"11 September 2022" Archive

MCA crackdown on Chinese shell companies in India

MCA crackdown on Chinese shell companies in India SFIO arrests mastermind & chief plotter After the  simultaneous search and seizure operations conducted by the Ministry of Corporate Affairs on 8th Sept. 2022, on the offices of Jillian Consultants India Private Ltd, a wholly owned subsidiary of Jilian Hong Kong Ltd., at Gurgaon, Fin...

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Posted Under: Company Law |

NHAI is Best Judge to Decide Suitable land For Highway Construction: HC

Shyam Singh Vs State of U.P (Allahabad High Court)

HC held that National Highway Authority is the best judge to decide which land would be suitable for the construction of the Highways....

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No section 271(1)(c) penalty on additions deleted by ITAT

Jasuben Chhanabhai Ahir Vs ITO (ITAT Surat)

Where additions have been deleted by  Tribunal in quantum proceedings, penalty under section 271(1c) levied by AO not sustainable...

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Consider value of returned goods for Determining Value for Refund – SC – Section 173L – Central Excise Act

Peacock Industries Ltd. Vs Union of India And Ors. (Supreme Court of India)

For considering value for refund under Section 173­L of Central Excise Act, what is required to be considered is value of returned goods...

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CESTAT allows Cenvat Credit on Group Mediclaim Policy

Diamond Beverages Private Limited Vs Commissioner of CGST & CX (CESTAT Kolkata)

CESTAT held that Cenvat credit of Service Tax paid on the insurance premium on the insurance policies taken for the employees of the Appellant which is covered under the Employees State Insurance Act. 1948 as well as the Factories Act, 1948 are eligible for Cenvat credit as per Rule 2(l) of the Cenvat credit Rules, 2004....

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Liquidator Empowered to Decide Mode of Sale: NCLT

Sauria Corporation Vs Kohinoor Pulp & Paper Private Limited (NCLT Kolkata)

NCLT held that it is the Liquidator who has to take call on what mode of sale is in the best in the interest of maximization of value of assets....

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Posted Under: Company Law | |

NCLT can call any information/evidence under Rule 43: NCLAT

Trident Fabricators Pvt. Ltd. Vs Hiranmayee Energy Ltd. (NCLAT Delhi)

Adjudicating Authority under Rule 43 of NCLT Rules, 2016, can call for any information or evidence as it may consider necessary in its discretion...

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Posted Under: Company Law | |

Post-Conviction Compounding of Cheque Bounce Offences Permissible

Kantu Ram Vs Beer Singh (Himachal Pradesh High Court)

Court, while exercising power under Section 147 of Negotiable Instruments Act, can proceed to compound offence even after recording of conviction by courts below....

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Joint petition not maintainable for different cheque bounce issues

Naseer Ahmad Sheikh Vs Mohammad Sultan Bhat (Jammu & Kashmir High Court)

Petitioner filed instant petition under Section 482 of Cr. P. C challenging four complaints filed by respondent against him alleging commission of offences under Section 138 of Negotiable Instruments Act. These four complaints pertain to four different cheques....

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Arbitrator has discretion to grant post-award interest: SC

Morgan Securities And Credits Pvt. Ltd. Vs Videocon Industries Ltd. (Supreme Court)

Arbitrator has discretion to grant post-award interest. Section 37(1)(b) does not fetter discretion of arbitrator to grant post-award interest...

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September 2022