![[MPID Act, S. 2(c) & 2(d)] – Amounts advanced with promise of return and interest qualify as “deposit” accepted by “financial establishment” under the Act. – Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 Section 2(c) and Section 2(d) — Deposit and Financial Establishment — Amounts advanced to individuals with promise of repayment with interest constitute a “deposit” under Section 2(c) and the recipients are “financial establishments” under Section 2(d) of the MPID Act, irrespective of the transaction being termed as a “loan” — The nomenclature of the transaction is not determinative; the essential attributes of the transaction are key.](https://i0.wp.com/sclaw.in/wp-content/uploads/2017/04/State-Laws.jpg?resize=150%2C150&ssl=1)
![[Central Sales Tax Act, 1956, S. 3] – No State can levy VAT on inter-State sales; taxation power for inter-State trade vests exclusively with the Union. – Constitution of India, 1950 — Article 269 — Taxes on sale or purchase of goods in the course of inter-State trade or commerce — Levied and collected by Union but assigned to States — Parliament’s power to formulate principles for determining when such sale/purchase takes place — State legislature’s power restricted to intra-State sales.](https://i0.wp.com/sclaw.in/wp-content/uploads/2017/04/Constitution-of-India.jpg?resize=150%2C150&ssl=1)
Death Penalty – It is also a fact that in all cases where imposition of capital punishment is a choice of sentence, aggravating circumstances would always be on record, and would be part of the prosecution’s evidence, leading to conviction, whereas the accused can scarcely be expected to place mitigating circumstances on the record, for the reason that the stage for doing so is after conviction. Accused is at disadvantage. Matter referred to larger bench for clarity
SUPREME COURT OF INDIA FULL BENCH IN RE: FRAMING GUIDELINES REGARDING POTENTIAL MITIGATING CIRCUMSTANCES TO BE CONSIDERED WHILE IMPOSING DEATH SENTENCES — Appellant Vs. ( Before : Uday Umesh Lalit,…
Arbitration and Conciliation Act, 1996 – Section 36(3) – While considering an application for grant of stay in the case of an arbitral award for payment of money, due regard has to be given to the provisions for grant of stay of a money decree under the provisions of the CPC.
SUPREME COURT OF INDIA DIVISON BENCH MRS. ETHEL LOURDES D’SOUZA LOBO — Appellant Vs. LUCIO NEVILLE JUDE DE SOUZA AND OTHERS — Respondent ( Before : S. Ravindra Bhat and…
The jurisdiction of this Court under Section 9 is wide. A party may apply to a Court for interim measures before the commencement of Arbitral proceedings, during Arbitral proceedings or at any time after the making of the Arbitral Award, but before it is enforced in accordance with Section 36 of the Arbitration Act.
SUPREME COURT OF INDIA DIVISON BENCH SEPCO ELECTRIC POWER CONSTRUCTION CORPORATION — Appellant Vs. POWER MECH PROJECTS LTD. — Respondent ( Before : Indira Banerjee and Krishna Murari, JJ. )…
It is settled that the majority decision of a Bench of larger strength would prevail over the decision of a Bench of lesser strength, irrespective of the number of Judges constituting the majority.
SUPREME COURT OF INDIA FULL BENCH M/S TRIMURTHI FRAGRANCES (P) LTD. THROUGH ITS DIRECTOR SHRI PRADEEP KUMAR AGRAWAL — Appellant Vs. GOVERNMENT OF N.C.T. OF DELHI THROUGH ITS PRINCIPAL SECRETARY…
Murder – Acquittal – Circumstantial evidence – circumstantial evidence in order to sustain conviction must be complete and incapable of explanation of any other hypothesis than that of the guilt of the accused and such evidence should not only be consistent with the guilt of the accused but should be inconsistent with his innocence
SUPREME COURT OF INDIA DIVISON BENCH RAJU @ RAJENDRA PRASAD — Appellant Vs. STATE OF RAJASTHAN — Respondent ( Before : M.R. Shah and Krishna Murari, JJ. ) Criminal Appeal…
HELD – Death in accident – If 25% of Rs. 3,000/- per month is considered towards future prospects and rise in income and thereafter loss of dependency is determined, it can be said to be just compensation
SUPREME COURT OF INDIA DIVISON BENCH SUMATHY AND OTHERS — Appellant Vs. BABU AND ANOTHER — Respondent ( Before : M.R. Shah and Krishna Murari, JJ. ) Civil Appeal Nos.…
Uttar Pradesh Trade Tax Act, 1948 – Section 34 – Transfer to defraud revenue void – At the time of transfer of immoveable property of the assessee which was for value/consideration, no proceedings under the Act were pending, Section 34 of the Act shall not be applicable.
SUPREME COURT OF INDIA DIVISON BENCH THE COMMISSIONER, TRADE TAX, U.P. — Appellant Vs. M/S RADICO KHETAN LTD. — Respondent ( Before : M.R. Shah and Krishna Murari, JJ. )…
Denial of pension is a continuing wrong – HELD settled law that when financial rules framed by the Government such as Pension Rules are capable of more interpretations than one, one favouring employee be taken.
SUPREME COURT OF INDIA DIVISON BENCH STATE OF RAJASTHAN AND OTHERS — Appellant Vs. O.P. GUPTA — Respondent ( Before : Indira Banerjee and J.K. Maheshwari, JJ. ) Special Leave…
IBC, 2016 Ss 7 & 9 – Limitation – HELD It would be absurd to hold that the CIRP could be initiated by filing an application under Section 7 or Section 9 of the IBC, within three years from the date on which an application under those provisions of the IBC could have first been made before the NCLT even though the right to sue may have accrued decades ago.
SUPREME COURT OF INDIA DIVISON BENCH M/S TECH SHARP ENGINEERS PVT. LTD. — Appellant Vs. SANGHVI MOVERS LIMITED — Respondent ( Before : Indira Banerjee and J.K. Maheshwari, JJ. )…
SEBI Act, 1992 Sections 2 (ha), 15 Z – HELD would be that the sale by the respondent, of the shares held by him in company would not fall within the mischief of insider trading, as it was somewhat similar to a distress sale, made before the information could have a positive impact on the price of the shares, the appeal is dismissed.
SUPREME COURT OF INDIA DIVISON BENCH SECURITIES AND EXCHANGE BOARD OF INDIA — Appellant Vs. ABHIJIT RAJAN — Respondent ( Before : Indira Banerjee and V. Ramasubramanian, JJ. ) Civil…