Tags : Discussion Paper, Governance, Commercial Banks
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Enforcement action in respect of statutory auditors of commercial banks(03.06.2019)
RBI vide its Press Release dated June 29, 2018 had put in place an enforcement action framework in respect of statutory auditors for the lapses in the.....
Tags : Statutory auditors, Commercial banks, Enforcement action
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Kerala HC: Order of Commercial Court u/s 9 of Arbitration & Conciliation Act Appealable(25.11.2020)
Kerala High Court has held that an order under Section 9 of the Arbitration and Conciliation Act, 1996 passed by a Commercial Court below the level of.....
Tags : Kerala High Court, Order of Commercial Court
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Delhi HC: Refusal of Defendant to Settle Dispute Satisfies Requirement of Pre-Litigation Mediation(01.09.2022)
Delhi High Court has held that when the plaintiff makes an offer to the defendant to amicably settle the dispute and the defendant refuses the offer t.....
Tags : Delhi High Court, Pre-Litigation Mediation, Commercial Courts Act
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Delhi HC: Affidavit for Admission/Denial of Documents in Commercial Suits Must Filed Within 45 Days(01.11.2019)
Delhi High Court has held that the maximum period for filing reapplication or affidavit for admission/denial of documents in commercial suit is 45 day.....
Tags : Delhi High Court, Commercial Suits
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SC: Purchaser is a Consumer if Commercial Use by him was for Earning Livelihood by Self Employment(08.09.2023)
Supreme Court has held that when if the commercial use of a particular goods is by the purchasers themselves for the purpose of earning their liveliho.....
Tags : Supreme Court, Commercial Use, Purchaser, Livelihood, Self Employment
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Uttarakhand HC to State: Formulate the Tourism Development Plan(11.09.2023)
Uttarakhand High Court while observing that the policy of the State, in practice, appears to be only to commercialise the hills, without any emphasis .....
Tags : Uttarakhand High Court, Tourism Development Plan, Hills, Commercialise
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SEBI Issues Framework for Listing of Commercial Paper(23.10.2019)
Securities and Exchange Board of India has come out with a framework for listing of commercial papers on stock exchanges in order to broaden investor .....
Tags : SEBI, Commercial Paper
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CESTAT: Contract of Supply of Goods Not Classifiable Under Commercial or Industrial Construction(16.08.2022)
Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Kolkata bench has held that the contract of supply of goods can’t be classifiable under ‘.....
Tags : CESTAT, Service Tax, Commercial Construction
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Ker. HC: Residential Building Rented Out for Residential Purpose is Not Commercial Building(02.08.2022)
Kerala High Court has held that a residential building which has been rented out for residential purposes cannot be treated as a commercial building u.....
Tags : Kerala High Court, Residential Building, Commercial Building
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Delhi HC Directs Registry to List All Commercial Appeals Before Commercial Appellate Division(29.01.2021)
Delhi High Court has directed its Registry to list all commercial appeals from district Court orders before the Commercial Appellate Division Benches......
Tags : Delhi High Court, Listing of Commercial Appeals
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Delhi HC Directs TRAI to Strictly Enforce Curbs Against Unsolicited Commercial Communications(04.02.2021)
Delhi High Court has disposed of a petition by Paytm's holding company One97 Communications Ltd against phishing attacks on various mobile networks, d.....
Tags : Delhi High Court, Curbs Against Unsolicited Commercial Communications
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SC Orders Removal of Business Activities in 500 Meter Radius of Taj Mahal(27.09.2022)
Supreme Court has issued a direction to the Agra Development Authority to immediately halt all commercial activities which come within the radius of 5.....
Tags : Supreme Court, Taj Mahal, Commercial Activities
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Delhi High Court: Scope of Interference with International Commercial Arbitration is Limited(20.01.2020)
Delhi High Court has dismissed a German manufacturer's claim for damages against Bharat Heavy Electricals Limited, India. The Court observed that the .....
Tags : Delhi High Court, International Commercial Arbitration
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SC: Mandatory Time Line for Filing Written Statement is Not Applicable to Non-Commercial Suits(21.01.2020)
Supreme Court has clarified that the mandatory time-line for filing written statement does not apply to non-commercial suits. The Court held that as r.....
Tags : Supreme Court, Timeline for Non- Commercial Suit
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COMMERCIAL - 120 Days Deadline to File Written Statement in Commercial Suits is Mandatory: SC(19.02.2019)
Supreme Court has observed that proviso added to Code of Civil Procedure by Commercial Appellate Division of High Courts Act, 2015, is mandatory and n.....
Tags : Supreme Court, Commercial Courts, Written Statement
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COMMERCIAL - Deadline of 120 Days to File Written Statement in Commercial Suits is Mandatory: SC(19.02.2019)
Supreme Court has observed that proviso added to Code of Civil Procedure by Commercial Appellate Division of High Courts Act, 2015, is mandatory and n.....
Tags : Supreme Court, Commercial Courts, Written Statement
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SEBI Penalises NDTV Over Non-disclosure of Loan Terms(30.12.2020)
Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs. 5 Crores on New Delhi Television Ltd (NDTV) for not disclosing information .....
Tags : Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs. 5 Crores on New Delhi Television Ltd (NDTV) for not disclosing information on loan agreements with Vishvapradhan Commercial (VCPL) to public shareholders.
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Madras HC: Education Not Commercial Activity, Collection of Capitation Fee for Admission Illegal(01.11.2022)
Madras High Court while deprecating practice of receiving capitation fee for admissions, has held that education can never be a commercial activity an.....
Tags : Madras High Court, Capitation Fees, Commercial Activity
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Delhi HC to Transfer Commercial Suits Valued at or Below Rs.2 Crores to District Courts(31.01.2019)
Delhi High Court has issued a circular to transfer all commercial suits valued at or below Rs. 2 crores pending before it to respective District Court.....
Tags : Delhi High Court, Commercial Suits
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SICC Sets Aside SIAC Award in Case of Gokul Patnaik v Nine Rivers Capital Ltd(16.12.2020)
Singapore International Commercial Court (SICC) has dismissed an application to introduce new evidence on foreign law and to set aside Singapore Inter.....
Tags : Singapore International Commercial Court, Gokul Patnaik v Nine Rivers Capital Ltd
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Ker. HC: Commercial Courts Act Does Not Provide For Second Appeals(12.01.2024)
Kerala High Court has held that the legislature introduced a non-obstante clause in sub-section (2) of S. 13 of the Commercial Courts Act limiting the.....
Tags : Kerala High Court, Second Appeals, Commercial Courts
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Writ Maintainable Against Interlocutory Orders of Commercial Courts: Gujarat HC(18.06.2018)
Gujarat High Court has ruled that writ petitions under Article 227 of the Constitution of India can be entertained by High Court against interlocutory.....
Tags : Gujarat High Court, Commercial Courts
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SC Issues Notice on Plea Against NGT Order Stopping Commercial Activities at Nahargarh Fort, Jaipur(02.12.2021)
Supreme Court has issued notice in the appeal filed by the Secretary Department Of Archaeology And Museums. State of Rajasthan challenging National Gr.....
Tags : Supreme Court, Stopping Commercial Activities at Nahargarh Fort, Jaipur
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TRAI notifies Tariff Amendment Orders relating to commercial subscribers(08.09.2015)
The Telecom Regulatory Authority of India notified tariff amendment orders relating to television services for commercial subscribers. Under the order.....
Tags : Trai, amendment order, commercial subscribers
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RBI seeks feedback on Draft Framework on External Commercial Borrowings(23.09.2015)
The Reserve Bank of India introduced the draft framework on External Commercial Borrowings for comments and feedback. The same may be sent by e-mail o.....
Tags : Rbi, external, commercial, borrowings
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Revised framework for External Commercial Borrowing policy(30.11.2015)
The Reserve of Bank of India issued a revised External Commercial Borrowing policy. The revisions aim to reduce risk for lenders and make extended ter.....
Tags : External commercial borrowing, revised, 2015
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Budget 2024-25 Introduces Enhanced Deductions and Revised Tax Slabs(23.07.2024)
What is Income Tax?
Income tax is a government levy on the income earned by individuals and businesses during a financial year. "Income" enc.....
Tags : Income Tax Return, Commercial Properties, Securities Transaction Tax
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Mansa Court Restrains Salim-Sulaiman from Releasing Sidhu Moosewala's Song 'Jaandi Vaar'(22.11.2022)
Commercial Court, Mansa has restrained the record label Merchant Records Private Limited and its directors Salim Merchant and Sulaiman Merchant from r.....
Tags : Commercial Court, Moosewala, Copyright
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Bom HC: No Appeal Under Commercial Court Act Against Court Order Refusing to Return/Reject a Plaint(20.12.2023)
Bombay High Court has held that the Trial Court’s order refusing to return or reject a plaint is not appealable under the Commercial Courts Act, 2015,.....
Tags : Bombay High Court, Commercial Courts Act, Appeal
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Commercial Court, Bengaluru Confirms Ex-Parte Temporary Injunction Against ACC Steel(18.01.2022)
Commercial Court, Bengaluru has confirmed the ex-parte temporary injunction issued in 2020 restraining ACC Steel Pvt. Ltd., from using the marks ACC, .....
Tags : Commercial Court, Bengaluru, Temporary Injunction Against ACC Steel
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Cal. HC: Suit for Eviction from Property for Running Business Lies Before Commercial Division(14.11.2022)
Calcutta High Court while transferring an eviction suit before its non-commercial Division to its Commercial Division has held that only operative con.....
Tags : Calcutta High Court, Eviction, Commercial
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All. HC: Commercial Tax Tribunal’s Order Upheld, Court Condones 1365 Days Delay on Sufficient Cause(29.01.2024)
Allahabad High Court while upholding the condonation of delay of 1365 days by the Commercial Tax Tribunal in filing of appeal has held that it is the .....
Tags : Allahabad High Court, Commercial Tax Tribunal, Condonation of Delay
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Govt. Notifies Ordinance To Widen Pecuniary Jurisdiction Of ‘Commercial Courts’(07.05.2018)
Government has notified an ordinance to amend the Commercial Courts, Commercial Division and the Commercial Appellate Division in High Courts Act of 2.....
Tags : Ordinance, commercial courts
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Govt. Notifies Ordinance To Widen Pecuniary Jurisdiction Of ‘Commercial Courts’(07.05.2018)
Government has notified an ordinance to amend the Commercial Courts, Commercial Division and the Commercial Appellate Division in High Courts Act of 2.....
Tags : Ordinance, commercial courts
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Kerala HC: Occurrence of Commercial Difficulty to Perform Contract Not Excuse to Back Out(07.02.2022)
Kerala High Court has recently ruled that the occurrence of a commercial difficulty or hardship to perform a contract is not an excuse to back out fro.....
Tags : Kerala High Court, Occurrence of Commercial Difficulty
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Cal HC: High Court Lacks Jurisd. When Application u/s 9A of A&C Act Filed Before Commercial Court(26.02.2024)
Calcutta High Court has held that if an application under Section 9A of Arbitration and Conciliation Act, 1996 (A&C Act) has been filed before a comme.....
Tags : Calcutta High Court, Section 9A of A&C Act, Jurisdiction, Commercial Court
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Del. HC: Diff. in Financial Position of Donor And Recipient Doesn’t Establish Commercial Element(13.12.2022)
Delhi High Court has held that in cases of organ transplant from a near relative, the difference in financial position of the donor and the recipient,.....
Tags : Delhi High Court, Organ Transplant, Commercial
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Delhi HC Nominates Distt Judges, Addl Distt Judges As Commercial Courts(11.07.2018)
Delhi High Court has nominated all the district judges/additional district judges of respective districts as Commercial Courts, as an interim measure .....
Tags : Delhi High Court, Commercial Courts
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AP HC: Bail Under Section 37 NDPS Act Not Applicable to Non-Commercial Quantity Contraband(16.02.2022)
Andhra Pradesh High Court has granted regular bail to an accused under Narcotics Drugs and Psychotropic Substances Act, 1985, noting that the rigours .....
Tags : Andhra Pradesh High Court, Non-Commercial Quantity Contraband
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Bom. HC: Banks to Show Evidence to Borrowers Before Invoking Circular on Wilful Default(27.03.2024)
Bombay High Court has held that commercial banks need to show the evidence to defaulting borrowers before invoking the master circular on wilful defau.....
Tags : Bombay High Court, Wilful Default, Commercial Banks
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President Promulgates Constitution of Commercial Courts , Arbitration and Conciliation Ordinanences(26.10.2015)
President has signed ordinances to amend Arbitration and Conciliation Act and bring into force Commercial Courts, Commercial Division and Commercial A.....
Tags : Arbitration and Conciliation Act, Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015
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SC: Quantity of Neutral Substance Not to be Excluded in Determination of Commercial Quantities(17.02.2022)
Supreme Court has observed that the quantity of the neutral substance is not to be excluded and to be taken into consideration along with the actual c.....
Tags : Supreme Court, Determination of Commercial Quantities
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AP HC: Commercial Court Has Jurisdiction Over Suit Property Used for Trade/ Commerce(22.02.2022)
Andhra Pradesh High Court has transferred a suit from a Civil Court to the Commercial Court as the subject property in the suit was exclusively used f.....
Tags : Andhra Pradesh High Court, Commercial Court
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Karnataka HC: Challenge to Award in International Commercial Arbitration Can be Made Before HC(25.02.2022)
Karnataka High Court has ordered that in view of Section 2(e)(ii) of the Arbitration and Conciliation Act, 1996 a challenge to an award in an Internat.....
Tags : Karnataka High Court, Challenge to Award, International Commercial Arbitration
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Bombay HC Upholds Order Allowing Bondholders to Vote on Resolution of RCFL(23.03.2022)
Bombay High Court has upheld the single-judge bench order in October allowing bondholders to vote on the debt resolution of Reliance Commercial Financ.....
Tags : Bombay High Court, Reliance Commercial Finance
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SC: Onus on Service Provider to Prove That Service Was Availed for Commercial Purpose(13.05.2024)
Supreme Court has observed that a service provider cannot dispute the maintainability of a consumer complaint unless the service provider proves that .....
Tags : Supreme Court, Commercial Purpose, Service Provider
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Lok Sabha Passes Bill for Fast Disposal of Commercial Disputes(02.08.2018)
Lok Sabha has passed Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amendment) Bill that seeks to bring down.....
Tags : Lok Sabha, Commercial Disputes
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Kerala HC: District Court Has Jurisdiction to Execute Arbitral Award(10.03.2023)
Kerala High Court while evaluating the scheme of Commercial Courts Act, 2015 has held that District Court has the jurisdiction to execute an arbitral .....
Tags : Kerala High Court, Commercial Courts Act, Arbitral Award
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Del HC: Can’t Infer Commercialization of Education Merely Because School Maintain Surplus(16.03.2023)
Delhi High Court while observing that private schools are dependent on the fees collected by them from the students, has held that merely because scho.....
Tags : Delhi High Court, Commercialization, Education, Surplus
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SC: Can’t Deny Permanent Status to Workmen Who Worked Without Interruption for 480 Days in 24 Months(22.05.2024)
SC has held that if workmen have worked without interruption for more than 480 days in 24 months in a commercial establishment engaged in activities o.....
Tags : Supreme Court, Permanent Status, Commercial Establishment
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RBI Orders Concurrent Auditors to Submit Reports on Non-Performing Loans Directly to Banks(25.09.2015)
Reserve Bank of India (RBI) has directed concurrent auditors of commercial banks to submit their review of non-performing loans directly to the banks .....
Tags : Reserve Bank of India,concurrent auditors of commercial banks
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Bombay HC: Running Clinics is not a Commercial Activity(25.10.2016)
Bombay High Court has held that a clinic run of a private doctor or their partnership firm can't come under the definition of 'commercial establishmen.....
Tags : Bombay HC, Clinics, private doctor, Commercial Activity
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Karnataka HC: Foreign Arbitral Award Enforceable if Property Within Territorial Jurisdiction(04.04.2022)
Karnataka High Court has held that an international commercial arbitral award rendered between parties that have no link with India can be enforced by.....
Tags : Karnataka High Court, international commercial, arbitral award, territorial jurisdiction
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Hyderabad High Court Serves Notice to Union Minister YS Chowdary(03.11.2015)
Hyderabad High Court has issued notice to Union Minister YS Chowdary and others in a contempt petition filed by the Mauritius Commercial Bank.
Tags : Hyderabad High Court, Union Minister YS Chowdary , Mauritius Commercial Bank
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RBI Issues Gold Bonds Operational Guidelines(05.11.2015)
Reserve Bank has issued operational guidelines for Sovereign Gold Bonds, 2015-16 and mandated some operational procedures for Commercial banks and pos.....
Tags : Reserve Bank of India, Commercial banks , post offices, Gold Bonds Operational Guidelines
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Orissa HC: Court for Deciding Applications Arising Out of Arbitration Agreement is Commercial Court(15.04.2022)
Orissa High Court has observed that the Court for the purpose of deciding all the applications arising out of the arbitration agreement between the pa.....
Tags : Orissa High Court, Court for Deciding Arbitration Applications, Commercial Court
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SC: Consumer Disputes Can be Raised for Goods/Services Not Connected to Profit Generation(18.04.2023)
Supreme Court while observing that commercial enterprises are not excluded from definition of ‘Consumer’ under Consumer Protection Act, has held that .....
Tags : Supreme Court, Consumer Disputes, Commercial Enterprises, Profit Generation
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Apex Court to Commercial Courts: Don’t Hear all High Value Pleas(11.10.2019)
Apex Court has cautioned the Commercial Courts from entertaining all the pleas, involving high value, coming before it as it is fraught with the conse.....
Tags : Apex Court, Commercial Courts
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SC Stays Prohibition Order by NGT on Socio-Cultural and Commercial Use of Delhi Parks(03.08.2021)
Supreme Court has stayed the National Green Tribunal order prohibiting the use of parks in Delhi for social, cultural, commercial and other functions .....
Tags : Supreme Court, Socio-Cultural and Commercial Use of Delhi Parks
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SC Expresses Dissatisfaction At Allahabad HC Report on Pendency of Commercial Cases(25.05.2022)
Supreme Court has directed the UP State Government to consider the proposal made by the Allahabad High Court to create additional commercial courts in.....
Tags : Supreme Court, High Court, Uttar Pradesh, Commercial Cases
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SC: Principle of Commercial Wisdom Doesn’t Validate CoC’s Decision Taken in Contravention of Law(08.05.2023)
Supreme Court has held that the principle of Commercial wisdom cannot be used to validate the decision of Committee of Creditors (CoC) which was taken.....
Tags : Supreme Court, Commercial Wisdom, Committee of Creditors
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SC: Existence of Commercial Relations Not Necessary for Imposing Condition to Grant Leave to Defend(16.07.2019)
Supreme Court has noted that existence of commercial relations between the parties in a summary suit by itself is not mandatory for imposing condition.....
Tags : SC, Commercial Relations
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Kerala High Court Invokes Doctrine of Desuetude to Permit Construction of Commercial Building(25.06.2021)
Kerala High Court has approved the construction of a commercial building on a site reserved for residential buildings as per the Town Planning Scheme .....
Tags : Kerala High Court, Construction of Commercial Building, Doctrine of Desuetude
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SC Refuses PIL Seeking Scrapping of TRAI's New Directives on Commercial SMS & Calls(29.09.2020)
Supreme Court has refused to hear a Public Interest Litigation challenging Telecom Regulatory Authority's (TRAI) latest directive on commercial SMSes .....
Tags : Supreme Court, Commercial SMS and Calls
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ITAT: Depreciation Not Allowable for Expenditure Availed on Professional or Legal Services(04.07.2022)
Income Tax Appellate Tribunal (ITAT), Bangalore Bench has held that depreciation is not allowable for expenditure availed on professional or legal ser.....
Tags : ITAT, Professional/Legal Services, Commercial Right
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Del. HC: Transfer Pricing Officer Doesn’t Have Jurisdiction to Question Commercial Expediency(15.07.2024)
Delhi High Court has observed that the authority of the Transfer Pricing Officer can only be extended to evaluating the enlistment of comparables or a.....
Tags : Delhi High Court, Commercial Expediency, Transfer Pricing Officer
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Del. HC: Loans and Advances by NOIDA are Not Commercial Activities, Hence Eligible for Exemption(15.07.2024)
Delhi High Court has held that loans and advances extended by the New Okhla Industrial Development Authority (NOIDA) do not come within the ambit of c.....
Tags : Delhi High Court, NOIDA, Commercial Activity
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Cal. HC: Applications Related to ICA Can be Entertained by Single Judge of Commercial Division(22.07.2024)
Calcutta High Court has held that Single Judge of the Commercial Division has the jurisdiction to entertain original applications that are related to .....
Tags : Calcutta High Court, Commercial Division, ICA
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Bombay HC: Mid-day Meal Scheme Should Not be Commercialized(08.12.2016)
Bombay High Court has said that mid-day meal scheme for school children, if implemented properly, is good, but its commercialization would not serve i.....
Tags : Bombay High Court, mid-day meal, commercialization
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Madras HC: Genuineness of Consignment Can’t be Suspected Because Invoice Contains Wrong Address(01.11.2017)
Madras High Court, while releasing the goods detained by Commercial department, has held that genuineness of a consignment cannot be suspected merely .....
Tags : Madras High Court, commercial invoice
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Cal. HC: High Court’s Commercial Division Can Hear Appeals Under A&C Act Filed on Original Side(22.08.2024)
Cal. HC has held that language used in S. 10(2) of Commercial Courts Act, 2015 is “shall”, which is mandatory and implies that even if an application .....
Tags : Calcutta High Court, Commercial Division, Commercial Courts Act
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ITAT, Delhi Upholds Order Against Gandhi Family on Commercial Immovable Property(06.04.2022)
Income Tax Appellate Tribunal, Delhi has upheld the case against the Gandhi family in relation with commercial immovable properties worth more than Rs.....
Tags : Income Tax Appellate Tribunal, Gandhi family, commercial immovable properties, Rs 800 crore, Young Indian, share capital of Rs 5 lakh, hawala entry, Rs 1 crore
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ITAT, Mumbai: Depreciation Allowable on Marketing Information and Non-Compete Fee(11.04.2022)
Income Tax Appellate Tribunal, Mumbai has observed that the depreciation is allowable on intangible assets such as marketing information comprising of.....
Tags : Income Tax Appellate Tribunal, depreciation, intangible, marketing information, Commercial information, Customer data, Distribution network, Suppliers contract, Non-compete fees
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Delhi HC: Comparative Advertising is Protected Under Article 19(1)(a) of Constitution(19.05.2023)
Delhi High Court while observing that comparative advertising is protected under Article 19(1)(a) of Constitution as commercial speech, has held that .....
Tags : Delhi High Court, Comparative Advertising, Commercial Speech, Article 19(1)(a)
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SC: Dominant Intention to be Looked Into to Decide Whether Transaction Was Commercial(27.08.2024)
Supreme Court has stated that it is the dominant intention of the transaction that is to be looked into to find out if it had any nexus with some kind.....
Tags : Supreme Court, Dominant Intention, Commercial Activities
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Karnataka HC Observes that High Courts Require Commercial Division for International Arbitration(02.06.2022)
Karnataka High Court has held that for High Courts which do not exercise Original Civil Jurisdiction, Commercial Division comprising of a Single Judge.....
Tags : Karnataka High Court, International Arbitration, Commercial Division
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