Mahindra and Mahindra Financial Services Ltd. Vs State of U.P. (Supreme Court) As per Section 2(h) of the Act,1997 read with Section 2(30) of the Act, 1988, even a person in possession of the vehicle under the hire-purchase agreement or an agreement of sell or an agreement of hypothecation can also be said to be […]
Supreme Court disallows tax benefits to pharmaceutical company gifting freebies to doctors. Impact on public policy and professional conduct discussed. Full judgment
Prakash Corporates Vs Dee Vee Projects Limited (Supreme Court of India) Leave granted. 2. By way of this appeal, the appellant has challenged the order dated 09.07.2021, as passed by the High Court of Chhattisgarh at Bilaspur in WP No. 312 of 2021, whereby the High Court has upheld the order dated 22.06.2021, as passed […]
United Bank of India Vs. Bachan Prasad Lall (Supreme Court) The nature of allegation against the respondent employee was of fraudulently preparing nine credit transfer vouchers on various dates on the pretext of payment of interest towards fixed deposits and crediting the whole amount to one saving account opened in the name of one Smt. […]
SC issued notice to the government, in a matter challenging the power of Additional Director General, Directorate of Revenue Intelligence, (ADG, DRI) as a proper officer under the Customs Act, 1962.
In the present case, the appellant clearly sought an operational service from the Proprietary Concern when it contracted with them for the supply of light fittings. Further, when the contract was terminated but the Proprietary Concern nonetheless encashed the cheque for advance payment, it gave rise to an operational debt in favor of the appellant, which now remains unpaid. Hence, the appellant is an operational creditor under Section 5(20) of the IBC.
State of Manipur & Ors. Vs Surjakumar Okram & Ors. (Supreme Court of India) Facts- The main contention in the appeal is that the declaration of the Assam Act, 2004 as unconstitutional does not per se render the 2012 Act invalid. It was argued that Bimolangshu Roy was wrongly decided and should be held to be […]
State of Kerala & Ors. Vs Laxmi Vasanth (Supreme Court of India) The Supreme Court observed that Sub-Section (5) of Section 30 of the Partnership Act shall not be applicable to a minor partner who was not a partner at the time of his attaining the majority. Sub-Section (5) of Section 30 of the Partnership […]
Indusind Bank Limited Vs Simarjit Singh (Supreme Court of India) In July 2006, the respondent-complainant, Simarjit Singh had availed a loan of Rs. 13,50,000/- from the appellant, IndusInd Bank Limited for financing a truck. The loan was repayable in equal monthly instalments of Rs. 35,150/-. The respondent committed default in payment of three instalments due […]
The finding overlooks that no one would like to avail services of a stranger or an agent if the work, that is, transfer of KVP certificates, could be otherwise handled and done with ease. Further, no one would like to lose money to a stranger. Necessarily, we would accept that the appellants had remained in touch with Rukhsana but were given the impression that the exercise is complex and would take time. Further they had belief that the post office would take care of their interest, act in good faith and would not be negligent.
