Category: Corporate

Perusal of clause 17 of the 1992 deed would reveal that the partners have right to expel an erring partner/partners on the grounds specified therein. The 1995 Deed does not have any conflicting provision. The clauses in the 1992 Deed, which are not superseded by the 1995 Deed, would still continue to operate. The trial court has given sound reasons, while upholding the expulsion of the plaintiffs. We see no reason to interfere with the same, the appeal is partly allowed.

SUPREME COURT OF INDIA FULL BENCH V. ANANTHA RAJU AND ANOTHER — Appellant Vs. T.M. NARASIMHAN AND OTHERS — Respondent ( Before : L. Nageswara Rao, Sanjiv Khanna and B.R.…

Petroleum and Natural Gas Regulatory Board Act, 2006 – Sections 16 and 17 – Deemed authorization -it is held that entities which had received authorization from States, had to seek authorization under the PNGRB Act, in terms of Section 17(2), and in compliance with the conditions spelt out under the CGD Regulations – Role of the State in granting NOC is only supportive or collaborative, in terms of the Central Government’s policy, of 2006, and cannot confer any advantage to any entity, which has to seek and be granted specific authorization in terms of the PNGRB Act on the merits of its application.

SUPREME COURT OF INDIA FULL BENCH ADANI GAS LIMITED — Appellant Vs. UNION OF INDIA AND OTHERS — Respondent ( Before : Uday Umesh Lalit, S. Ravindra Bhat and Hrishikesh…

Copyright Rules, 2013 – Rule 29(4) – An exercise of judicial re-drafting of Rule 29(4) was unwarranted, particularly at the interlocutory stage – High Court was also of the view that the second proviso may be resorted to as a matter of routine, instead of as an exception and that the ex post facto reporting should be enlarged to a period of fifteen days (instead of a period of twenty four hours). Such an exercise was impermissible since it would substitute a statutory rule made in exercise of the power of delegated legislation with a new regime and provision which the High Court considers more practicable

SUPREME COURT OF INDIA DIVISION BENCH SAREGAMA INDIA LIMITED — Appellant Vs. NEXT RADIO LIMITED AND OTHERS — Respondent ( Before : Dr. Dhananjaya Y. Chandrachud and BV Nagarathna, JJ.…

Coal Mines (Special Provisions) Act, 2015 – Section 11 – Discharge or adoption of third party contracts with prior allottees – Successful allottee or bidder has complete freedom to decide as to whether he desires to continue or adopt any such existing contracts in relation to coal mining operation – If the successful bidder or allottee elects not to adopt or continue with the existing contracts, all such contracts shall cease to be enforceable against the successful bidder or allottee in relation to Schedule I coal mines.

SUPREME COURT OF INDIA FULL BENCH PUNJAB STATE POWER CORPORATION LIMITED AND ANOTHER — Appellant Vs. EMTA COAL LIMITED — Respondent ( Before : L. Nageswara Rao, B.R. Gavai and…

Refund of unutilised input tax credit – Refund is a statutory right and the extension of the benefit of refund only to the unutilised credit that accumulates on account of the rate of tax on input goods being higher than the rate of tax on output supplies by excluding unutilised input tax credit that accumulated on account of input services is a valid classification and a valid exercise of legislative power.

SUPREME COURT OF INDIA DIVISION BENCH UNION OF INDIA AND OTHERS — Appellant Vs. VKC FOOTSTEPS INDIA PRIVATE LIMTED — Respondent ( Before : Dr. Dhananjaya Y. Chandrachud and MR…

Royalty – Benefit or privilege – Expression ‘Royalty’ has consistently been construed to be compensation paid for rights and privileges enjoyed by the grantee and normally has its genesis in the agreement entered into between the grantor and the grantee-Controlled release of water made available to INDSIL and CUMI, has always gone a long way in helping them in generation of electricity – For such benefit or privilege conferred upon them, the Agreements arrived at between the parties contemplated payment of charges for such conferral of advantage – Such charges were perfectly justified.

SUPREME COURT OF INDIA DIVISION BENCH M/S. INDSIL HYDRO POWER AND MANGANESE LIMITED — Appellant Vs. STATE OF KERALA AND OTHERS — Respondent ( Before : Uday Umesh Lalit and…

Tender – Supply of E-learning Kits to 22 Zilla Parishad Schools in Maharashtra – Upgradation of software and training could not be performed – Recovery proceedings – Challenged – Appellant shall undertake the upgrading of software as agreed under the contract and also impart training to the teachers

SUPREME COURT OF INDIA DIVISION BENCH MULTITASK SOLUTIONS — Appellant Vs. ZILLA PARISHAD WASHIM AND OTHERS — Respondent ( Before : Hemant Gupta and A.S. Bopanna, JJ. ) Civil Appeal…

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