Category: Corporate

Depositories Act, 1996 – As per the 1996 Regulations, the pledgor/pawnor is not entitled to sell the pledged/pawned securities – the pawnor under the Contract Act and the common law has the right to redeem the pledged goods till ‘actual sale’ – Sale by the pawnee to self does not defeat the right of redemption of the pawnor – It may amount to conversion in law

SUPREME COURT OF INDIA DIVISON BENCH PTC INDIA FINANCIAL SERVICES LIMITED — Appellant Vs. VENKATESWARLU KARI AND ANOTHER — Respondent ( Before : M.R. Shah and Sanjiv Khanna, JJ. )…

Foreign Trade (Development and Regulation) Act, 1992 – Section 5 – Date of loading goods onto the vessel, which commenced one day prior to the effective date of the policy, is not as significant as the date on which the foreign buyer failed to pay for the goods exported, which was well within the coverage period of the Policy

SUPREME COURT OF INDIA FULL BENCH HARIS MARINE PRODUCTS — Appellant Vs. EXPORT CREDIT GUARANTEE CORPORATION (ECGC) LIMITED — Respondent ( Before : Uday Umesh Lalit, S. Ravindra Bhat, and…

Banking – Release of mutual funds – Securities need to be released in favour of the applicant – HELD the applicant shall now furnish bank guarantee for a sum of Rs.100 Crores and it shall further furnish a corporate guarantee to the extent of Rs.300 Crores. The bank guarantee earlier furnished by the applicant to the extent of Rs.344.07 Crores shall stand discharged on the applicant fulfilling the above condition to the satisfaction of the Trial Court concerned.

SUPREME COURT OF INDIA DIVISION BENCH SECURITIES AND EXCHANGE BOARD OF INDIA — Appellant Vs. IL AND FS SECURITIES SERVICES LTD. AND OTHERS — Respondent IN THE MATTER OF: DALMIA…

Securities and Exchange Board of India Act, 1992 – Section 15Z – Appeal to Supreme Court – – A question of law may arise when there is an erroneous construction of the legal provisions of the statute or the general principles of law. In such cases, the Supreme Court in exercise of its jurisdiction of Section 15Z may substitute its decision on any question of law that it considers appropriate.

SUPREME COURT OF INDIA DIVISION BENCH SECURITIES AND EXCHANGE BOARD OF INDIA — Appellant Vs. MEGA CORPORATION LIMITED — Respondent ( Before : L. Nageswara Rao and Pamidighantam Sri Narasimha,…

When the contract not entered under MSME and parties would not be governed by the MSME Act and the parties shall be governed by the laws of India applicable and/or prevailing at the time of execution of the contract – Small Medium Enterprises Facilitation Council would have no jurisdiction

SUPREME COURT OF INDIA DIVISION BENCH M/S. VAISHNO ENTERPRISES — Appellant Vs. HAMILTON MEDICAL AG AND ANOTHER — Respondent ( Before : M.R. Shah and B.V. Nagarathna, JJ. ) Civil…

When the auction bid of the respondent had been Rs. 1.935 crores for the assets under sale, the Company Court had fixed the value of immovable property therein at Rs. 1.4 crores; and the District Registrar was also satisfied with that valuation. Therefore, stamp duty was to be collected only on the said valuation i.e., Rs. 1.4 crores

SUPREME COURT OF INDIA DIVISION BENCH THE SUB REGISTRAR ERNAKULAM KOCHI 16 — Appellant Vs. K. SYED ALI KADAR PILLAI AND ANOTHER — Respondent ( Before : Dinesh Maheshwari and…

Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 – Regulation 9, 10, 11 and 12 – Whether an investigation report under Regulation 9 of the PFUTP Regulations must be disclosed to the person to whom a notice to show cause is issued – Held, Person has a right to disclosure of the material relevant to the proceedings initiated against him

SUPREME COURT OF INDIA DIVISION BENCH T. TAKANO — Appellant Vs. SECURITIES AND EXCHANGE BOARD OF INDIA AND ANOTHER — Respondent ( Before : Dr. Dhananjaya Y. Chandrachud and Sanjiv…

Cancellation of lease – A person who misleads the Development Authority in obtaining allotment of a plot is not entitled to any relief – HELD Cancellation of lease – A person who misleads the Development Authority in obtaining allotment of a plot is not entitled to any relief -Cancellation of lease – – Filing of a false affidavit disentitles the plaintiff for any equitable relief – any irregularity in the process of cancellation stands cured with Chief Executive Officer granting permission.

RAVINDRA KUMAR SINGHVI (DEAD) THR. LRS. — Respondent ( Before : Hemant Gupta and V. Ramasubramanian, JJ. ) Civil Appeal No. 382 of 2012 Decided on : 15-02-2022 Cancellation of…