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[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. Criminal Procedure Code, 1973 (CrPC) — Section 432 — Constitution of India, 1950 — Article 72 & 161— Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS) — Section 473 & 477 — Premature release of a prisoner — Rejection of recommendation — Non-speaking order — Order rejecting premature release must provide reasons and reflect due application of mind — Absence of reasons renders the order bald and impossible to ascertain if relevant factors were considered — Violates principles of natural justice and frustrates judicial review. [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. Civil Procedure Code, 1908 (CPC) — Order 15 Rule 5 — Striking off defence for non-deposit of rent — This is a drastic consequence and the power to strike off a defence is not to be exercised mechanically — The court must consider whether there has been substantial compliance and whether the default is wilful or contumacious. [ Landlord and Tenant — Eviction Suit — Pleading and Proof Satisfied — In this case, the plaint contained material facts of co-landlord status and eviction grounds — Evidence, including affidavits and documents like share certificates, was provided to support these pleaded facts, fulfilling both pleading and proof requirements.

PMLA – Search and seizure – If a statute provides for a thing to be done in a particular manner, then it has to be done in that manner and in no other manner – Authorised Officer is vested with sufficient power; such power is circumscribed by a procedure laid down under the statute – As such the power is to be exercised in that manner alone,

SUPREME COURT OF INDIA FULL BENCH OPTO CIRCUIT INDIA LIMITED — Appellant Vs. AXIS BANK AND OTHERS — Respondent ( Before : S.A. Bobde, CJI., A.S. Bopanna and V. Ramasubramanian,…

IBC – A person having only security interest over the assets of corporate debtor, even if falling within the description of ‘secured creditor’ by virtue of collateral security extended by the corporate debtor, would not be covered by the financial creditors as per definitions contained in sub-section (7) and (8) of Section 5.

SUPREME COURT OF INDIA FULL BENCH PHOENIX ARC PRIVATE LIMITED — Appellant Vs. KETULBHAI RAMUBHAI PATEL — Respondent ( Before : Ashok Bhushan, R. Subhash Reddy and M.R. Shah, JJ.…

Housing – Allotment of plot – Non-Participation of Allotment Process – Availability of the plot does not give any entitlement to a person who has no right to claim allotment – Any allotment has to be made in accordance with the procedure prescribed and the Rules of the Parishad

SUPREME COURT OF INDIA DIVISION BENCH U.P. HOUSING AND DEVELOPMENT BOARD AND ANOTHER — Appellant Vs. NAMIT SHARMA — Respondent ( Before : Ashok Bhushan and R. Subhash Reddy, JJ.…

Illegal gratification – presumption of innocence as would be there in the case of acquittal – High Court decision is based on totally erroneous view of law by ignoring the settled legal position – High Court in dealing/non – dealing with the evidence was patently illegal leading to grave miscarriage of justice – Matter deserves to be remanded

SUPREME COURT OF INDIA FULL BENCH STATE OF GUJARAT — Appellant Vs. BHALCHANDRA LAXMISHANKAR DAVE — Respondent ( Before : Ashok Bhushan, R. Subhash Reddy and M. R. Shah, JJ.…

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