The court analysed whether the reason account blocked falls within the scope of Section 138 of the Negotiable Instruments Act. It held that the provision applies only when dishonour is linked to insufficient funds or lack of arrangement.
Supreme Court held that section 66 of the Companies Act, 2013 doesn’t require mandatory obtaining or circulating of formal valuation report from an approved/registered valuer for reduction of share capital.
Companies can hold delayed AGMs now and file pending AOC-4 and MGT-7 under the CCFSS Scheme, but the delay still amounts to default under Section 96 and may require compounding.
Income from transfer of cryptocurrencies, NFTs, and other virtual digital assets is taxed at a flat 30% rate under Indian tax law. The framework also restricts deductions and disallows set-off of losses.
The Court held that the Maintenance and Welfare of Parents and Senior Citizens Act, 2007 applies to maintenance claims against children or relatives, not disputes over property obstruction by neighbours.
The Court refused bail in a money laundering case after holding that the accused failed to satisfy the mandatory twin conditions under Section 45 of the Prevention of Money Laundering Act.
The court refused bail after noting allegations that employee provident funds were invested in a private financial institution in violation of statutory provisions and government guidelines.
The tribunal noted that the invoice was issued before the alleged execution date of the agreement, raising questions about the authenticity of the claim and leading to dismissal of the insolvency petition.
Official Liquidator Vs Kirloskar Institute (Karnataka High Court) The Karnataka High Court considered an appeal filed by the Official Liquidator of Mysore Kirloskar Ltd. (the company in liquidation) challenging the order dated 21.07.2015 passed by the Company Court in Company Application No.826/2011 in Company Petition No.166/2001. The Company Court had dismissed the application filed by […]
The High Court permitted the taxpayer to file an appeal despite delay after noting that the assessment order was served through deemed service on the common portal. The appeal must be filed with a 25% deposit of the disputed tax.
