![[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)
A deeper consideration of whether an arbitration agreement exists between the parties must be left to an Arbitrator who is to examine the documentary evidence produced before him in detail after witnesses are cross-examined on the same – This Court set aside the impugned judgment of the Delhi High Court in so far as it conclusively finds that there is an Arbitration Agreement between the parties
SUPREME COURT OF INDIA FULL BENCH PRAVIN ELECTRICALS PRIVATE LIMITED — Appellant Vs. GALAXY INFRA AND ENGINEERING PRIVATE LIMITED — Respondent ( Before : R.F. Nariman, B.R. Gavai and Hrishikesh…
Termination of Power Purchase Agreement stayed by NCLT – Residuary jurisdiction of NCLT under Section 60(5)(c) of the IBC provides it a wide discretion to adjudicate questions of law or fact arising from or in relation to the insolvency resolution proceedings – If the jurisdiction of the NCLT were to be confined to actions prohibited by Section 14 of the IBC, there would have been no requirement for the legislature to enact Section 60(5)(c) of the IBC.
SUPREME COURT OF INDIA DIVISION BENCH GUJARAT URJA VIKAS NIGAM LIMITED — Appellant Vs. MR. AMIT GUPTA AND OTHERS — Respondent ( Before : Dr. Dhananjaya Y Chandrachud and M.…
Constitution of India, 1950 – Article 142 – COVID-19 – Almost all the Courts and Tribunals are functioning either physically or by virtual mode – In view of the changing scenario relating to the pandemic, the extension of limitation should come to an end – Directions issued.
SUPREME COURT OF INDIA FULL BENCH IN RE: COGNIZANCE FOR EXTENSION OF LIMITATION ( Before : S. A. Bobde, CJI., L. Nageswara Rao and S. Ravindra Bhat, JJ. ) Suo…
Multiple Complaints By The Same Party Against The Same Accused In Respect Of The Same Incident Impermissible
that any further complaint by the same complainant or others against the same accused, subsequent to the registration of a case, is prohibited under the Code because an investigation in…
Anticipatory Bail Once Granted Does Not Automatically End With Filing Of Chargesheet,
it is held that the life or duration of an anticipatory bail order does not end normally at the time and stage when the accused is summoned by the court,…
Person Who Has Not Drawn The Cheque Cannot Be Prosecuted U/s 138 NI Act Even In Case Of Joint Liability
“Therefore, a person who is the signatory to the cheque and the cheque is drawn by that person on an account maintained by him and the cheque has been issued…
Landlord and Tenant Relationship – Suit for possession – There is no evidence of taking premises on rent and it is admitted by defendant that he had not maintained any record of accounts of payment of rent, there is no base for holding that relationship of landlord and tenant is proved –
SUPREME COURT OF INDIA DIVISION BENCH MADAN MOHAN SINGH — Appellant Vs. VED PRAKASH ARYA — Respondent ( Before : Ashok Bhushan and R. Subhash Reddy, JJ. ) Civil Appeal…
Reservation of appointments – HELD that if the required number of candidates belonging to the community which fall under reservation are not available, then, the vacancies, for which selection could not be made in the current year, should be treated as backlog vacancies.
SUPREME COURT OF INDIA FULL BENCH THE STATE OF TAMIL NADU AND OTHERS — Appellant Vs. K. SHOBANA ETC. ETC. — Respondent ( Before : Sanjay Kishan Kaul, Dinesh Maheshwari…
A & C Act – S 2(1)(f) would show that whatever be the transaction between the parties, if it happens to be entered into between persons, at least one of whom is either a foreign national, or habitually resident in, any country other than India; or by a body corporate which is incorporated in any country other than India; or by the Government of a foreign country, the arbitration becomes an international commercial arbitration- This being the case, it is clear that the Delhi High Court had no jurisdiction to appoint an arbitrator
SUPREME COURT OF INDIA DIVISION BENCH AMWAY INDIA ENTERPRISES PRIVATE LIMITED — Appellant Vs. RAVINDRANATH RAO SINDHIA AND ANOTHER — Respondent ( Before : R.F. Nariman and B.R. Gavai, JJ.…
Reservation of seats in respect of OBCs – Reservation for OBCs must be proportionate in the context of nature and implications of backwardness and in any case, is permissible only to the extent it does not exceed the aggregate of 50 per cent of the total seats in the local bodies reserved for SCs/STs/OBCs taken together
SUPREME COURT OF INDIA FULL BENCH VIKAS KISHANRAO GAWALI — Appellant Vs. STATE OF MAHARASHTRA AND OTHERS — Respondent ( Before : A.M. Khanwilkar, Indu Malhotra and Ajay Rastogi, JJ.…