Devarajan Raman Vs Bank of India Limited (Supreme Court of India) The Insolvency and Bankruptcy Board of India has issued a circular on 12 June 2018. The circular, inter alia, requires the insolvency professional to ensure that the fees payable to him during the CIRP are reasonable and the approval of the CoC for the […]
Arjab Jena@ Arjab Kumar Jena Vs. Utsa Jena @ Pattnaik (Supreme Court of India) We disapprove the observations made in the impugned order which refer to the comments made during the course of the mediation or settlement proceedings. The High Court should not have taken the aforesaid comments on record, as the same would impede […]
Export Oriented Unit (EOU) is not entitled to claim refund of Terminal Excise Duty (TED) on its own, however, adds a caveat that EOU may avail of the entitlements of Domestic Tariff Area (DTA) supplier specified in Chapter 8 of Foreign Trade Policy (FTP) on condition that it will not pass on that benefit back to DTA supplier later on.
Rajasthan Marudhara Gramin Bank (RMGB) and Anr. Vs Ramesh Chandra Meena & Anr. (Supreme Court of India) Facts- While working as Branch Manager, it was alleged that he committed irregularities while granting loans to farmers/ villagers under loan scheme. He didn’t take adequate precautions and without writing mandates of borrowers, he transferred the loan amount in […]
We are not inclined to entertain the petitions under Article 32 of the Constitution in the first instance before this Court. The petitioners have an alternate and efficacious remedy of moving the concerned High Courts under Article 226 of the Constitution.
It is one thing to say that Section 45 of the PMLA Act to offences under the ordinary law would not get attracted but once the prayer for anticipatory bail is made in connection with offence under the PMLA Act, the underlying principles and rigors of Section 45 of the PMLA Act must get triggered — although the application is under Section 438 of Code of Criminal Procedure.
Kerala State Beverages Manufacturing & Marketing Corporation Ltd. Vs ACIT (Supreme Court of India) So far as surcharge on sales tax is concerned, the High Court has held in favour of KSBC and against the revenue. The reasoning of the High Court is that surcharge on sales tax is a tax and Section 40(a) (iib) does not contemplate ‘tax’ and surcharge […]
Small Industries Development Bank Of India Vs. SIBCO Investment Pvt. Ltd. (Supreme Court) RBI has wide supervisory powers over financial institutions like SIDBI, in furtherance of which, any direction issued by the RBI, deriving power from the RBI Act or the Banking Regulation Act is statutorily binding on the defendant. Admittedly, the RBI issued Notification […]
Maharashtra State Road Transport Corporation Vs Dilip Uttam Jayabhay (Supreme Court of India) Therefore, the short question which is posed for the consideration of this Court is whether in the facts and circumstances of the case the punishment of dismissal can be said to be an unfair labour practice on the ground that the same […]
Employees who have refused the offer of regular promotion were disentitled to the financial upgradation benefits envisaged under the O.M. dated 9.8.1999. However, the above rule would not apply to employees who were not offered regular promotion but conditional promotion on officiating basis and subject to reversion.
