law 2 comments |   3387 hits

Gram Pachahat cannot recover Cess on Land Mining

 15 October 2011

Mining lease - Gram Panchayat Cess (GP Cess) - Demand - Legality - Whether the appellant was liable to pay the GP Cess - Held, effect of s. 127(1) was that wherever land revenue was payable by a person, such person liable to pay the land revenue, wou..

Posted in Corporate Law |   2546 hits

Despite high volume & short holding period, shares gain is STCG

 15 October 2011

The assessee is a marine consultant. He had carried on the business of trading in shares and had also made investments in shares. In the assessment year in question, the assessee had sold certain shares held as investments and gains arising on accoun..

Posted in Corporate Law |   2319 hits

As per Section 176 of Contract Act 1872 Pledgee can sale the pledge property only after giving valid notice to the pledgor.

 26 September 2011

The brief facts of the case are that on 12th July, 2010, Facility Agreement was entered into between defendant No.1 and defendant No.3 whereby defendant No.1 advanced a loan of Rs.250 crores against various securities to the defendant No.3. One of th..

Posted in Corporate Law |   4899 hits

Use of Trade Mark after termination of relationship is illegal

 20 July 2011

This is a suit for grant of permanent injunction, rendition of accounts, delivery up of the infringing material and damages. Plaintiff No. 1 is a company registered in Denmark whereas plaintiff No. 2 is a subsidiary of plaintiff No.1 and is registere..

Posted in Corporate Law |   2705 hits

Depreciation on Lease Transaction

 20 July 2011

This appeal under Section 260-A of the Income-tax Act, 1961 (hereinafter referred to as „the said Act‟) has been preferred by the revenue being aggrieved by the judgment and / or order dated 22.02.2008 passed by the Income-tax Appellate Tribunal in r..

Posted in Corporate Law |   2705 hits

Non compliance of order make imposed dismissal

 18 July 2011

The brief facts of the case are that the petitioner was working as a Constable with CISF at its IPCL Unit, Baroda. He was sanctioned earned leave from 8th July-22nd July 1996. During the period of the leave, vide letter dated 17.7.1996 petitioner sou..

Posted in Corporate Law |   2873 hits

Sale is under challenge so money from sale can not be disbursed

 18 July 2011

The relevant facts appearing from the record and the submissions made during the course of hearing are that in some proceedings initiated by ICICI Bank before the DRT – III, Mumbai being (O.A. No. 162/2002) in the year 2002 for recovery of its money ..

Posted in Corporate Law |   2796 hits

No interest on Earnest Money

 16 July 2011

On 16.05.1988, the respondent was awarded with a contract for the work of Provision of Signaling Arrangements at “C” Class Stations on Igatpuri-Bhusawal Section and 2 “C” Stations on Bhusawal-Badnera Section of Bhusawal Division of Central Railway at..

Posted in Corporate Law |   2120 hits

Experience get preference

 13 July 2011

Writ Petition (Civil) No. 8210 of 2010 filed by the Food and Beverage Foundation Society and four other organizations seeks the setting aside of the selection of non-profit organizations („NPOs‟)/non-governmental organizations („NGOs‟) by the Governm..

Posted in Corporate Law |   2306 hits

Limitation of Companies Act in case of mismanagement

 11 July 2011

Sections 397 & 398 of the Companies Act, 1956 [hereinafter referred to as the Act] was filed before the Calcutta High Court on grounds of oppression and mismanagement. The learned Company Judge held that the Petitioners grievance in regard to ouster ..

Posted in Corporate Law |   3155 hits

Application filed under rule 6 and 9 of the companies rule 1959 is rejected by HC

 06 July 2011

Company Applications No. 578-579/2011 have been filed by the Department of Telecommunication (in short ‘DOT’) under Rules 6 and 9 of the Companies (Court) Rules, 1959 for recall and stay of this Court’s order dated 5th February, 2010 by virtue of whi..

Posted in Corporate Law |   3877 hits

Petition filed u/s 433(a)/439 of Comp.Act,1956 dismissed for unjustified ground for VoluntaryWinding

 06 July 2011

Mr. Beri submits that the petitioner-company has not done any business since 2001-2002 and thus, it has not earned any income for the last ten years. He states there is no hope or prospect of the petitioner-company doing any further business as state..

Posted in Corporate Law |   3387 hits

Section 9 of the Arbitration and Conciliation Act, 1996

 16 May 2011

Whether the Delhi High Court could entertain the petition filed by the respondents under Section 9 of the Arbitration and Conciliation Act, 1996 (for short, “the Act”) for grant of a declaration that Kuala Lumpur (Malaysia) is contractual and juridic..

Posted in Corporate Law |   6220 hits

Section 34 of Arbitration & Conciliation Act, 1996

 06 May 2011

District court had dismissed the petition filed by respondents filed under section 34 of Arbitration & Conciliation Act, 1996 and affirmed the Award passed by the Arbitrator dated 5.9.2001, with clerical corrections made on 22.9.2001). ..

Posted in Corporate Law |   5675 hits

Section 11(6) of the Arbitration and Conciliation Act, 1996

 30 April 2011

This appeal, by special leave, arises from the order dated December 8, 2006 passed by the Chief Justice of the Punjab and Haryana High Court in the proceedings under Section 11(6) of the Arbitration and Conciliation Act, 1996 (for short, `1996 Act') ..

Posted in Corporate Law |   5028 hits