Articles

Arbitral award need not be written on stamp paper by the Arbitrator

This has reference to the observations of hon™ble Single Judge bench of Delhi HC in Eider PW1 Paging Limited and Eider PW1 Communications Ltd. Vs. Union of India and Ors. {2010 (115) DRJ 263- Delhi HC}, which has been referred to a larger bench of Delhi HC. However, with highest respect to hon™ble Single Judge bench… Read More

Whether legal heirs of a former employee are liable to be prosecuted under section 630 of the Companies Act, 1956 ?

Wrongful withholding of company property is an offence and the wrong doer can be proceeded against under section 630 of the Companies Act. Whether this section can be pressed into service even against the legal heirs of past employee is the crucial question examined in the light of recent judicial elucidations.   Introduction 1.         The… Read More

Writ Petition will be not be maintainable against the award of RBI Ombudsman

Recently, in Kanaiyalal Lalchand Sachdev & Ors. Vs. State of Maharashtra & Ors. {(2011) 2 SCC 782; decided on 07.02.2011} hon™ble Supreme Court has observed as follows (in para 21): 21. In our opinion, therefore, the High Court rightly dismissed the petition on the ground that an efficacious remedy was available to the appellants under… Read More

Directions issued by Supreme Court in exercise of its power under Article 142 of the Constitution do not constitute a binding precedent

In State of U.P. Vs Neeraj Awasthi & Others {2005 (5) Suppl.SCR 906 , 2006 (1) SCC 667 , 2005 (10) SCALE 286 , 2006(1) JT19; Date of Judgment: 16/12/2005} hon™ble Supreme Court has observed as follows. In All Manipur Regular Posts Vacancies Substitute Teachers' Association v. State of Manipur [1991 Supp (2) SCC 643],… Read More

If Exoneration in Adjudication Proceeding on Merits, Criminal Prosecution on Same Set of Facts Can Not be Allowed to Continue

Recently, a three judge bench of hon™ble Supreme Court in Radheshyam Kejriwal  Vs State of West Bengal & Anr. {(2011) 3 SCC 581; Decided on 18.02.2011} held as follows (per majority) (SCC para 37, 38 and 39).   19¦¦¦¦¦. There may appear to be some conflict between the views in the case of Standard Chartered… Read More

Judicial Discipline High time to Evolve the Concept of Judicial Accountability

By Narendra Sharma, Consultant (Legal)   Introduction Recently in Commissioner of Income-tax Vs. General Insurance Corporation (2007)19 CLA-BL Supp 85 (SC) (decided on 25 September, 2006) (hereinafter referred to as ˜CIT Vs. GIC™) the Hon™ble Supreme Court has held that expenditure incurred by the company on account of stamp duty and registration fee for the … Read More

Withdrawal of Withdrawal Application Permissible SC

By Narendra Sharma, Consultant (Legal)   Recently, hon™ble Supreme Court in RAJENDRA PRASAD GUPTA V. PRAKASH CHANDRA MISHRA & ORS. {(2011) 2 SCC 705 = 2011 (1) SCALE 469; Civil Appeal No(s). 984 of 2006-Decided on 12-01-2011} has held as follows.   2. ¦¦¦¦.Rules of procedure are handmaids of justice. Section 151 of the Code… Read More

Beg to Differ SC Judgment in Sita Ram Gupta Vs Punjab National Bank and Ors

By Narendra Sharma, Consultant (Legal) 1. Introduction Recently, a 2 judge bench of hon™ble Supreme Court in Sita Ram Gupta Vs. Punjab National Bank and Ors {(2008) 5 SCC 711, Appeal (civil) 1878 of 2008, Date of judgment: 10/03/2008} held as follows (in para 8):   8¦¦¦¦we hold that in view of the nature of… Read More

Arbitration Clause in General Insurance Policies A Legal Gimmick to Avoid Liability

  Author: Narendra Sharma, Consultant (Legal) E-mail: nkdewas@yahoo.co.in   If parties to a contract have agreed to something unreasonable, they should be treated as if they have not agreed at all and be released. This happens in the case of general insurance contracts and is dealt with here in the light of a recent decision. Introduction… Read More

Structuring of Business Entities in India

Written By S.Dhanapal, B.Com,B.A.B.L,A.C.S Practising Company Secretary STRUCTURING OF BUSINESS ENTITIES IN INDIA SOLE PROPRIETORSHIP MEANING:- The sole proprietorship is the oldest, simplest, and most common form of business entity. It is a business owned by a single individual. For tax and legal liability purpose, the owner and the business are one and the same.… Read More

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