NCLT Disallows JSW To Withdraw From Status Of Successful Resolution Applicant Of Ind-Barath Energy

The National Company Law Tribunal, Hyderabad Bench, comprising of Bhaskara Pantula Mohan (Judicial Member) and Dr. Binod Kumar Sinha (Technical Member), while adjudicating an application filed in Bank of Baroda v Ind-Barath Energy (Utkal) Ltd., has held that under Section 31(1) of the Insolvency and Bankruptcy Code, 2016 ("IBC"), Adjudicating Authority is not empowered to terminate...

Bail Cannot Be Cancelled When Accused Wasn't Conditioned To Not Get Involved In Any Other Criminal Case: MP High Court

The Madhya Pradesh High Court, Indore Bench, recently rejected an application for cancellation of bail of a person on the ground that his bail order had not conditioned him to not get involved in any other criminal case. The Applicant had alleged that the accused person, who was enlarged on bail by the Court, was regularly indulging in criminal activities and that he was also...

SEBI Invites Comments Consultation Paper On Online Bond Trading Platforms

The Securities and Exchange Board of India (SEBI)has invited comments on online bond trading platforms' proposed regulatory framework by August 12, 2022.As per the paper, debt securities can be issued either through a public issuance or on a private placement basis. A public issue of debt securities is made through the online system of the Stock Exchanges and Depositories. Presently,...

Inland Haulage Charges Received By Shipping Companies Not Taxable As Business Profit: ITAT Mumbai

The Mumbai Bench of ITAT has reiterated that the activity of Inland Haulage is directly connected with the transportation of goods in international traffic and thus, Inland Haulage Charges are not taxable as business profit in India in view of Article 8 of the India-UAE DTAA (Double Taxation Avoidance Agreement). The Bench, consisting of Vikas Awasthy (Judicial Member) and...

"Happened In A Spur Of The Moment, No Intention To Kill": Tripura High Court Reduces Sentence For Attempt To Murder

The Tripura High Court recently reduced the sentence of a person convicted for the offence of attempt to murder punishable under Section 307 IPC on the ground that the incident happened in the spur of the moment and that the convict had no intention to kill the victim. The judgment was passed by a division bench of Justice Amarnath Goud and Justice Arindam Lodh: "Having considered...

Oral Dying Declaration Which Is Reliable & Not Controverted By Defence Is Admissible In Evidence: Gujarat High Court

In a significant decision, the Gujarat High Court has made it clear that a dying declaration cannot be said to be inadmissible merely because it was given orally. A single bench of Dr. Justice Ashokkumar Joshi observed that an "oral dying declaration" given by the deceased, which is not controverted by the defence in cross-examination, is admissible in evidence.Holding thus, the High...

No Approval Granted For K-Rail, All Steps Towards Land Acquisition Premature: Railway Board Informs Kerala High Court

In a statement filed on Monday, the Railway Board has informed the Kerala High Court that all steps taken in pursuance of land acquisition for K-Rail Silverline are premature since no approval has been granted for the project so far. Through the statement moved the ASG S. Manu, the Railway Board reiterated that it has neither approved nor concurred with the SIA and that the survey conducted...

AO To Workout Pro Rata Deduction In Regard To Eligible Residential Units: Bombay High Court

The Bombay High Court has upheld the order of the ITAT directing the Assessing Officer to work out the pro rata deduction under Section 80IB(10) of the Income Tax Act, 1961.The division bench of Justice Dhiraj Singh Thakur and Justice Abhay Ahuja has observed that Section 80IB(10) nowhere even remotely aims to deny the benefit of deduction in regard to a residential unit,...

Cash Sales Accepted By VAT Dept. Not Sufficient To Hold It To Be Genuine: Himachal Pradesh High Court

The Himachal Pradesh High Court has held that the cash sales accepted by the VAT department are not sufficient to hold that the cash sales were genuine. The division bench of Justice Sabina and Justice Satyen Vaidya has held that the Assessing Officer was liable to independently look into the cash sales to come to a conclusion as to whether the said sales were genuine or not....

Advocate General For Punjab Anmol Rattan Sidhu Resigns Citing Personal Reasons

Punjab's Advocate General Anmol Ratan Singh Sidhu has tendered his resignation. In a letter written to the Chief Minister of Punjab, Bhagwant Singh Mann, Mr. Sidhu cited personal reasons behind the decision to resign from the post.Sidhu was appointed the AG for Punjab in March this year. Sidhu has been Punjab And Haryana High Court Bar Association's president at least 5 times and he has...

Supreme Court Terms Promise Of Freebies By Political Parties A "Serious Issue"; Asks Centre Why It Hesitates To Take A Stand

The Supreme Court on Tuesday asked the Central Governemnt to take a stand on the need to control the announcement of freebies by political parties during election campaigns. The Court asked why the Centre is hesitating to take a stand on this issue. Terming it a "serious" issue, the Court also asked the Centre to consider whether the suggestions of the Finance Commission can be sought...

Una Flogging Case 2016: Gujarat HC Grants Bail To 4 Accused, Orders State To Make Appropriate Arrangements For Conclusion Of Trial

The Gujarat High Court yesterday granted regular bail to four key accused in the July 2016 Una Dalig Flogging case. This is the first time in the last six years that the court has granted bail to the accused in the case.The court observed that the accused have already served nearly six years of imprisonment, and there has been little progress in the trial of the case. The accused were allegedly...