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Emphasizing investor protection and market transparency, the Supreme Court ruled that the unlawful diversion of preferential issue proceeds could not be legitimized through subsequent shareholder ratification.
In the present case, Jubilant Generics alleged Jamp Pharma Canada of misusing its confidential pharmaceutical dossiers. Jubilant claims these were wrongly shared with Indian companies, leading to copyright and trade secret violations.
Section 60(4), Social Security Code, 2020 which entitled maternity benefit of 12 weeks to mothers who legally adopt a child below the age of 3 months, was held to be violative of the Constitution.
“The requirement that the recovery process be fair, transparent and based on a proper assessment of value must co-exist with the principle of finality governing confirmed sales.”
“The filing of a charge-sheet, taking of cognizance, or issuance of summons does not terminate protection unless special reasons are recorded.”
The Court “direct the Ministry of Education, Union of India to extend all necessary administrative support, more particularly the infrastructure & data access.”
The Court acknowledged the “extensive work undertaken by Ms. Nithya Rajshekhar with regard to the transgender rights” and found it appropriate that she continue as a member of the Advisory Committee notwithstanding her change in institutional affiliation.
“This is a long drawn legal battle between brother and sisters. Although in the past the parties did try to reach to an amicable settlement, yet we are informed that the settlement failed.”
“Every medical practitioner owes to his patient a duty to exercise a reasonable degree of care, skill, and knowledge expected of a prudent practitioner in the same field.”
“The Vigilance and Anti-Corruption Bureau (VACB) is also a wing of State Police. The offences under the PC Act are also cognizable and can, therefore, be investigated by the State Police or VACB.”
Business profits must be concrete and commercially realisable, not mere paper adjustments. In amalgamation, substitution of shares that yield realisable assets of definite value constitutes taxable income under Section 28 of Income Tax Act, 1961, guided by the doctrine of real income to tax genuine gains while avoiding illusory ones.
When interpreting a tariff heading involved in a classification dispute, the tribunal or court may need to invoke and rely on the common or trade parlance test to understand the meaning and scope of the terms used in that tariff heading.
“True equality at the workplace can be achieved only with the right impetus given to disability rights as a facet of Corporate Social Responsibility.”
Section 21 of Arbitration and Conciliation Act, 1996 is concerned only with determining the commencement of the dispute for the purpose of reckoning limitation. There is no mandatory prerequisite for issuance of a Section 21 notice prior to the commencement of arbitration.
“Tax extractions by Sovereign states across the globe is broadly in the nature of an income tax called as the direct tax which includes international taxation and corporate taxation and the indirect tax which is a tax on goods and services which is termed as GST in India and VAT by the European Union and a resale tax in USA.”
Legislature has defined “head office expenditure” in clear and unambiguous terms to mean executive and general administration expenditure incurred by the assessee outside India, including, inter alia, travelling expenses, salaries, and other administrative costs.
“A transferee pendente lite takes the property subject to the outcome of the proceedings, irrespective of notice or bona fides.”
If the referral court finds that a party is not a veritable party, the matter will not be left to the Arbitral Tribunal as it will relegate the referral court to the status of a monotonous automation.
BPL Ltd., having knowingly entered into the bill discounting agreement, was bound by its terms. Since it defaulted on repayment for years, the stipulated 36% compound interest could not be considered burdensome or oppressive.
Identity of the person making the purchase, or the value of the transaction, is not conclusive to determine whether the transaction or activity is for a commercial purpose. Dominant intention or purpose is required to be seen.