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Showing 1 to 20 of 1205 Records

  • 2017 (11) TMI 443 - SUPREME COURT OF INDIA

    Securities & Exchange Board of India Versus Subrata Roy Sahara

    Action process - Held that - The respondent-contemnor could not have entered into correspondence with the Superintendent of Police when this Court had directed for auction of Aamby Valley. - As submitted by Mr. Datar that as a consequence of the communication, the police has taken custody of the property. If it is so, we direct the Director General of Police, Maharashtra, to see to it that the property is handed over to the Official Liquidator wi....... + More

  • 2017 (10) TMI 149 - SUPREME COURT OF INDIA

    Dushyant N. Dalal And Another Versus Securities And Exchange Board of India

    Interest recovered on orders of penalty issued - Section 28A of the Securities and Exchange Board of India Act, 1992 - whether interest can be recovered on orders of penalty issued under the Act and/or orders of disgorgement of unlawful gains, when the said amounts have remained unpaid? - Held that - The Interest Act of 1978 would enable Tribunals such as the SAT to award interest from the date on which the cause of action arose till the date of ....... + More

  • 2017 (10) TMI 148 - SUPREME COURT OF INDIA

    S.E.B.I. Versus Sahara India Real Estate Corporation Ltd. & Ors.

    Auction procedures - auction of Sahara Aamby Valley City - Held that - Held that - We are of the convinced opinion that grant of further time to the respondent-contemnor and entertaining post-dated cheques which are dated 11th November, 2017, would tantamount to travesty of justice and extending unwarranted sympathy to a person who is indubitably an abuser of the process of law. He, who thinks or for that matter harbours the notion that he can pl....... + More

  • 2017 (9) TMI 1566 - SUPREME COURT OF INDIA

    M/s. Surendra Trading Company Versus M/s. Juggilal Kamlapat Jute Mills Company Limited And Others

    Time limit for initiation of insolvency resolution process - Insolvency & Bankruptcy Code, 2016 - Application for initiation of corporate insolvency resolution process by operational creditor - whether time of fourteen days given to the adjudicating authority for ascertaining the existence of default and admitting or rejecting the application is mandatory or directory? - Held that - After analysing the provision of fourteen days time within w....... + More

  • 2017 (9) TMI 1270 - SUPREME COURT OF INDIA

    Mobilox Innovations Private Limited Versus Kirusa Software Private Limited

    Corporate insolvency procedure - Insolvency and Bankruptcy Code, 2016 - Held that - Going by the test of existence of a dispute , it is clear that without going into the merits of the dispute, the appellant has raised a plausible contention requiring further investigation which is not a patently feeble legal argument or an assertion of facts unsupported by evidence. The defense is not spurious, mere bluster, plainly frivolous or vexatious. A disp....... + More

  • 2017 (9) TMI 1269 - SUPREME COURT OF INDIA

    Securities And Exchange Board of India Versus Shri Kanaiyalal Baldevbhai Patel, Securities And Exchange Board of India Versus Shri Dipak Patel, Securities And Exchange Board of India Versus Sujit Karkera And Ors., Pooja Menghani Versus Securities And Exchange Board of India And Vibha Sharma And Anr. Versus Securities And Exchange Board of India

    Legality of non-intermediary front running in security market under the SECURITIES AND EXCHANGE BOARD OF INDIA (PROHIBITION OF FRAUDULENT AND UNFAIR TRADE PRACTICES RELATING TO SECURITIES MARKET) REGULATIONS, 2003 FUTP 2003 - Held that - To attract the rigor of Regulations 3 and 4 of the 2003 Regulations, mens rea is not an indispensable requirement and the correct test is one of preponderance of probabilities. Merely because the operation of the....... + More

  • 2017 (9) TMI 58 - SUPREME COURT OF INDIA

    M/s. Innoventive Industries Ltd. Versus ICICI Bank & Anr.

    Insolvency and Bankruptcy Code, 2016 - its applicability when in conflict with state act - whether State statute prevailing over Parliamentary legislation - restructuring of the corporate debtor - Held that - the earlier State law is repugnant to the later Parliamentary enactment as under the said State law, the State Government may take over the management of the relief undertaking, after which a temporary moratorium in much the same manner as t....... + More

  • 2017 (8) TMI 1318 - SUPREME COURT


    Corporate insolvency procedure - Insolvency & Bankruptcy Code, 2016 - eligible debt existence - Held that - . We do not find any reason to interfere with the order passed by the National Company Law Appellate Tribunal, New Delhi. 2017 (9) TMI 1130 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, MUMBAI wherein held the Corporate Debtor had a liability and obligation in respect of claim of respondent which includes the Financial Debt , including tho....... + More

  • 2017 (8) TMI 1200 - SUPREME COURT OF INDIA

    K. Ravinder Reddy Versus Alliance Business School

    Breach of principles of natural justice - non-observance of Principles of Natural Justice - whether CLB did not give any opportunity to make submissions to the appellant on the main company petition? - Held that - No reason to interfere with the impugned order passed by the High Court of Karnataka at Bangalore 2016 (8) TMI 826 - KARNATAKA HIGH COURT as held until the party approaches before the Civil Court, appropriate interim order could have be....... + More

  • 2017 (8) TMI 869 - SUPREME COURT OF INDIA

    Securities and Exchange Board of India Versus Classic Credit Ltd.

    Offences punishable under SEBI - jurisdiction transferred for trial to a Special Court - whether trial would move to the changed forum (to the Court of Session, after the 2002 Amendment Act and, to the Special Court, after the 2014 Amendment Act )? - Held that - It is not reasonable to read anything further into the words highlighted by learned senior counsel. The 2014 Amendment Act expressly provided, that for all offences committed even prior t....... + More

  • 2017 (8) TMI 540 - SUPREME COURT OF INDIA

    Securities & Exchange Board of India Versus Anandkumar Baldevbhai Patel

    Penalty imposed by SAT - Held that - In the appeal(s) filed by the aggrieved person(s) against the order(s) of the Adjudicating Officer, the learned Appellate Tribunal was expected to record its own independent findings and arrive at its own conclusions for holding the respondent liable for the penalty imposed. It seems that the learned Appellate Tribunal has proceeded on the basis that the case of the respondent is same and similar to the case o....... + More

  • 2017 (8) TMI 49 - SUPREME COURT OF INDIA

    Sahara Asset Management Co. Pvt. Ltd. Versus Securities & Exchange Board of India, Mumbai

    Proper status of a Promoter/Director of Sahara Sponsor who holds about 80 of its capital and who controls all Sahara Group Companies - Held that - In the instant case SEBI itself found that two group companies of Sahara and its Directors were not conducting their business following the rules relating to public issue and were restrained from associating themselves with any listed Company or Company which intends to raise money from the public. It ....... + More

  • 2017 (8) TMI 48 - SUPREME COURT OF INDIA

    D.B. Negandhi Versus Registrar of Companies

    Petition filed u/s 482 of Criminal Procedure Code - complaint filed by ROC against the Directors for failure to lay before the Company in Annual General Meeting held the balance sheet and profit and loss account for the period required under sub-sections (1) and (3) of Section 210 - Held that - The resignation of the appellant was accepted on 16.06.1997 in the meeting of Board of Directors of the Company, and the Registrar of Companies was inform....... + More


    Securities and Exchange Board of India Versus Sahara India Real Estate Corpn. Limited

    Auction notice - proclamation for the auction of Ambey Vally - Held that - It is directed that the respondent-contemnor shall deposit ₹ 1500 crores (Rupees fifteen hundred crores only) which would include the balance amount of today by 7.9.2017. After due consideration, we have granted time till 7.9.2017, though Mr. Sibal, with all humility at his command, prayed for fixing the date some time in October, 2017. Though we appreciate the humbl....... + More

  • 2017 (7) TMI 748 - SUPREME COURT OF INDIA

    Laurel Energetics Pvt. Ltd. Versus Securities And Exchange Board of India

    Interpretation of Regulation 10 of the SEBI Takeover Regulations of 2011 - upliftment of corporate veil - Held that - For the purpose of the present case, the Target Company, therefore, means a company whose shares are listed on a Stock Exchange. This would mean, on the facts of the present case, the Rattan Company, whose shares are listed on the two Stock Exchanges as mentioned above. Coming back to Regulation 10, it is thus clear that persons n....... + More

  • 2017 (7) TMI 180 - SUPREME COURT OF INDIA

    Securities and Exchange Board of India Versus Sahara India Real Estate Corporation Ltd.

    Auction of properties of Saharas - permitting the sale of Grosvenor House Hotel - Held that - In the interlocutory application relates to grant of permission for sale of Grosvenor House Hotel, i.e. by transfer of shares of the company to the buyer i.e. GH Equity U.K. Limited. Mr. Arvind P. Datar, learned senior counsel appearing for the S.E.B.I. has no objection if such permission is granted. The permission is, accordingly, granted. - Permit Saha....... + More

  • 2017 (5) TMI 542 - SUPREME COURT OF INDIA

    Excel Crop Care Limited Versus Competition Commission of India And Another

    Validity of anti-competitive agreement - offending the provisions of Section 3(3) of the Competition Act, 2002 - penalty imposed by COMPAT - CCI jurisdiction to hold enquiry - Held that - Merely because the purported agreement between the appellants was entered into and bids submitted before May 20, 2009 are no yardstick to put an end to the matter. No doubt, after the agreement, first sting was inflicted on May 8, 2009 when the bids were submitt....... + More

  • 2017 (5) TMI 23 - SUPREME COURT OF INDIA


    Reserved price for the purpose of auction - Held that - Regard being had to the submissions of the official liquidator and the affidavit that has been filed by the contemnor, we direct that the reserved price for the purpose of auction be fixed at ₹ 37,392 Crores. The Official Liquidator shall proceed in accordance with the Rules of procedure and prepare a draft terms and conditions and sale notice and the same shall be filed for our approv....... + More

  • 2017 (4) TMI 932 - SUPREME COURT OF INDIA


    Auction notice - deposit with SEBI Sahara Refund Account not been done - Held that - As no amount has been deposited by the contemnor, we are inclined to go ahead with auction for the Aamby Valley City near Lonavala, Maharashtra. It is submitted by Mr. Shekhar Naphade, learned Amicus Curiae assisting the Court in the matter that the Official Liquidator of the Bombay High Court may be appointed to conduct the sale. Mr. Arvind P. Datar, learned sen....... + More

  • 2017 (3) TMI 1062 - SUPREME COURT OF INDIA

    M/s. Brakewel Automotive Components (India) Pvt. Ltd. Versus P.R. Selvam Alagappan

    Rejecting the prayer of the appellant/plaintiff/decree-holder to eschew evidence of the respondent/defendant/judgment-debtor in a proceeding under Section 47 of the Code of Civil Procedure, 1908 as well as to dismiss such application as not maintainable - Held that - Having regard to the contextual facts and the objections raised by the respondent, we are of the unhesitant opinion that no case has been made out to entertain the remonstrances agai....... + More

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