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Bar Council of India v. A.K. Balaji It is clarified that Reserve Bank of India shall not grant any permission to the foreign law firms to open liaison offices in India under section 29 of the Foreign Exchange Regulation Act, 1973.
On a perusal of the impugned order dated 4-3-2009, however, it is found that although the respondents cited the judgment of the Court in Ghaziabad Development Authority v. Ved Prakash Aggarwal [2009] 91 SCL 281 (SC) and contended before the MRTP Commission that the MRTP Commission had no authority to order handing over of possession and that the jurisdiction was only with the civil court to order specific performance of the contract, the MRTP Commission has observed that this contention cannot be dealt with while passing the interim order and can only be decided at the time of final adjudication of the complaint. Hence, the Court is not called upon to decide the question as to whether the MRTP Commission has power to direct handing ove
Rule 2 (1) (b) provides the qualification to be a Member. Needless to say, the same is in total accord with the Act. The first proviso to Rule 5 introduces part time Member. We have held that the said proviso, as far as it introduces the concept of part time Member, is contrary to the provision contained in the enabling Act. Section 46 of the Act nowhere envisages about the part time Members.
Ordinarily, where executant himself is unable, for any reason, to execute the document, he would appoint his kith and kin as his power of attorney to complete the transaction on his behalf. If one does not have any kith or kin who he can appoint as power of attorney, he may execute the conveyance himself. The legislative idea behind Clause (d), Article 45 of Schedule 1-A is to curb tendency of transferring immovable properties through power of attorney and inappropriate documentation.
The guarantor of a loan is liable to pay it if the debtor fails to clear it, the Supreme Court has ruled, while maintaining that financial institutions too cannot act like property dealers in recovering the debts. The apex court gave the ruling on an appeal by one Ganga Kishun, who had stood as a guarantor to a bank loan, raised by one Ganga Prasad, who had died without clearing it. Ganga Kishun had come to the apex court against the Uttar Pradesh government’s decision to recover the loan arrears from him after the death of principal debtor Ganga Prasad.
Held – Where the minimum sentence is provided, we think it would not be at all appropriate to exercise jurisdiction under Article 142 of the Constitution of India to reduce the sentence on the ground of the so-called mitigating factors as that would tantamount to supplanting statutory mandate and further it would amount to ignoring the substantive statutory provision that prescribes minimum sentence for a criminal act relating to demand and acceptance of bribe.
CIT V/s. CARGIL GLOBAL TRADING I. P. LTD. Payment of ‘interest’ presupposes borrowing of money or incurring of debt. Discounting of Bill of Exchange does not involve borrowing of money or incurring of debt. The Bill of Exchange were acquired by the purchaser at a discounted price and there was no debt or obligation incurred by the Taxpayer in favor of the purchaser of the Bill of Exchange.
In the instant case, the power being sought to be attributed to the Copyright Board involves the grant of the final relief, which is the only relief contemplated under Section 31 of the Copyright Act. Even in matters under Order XXXIX Rules 1 and 2 and Section 151 of the Code of Civil Procedure, an interim relief granting the final relief should be given after exercise of great caution and in rare and exceptional cases. In the instant case, such a power is not even vested in the Copyright Board and hence the question of granting interim relief by grant of an interim compulsory licence cannot,
The Indian Stamp Act, 1899, nowhere prescribes any expiry date for use of a stamp paper. Section 54 merely provides that a person possessing a stamp paper for which he has no immediate use (which is not spoiled or rendered unfit or useless), can seek refund of the value thereof by surrendering such stamp paper to the Collector provided it was purchased within the period of six months next preceding the date on which it was so surrendered. The stipulation of the period of six months prescribed in Section 54 is only for the purpose of seeking refund of the value of the unused stamp paper, and not for use of the stamp paper. Section 54 does not require the person who has purchased a stamp paper, to use it within six months. Therefore, there is no impediment for a stamp paper purchased more than six months prior to the proposed date of execution, being used for a document.
The Supreme Court dismissed the appeal of M/s DSR Steel Ltd against the order of the Appellate Tribunal for Electricity allowing revising of tariff for industries and others under an incentive scheme. The Vidyut Vitran Nigam Ltd of Jaipur, Jodhpur and Ajmer had applied for revision of tariff from the Rajasthan Electricity Regulatory Commission. Objections of several industries and some hundred individuals were heard before allowing the revision. The industries argued that they had invested huge amounts on the promise of continuation of the incentive scheme prevailing then. The commission rejected the arguments and allowed revision of the tariff. The industries took the issue to the appellate tribunal in New Delhi, which rejected their arguments. Now the Supreme Court has also dismissed the appeal, stating that issues decided by the commission and the tribunal should not be reopened unless there is a substantial question of law involved.
