Search Results for Tag : Asset
Statute
Lokpal and Lokayuktas (Amendment) Act, 2016(27.07.2016)
The Lokpal and Lokayuktas (Amendment) Bill, 2016 has received Presidential assent on 29th July, 2016 and has become Lokpal and Lokayuktas (Amendment).....
Tags : Public servants, Assets, Declaration, Time Limit
Lokpal and Lokayuktas (Amendment) Act, 2016(27.07.2016)
The Lokpal and Lokayuktas (Amendment) Bill, 2016 has received Presidential assent on 29th July, 2016 and has become Lokpal and Lokayuktas (Amendment).....
Tags : Public servants, Assets, Declaration, Time Limit
International Cases
Costs of winding up of a partnership are to be paid out of the partnership assets unless there are good reasons to the contrary(18.06.2020)
In present matter, On 11 March 2019 the Plaintiff, in his own capacity and in his capacity as executor of the deceased's estate, brought an applicatio.....
Tags : Winding up, Costs, Assets, Partnership
Where a Master admits a claim, it cannot subsequently alter the decision(18.10.2023)
Present appeal emanated from an order of the high court that, the Appellants were not entitled to contest the claims proved by the Eastern Cape Develo.....
Tags : Disposition, Assets, Claim
Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016(13.06.2016)
The Enforcement of Security Interest and Recovery of Debt Laws a.....Tags : sarfaesi, debt act, central registry, asset reconstruction
News
CCI Approves Pramerica's Acquisition of Deutsche MF Business(10.11.2015)
Competition Commission of India (CCI) has approved acquisition of Deutsche Bank's asset management business in India by global fund house Pramerica As.....
Tags : Competition Commission of India , Deutsche MF Business, Pramerica Asset Managers Pvt Ltd.
SC: No Loan to be termed NPA Till New Orders(04.09.2020)
Supreme Court has asked banks not to declare any loan account as non-performing asset (NPA) till it passed further orders on a bunch of Petitions ques.....
Tags : Supreme Court, Declaration of Non-Performing Assets
ITAT: Depreciation allowable on Toll Collection Rights(15.06.2022)
Income Tax Appellate Tribunal (ITAT), Pune Bench has held that the depreciation under Section 32 of the Income Tax Act, 1961 is allowable on toll coll.....
Tags : ITAT, Toll Collection, Capital Asset
CBDT Issues Guidelines on 1% TDS on Virtual Digital Assets from 1st July(23.06.2022)
Central Board of Direct Taxes (CBDT) has issued guidelines to levy one percent TDS on the virtual digital assets under Section 194S of the Income Tax .....
Tags : CBDT, Virtual Digital Assets, Income-Tax Act
CCI Permits Union Bank's 49% Stake Buy in Union KBC AMC(31.12.2015)
Central Information Commission (CIC)has approved Union Bank of India's proposed acquisition of 49 per cent stake in Union KBC Asset Management Company.....
Tags : Central Information Commission , Union KBC Asset Management Company
Mad HC Takes Suo Moto Revision Against Minister Ponmudi’s Acquittal in Disproportionate Assets Case(10.08.2023)
Madras High Court has Suo Moto taken up revision against the Trial Court verdict that acquitted Tamil Nadu Higher Education Minister K Ponmudi and his.....
Tags : Madras High Court, Suo Moto, Disproportionate Assets
Hyderabad High Court Rejects Plea Seeking Declaration of Jayalalithaa's Assets as Public Properties(21.12.2016)
Hyderabad High Court has dismissed a plea filed by a city-based organisation seeking declaration of late J Jayalalithaa's assets located in Telangana .....
Tags : Hyderabad High Court, Jayalalithaa's assets
Punjab and Haryana HC Refuses to Stay Langah's Conviction in DA Case(22.12.2016)
Punjab and Haryana High Court has refused to stay SAD senior leader Sucha Singh Langah's conviction in a disproportionate assets (DA) case.
Tags : Punjab and Haryana HC, Sucha Singh Langah, disproportionate assets
Supreme Court Seeks Action Plan on Recovery of Bad Loans(21.11.2016)
Supreme Court has said that disclosure of names of debtors, who owe Rs 500 crore or more to banks, will not lead "anywhere" as the important issue is .....
Tags : Supreme Court, Non-Performing Assets, disclosure, debtors
Supreme Court: Chief Judicial Magistrates Competent to Deal With Applications U/s 14 SARFAESI Act(24.09.2019)
In an important ruling, SC has held that a Chief Judicial Magistrate is equally competent to deal with the application moved by the secured creditor u.....
Tags : Supreme Court, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, Chief Judicial Magistrate
Delhi HC Issues Notice on Plea by Decree Holder Seeking Attachment of Assets of Judgment Debtor(25.08.2021)
Delhi High Court has issued notice on a plea by a decree holder (KLA Const. Technologies) seeking attachment of moveable and immovable assets of the j.....
Tags : Delhi High Court, Attachment of Assets of Judgment Debtor
Bom. HC: Writing Off Bad Debt Can’t be Considered as Asset u/s 153A(1) of IT Act(07.09.2023)
Bombay High Court has held that writing-off of a bad debt cannot fall within the ambit of “income, represented in the form of an asset” under Section .....
Tags : Bombay High Court, Bad Debt, Asset, Income-Tax Act
CCI Approves Reliance Capital-Goldman Sachs Deal(06.01.2016)
Competition Commission of India (CCI) has approved Reliance Capital Asset Management (RCAM) acquisition of Goldman Sachs' onshore asset management bu.....
Tags : Competition Commission of India, Reliance Capital Asset Management
SC: Time Limit Stipulation Mandating DM to Deliver Possession of Secured Asset Only Directory(06.11.2020)
Supreme Court has held that time limit stipulation in Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Secur.....
Tags : Supreme Court, Delivery of Possession of Secured Asset
Delhi HC: Charges Can be Framed Only on Material, Not on Speculation(09.08.2022)
Delhi High Court while quashing a trial court order that had framed charges against a chartered accountant in a disproportionate assets case, has held.....
Tags : Delhi High Court, Charges, Disproportionate Assets Case
Delhi HC Reserves Judgment over Virbhadra Singh in Disproportionate Assets Case(16.12.2016)
Delhi High Court has reserved its verdict on plea of Himachal Pradesh Chief Minister Virbhadra Singh and his wife Pratibha Singh, seeking quashing of .....
Tags : Delhi High Court, Virbhadra Singh, disproportionate assets
NCLAT Turns Down Reference Seeking Re-Consideration of Decision in V. Padamakumar Case(23.12.2020)
National Company Law Appellate Tribunal has turned down a reference made by a three-member Bench, seeking re-consideration of the decision in V. Padam.....
Tags : National Company Law Appellate Tribunal, V. Padamakumar v. Stressed Assets Stabilization Fund (SASF) & Anr.
Madras HC Directs TNSEC to Submit Assets Declarations of all Elected Councillors(01.12.2016)
Madras High Court has directed Tamil Nadu State Election Commission (TNSEC) to submit statements of declaration of assets made by all Elected Councill.....
Tags : Madras High Court, Tamil Nadu, Election Commission, Assets Declarations
Bombay HC Gives Government ‘Last Chance’ to File Report in Kripashankar Assets Case(10.01.2017)
Bombay High Court gave Government a last chance to submit a report on its probe into alleged disproportionate assets of former Mumbai Congress chief K.....
Tags : Bombay High Court, Kripashankar Singh, Mumbai Congress, disproportionate assets
Supreme Court Remarks “Socialism Missing From Religion”(08.03.2017)
Supreme Court, while expressing concern at threat of “musclemen” taking over charge of religious assets and properties, has said that “everywhere with.....
Tags : Supreme Court, religious assets
Bombay HC Restrains PMLA Adjudicating Authority from Passing Orders on Anil Deshmukh's Assets(07.12.2021)
Bombay High Court has restrained the Adjudicating Authority under the Prevention of Money Laundering Act from passing orders on the provisional attach.....
Tags : Bombay High Court, Anil Deshmukh's Assets
Bombay HC Allows Adjudicating Authority to Pass Order Regarding Attachment of Assets(10.12.2021)
Bombay High Court has allowed the Adjudicating Authority under Prevention of Money Laundering Act, 2002 to pass an order regarding attachment of asset.....
Tags : Bombay High Court, Attachment of Assets
Mad. HC Sentences TN Minister Ponmudi and his Wife Visalakshi in Disproportionate Asset Case(21.12.2023)
Madras High Court has sentenced Tamil Nadu Minister Ponmudi and his wife Visalakshi to 3 years simple imprisonment in a disproportionate asset case, a.....
Tags : Madras High Court, Disproportionate Asset Case, Minister Ponmudi
Supreme Court Asks Karnataka Government to Wait For One Week in Jayalalithaa DA Case(06.02.2017)
Supreme Court has asked Karnataka Government to wait for another week for judgment on appeals filed by State against acquittal of Former Tamil Nadu Ch.....
Tags : Supreme Court, Karnataka Government, Jayalalithaa, disproportionate assets
NCLT Can't Decide Inter-Se Claims by Parties Over Assets of Corporate Debtor: NCLAT(05.02.2019)
National Company Law Appellate Tribunal has held that inter-se claims by parties over assets of the corporate debtor cannot be determined by the Adjud.....
Tags : NCLAT, Inter-Se Claims by Parties Over Assets of Corporate Debtor
SC Rules, Govt. Official’s Illegal Assets Can’t be Attached, if He Dies During Pendency of Suit(05.07.2016)
Supreme Court has ruled that disproportionate assets amassed by a government official cannot be attached from his family members if the officer dies d.....
Tags : Supreme Court, disproportionate assets , government official
Bombay HC Allows Appeal Seeking ‘Equitable Distribution’ of Amounts Recovered from Assets(15.03.2021)
Bombay High Court has allowed appeals by an aggrieved investor in the National Spot Exchange as well as the Maharashtra government who had sought the .....
Tags : Bombay High Court, ‘Equitable Distribution’ of Amounts Recovered from Assets
NCLAT: Asset Can be Kept Out of Liquidation Estate if Asset is Sub-Judice Before High Court(24.01.2022)
National Company Law Appellate Tribunal has held that an asset can be kept out of liquidation estate if the said asset is sub-judice before the High C.....
Tags : National Company Law Appellate Tribunal, Asset, Liquidation
Madras HC Orders Sale of Shares Owned by Disc Assets Lead India Ltd(19.03.2018)
Madras High Court has directed the registry of its Madurai bench not to entertain any plea moved by the directors of Disc Assets Lead India Limited wh.....
Tags : Madras High Court, Disc Assets Lead India Ltd
Rajasthan HC Stays Order Attaching Assets of Chittorgarh Tehsildar, Collector and SP(26.02.2021)
Rajasthan High Court has put a stay on the ACJM Court, Chittorgarh order for the attachment of chair, car and residences of the tehsildar, collector a.....
Tags : Rajasthan High Court, Attachment of Assets
Supreme Court Rejects Karnataka Government's Review Plea in Jayalalithaa DA Case(06.04.2017)
SC has refused to review its verdict in Jayalalithaa disproportionate assets case and rejected Karnataka government's plea asking the court to re-exam.....
Tags : Supreme Court, Jayalalithaa disproportionate assets case, Karnataka government
President Pranab Mukherjee Signs Ordinance Giving RBI More Power to Tackle Bad Loans(05.05.2017)
President Pranab Mukherjee has given a nod to an ordinance to amend Banking Regulation Act for resolution of Non-performing Asset (NPA) crisis, thereb.....
Tags : President Pranab Mukherjee, Non-performing Asset
INSOLVENCY - NCLT Approves RIL-JM Financial ARC's Rs. 5000 cr Bid for Alok Industries(11.03.2019)
National Company Law Tribunal (NCLT) Ahmedabad has approved joint bid by Reliance Industries Ltd-JM Financial Asset Reconstruction Co. Ltd. for insolv.....
Tags : NCLT, Alok Industries, Reliance Industries Ltd-JM Financial Asset Reconstruction Co. Ltd.
ELECTION - Why No Rule for Assets Disclosure by Candidates: SC to Centre(13.03.2019)
Supreme Court has asked Centre why it had not amended Conduct of Election Rules, as per SC’s 2018 ruling, for compulsory disclosure of assets and sour.....
Tags : Supreme Court, Election, Asset Disclosure
Delhi HC: No Requirement for CMM to Fix Time Limit for Taking Possession of Secured Asset(17.12.2021)
Delhi High Court has held that there is no requirement or justification for a Chief Metropolitan Magistrate to fix a time limit for taking possession .....
Tags : Delhi High Court, Fix Time Limit for Taking Possession of Secured Asset
All. HC: Mandatorily Pass Order to Disclose Assets and Liabilities in Maintenance Proceedings(15.03.2024)
Allahabad High Court has directed all Presiding Officers dealing with maintenance proceedings in the State to pass orders making it mandatory for the .....
Tags : Allahabad High Court, Presiding Officers, Maintenance Proceedings, Assets, Liabilities
SC in Disproportionate Assets Case: Acquiring Assets not Crime Unless Source Illegal(02.06.2016)
Supreme Court while hearing DA case has observed that acquiring assets "per se" is not a crime unless the sources are found to be illegal.
Tags : Supreme Court, Disproportionate Assets Case
#Union Budget 2022-2023: Scheme for Taxation of Virtual Digital Assets(01.02.2022)
Union Budget proposes that for taxation of Virtual Digital Asset (VDA), any income from transfer of VDA shall be taxed at rate of 30% without any dedu.....
Tags : Union Budget, Taxation of Virtual Digital Assets
Delhi HC Directs Banks to Keep Status Quo on Asset Classification(09.04.2020)
Delhi High Court has said banks should maintain status quo on asset classification between 1st March, 2020 and 31st May, 2020, the period for which th.....
Tags : Delhi High Court, Status Quo on Asset Classification
RBI Relaxes Stressed Asset Restructuring Rules for Banks(14.06.2016)
Reserve Bank of India (RBI) has relaxed guidelines for restructuring of large stressed assets by lenders in a move that would allow the banks to more .....
Tags : Reserve Bank of India , Asset Restructuring Rules
SC: Sale of Entire Running Business With Assets, Liabilities Is Not 'Short-Term Capital Assets'(19.04.2017)
Supreme Court has held that Section 50 (2) of Income Tax Act will not apply to a case where entire running business with assets and liabilities is sol.....
Tags : Supreme Court, Short-Term Capital Assets
SC Directs Banks Not to Impose Penalty on EMI Default by Amrapali Home Buyers(19.04.2022)
Supreme Court has directed the banks that their accounts shall not be treated as Non-Performing Assets Accounts and no penalties shall be charged fro.....
Tags : Supreme Court , Non-Performing Assets Accounts, EMI, Amrapali Group
CIC Rules: “Disclosing Assets of Official’s Spouse Not Permissible under RTI”(04.10.2016)
Central Information Commission (CIC) has ruled that demanding asset details of spouse and dependents of government officials under Right to Informatio.....
Tags : CIC, asset details of spouse
SC Restores Disproportionate Assets Case against IAS Officer(24.10.2016)
Supreme Court has restored a disproportionate assets case against a UP-cadre IAS officer, K Dhanalakshmi, while setting aside an order of Delhi High .....
Tags : Supreme Court, IAS officer, Delhi High Court, Disproportionate Assets Case
Supreme Court: Disclose Info About Inquiries Against MPs Who Amassed DA(07.09.2017)
Supreme Court has directed Central Government to file a fresh affidavit with information about the results of inquiry by Central Board of Direct Taxes.....
Tags : Supreme Court, disproportionate assets
Supreme Court Seeks Centre's Report on Jump in Assets of Lawmakers Between Elections(07.09.2017)
Supreme Court has asked Centre to furnish details of action initiated against lawmakers, some of whose assets have jumped by over “500 per cent” betwe.....
Tags : Supreme Court, Lawmakers, Assets
Supreme Court: Lawmakers' Assets Known, Time to Talk of Income Source(13.09.2017)
Supreme Court has asked that why should aspiring lawmakers get "immunity" from disclosing their source of income, while hearing a petition that cited .....
Tags : Supreme Court, disproportionate assets
CBDT Notifies Exclusion of Non-Fungible Token as Virtual Digital Asset(04.07.2022)
Central Board of Direct Taxes (CBDT) has notified that the Non-fungible token (NFTs) shall not be treated as Virtual Digital Assets for the purpose of.....
Tags : CBDT, NFT, Virtual Digital Assets
SEBI Issues Notice to Five Asset Management Companies(07.06.2019)
Securities and Exchange Board of India (SEBI) has sent notices to five Asset Management Companies for alleged breach of Insider Trading Regulations. S.....
Tags : SEBI, Asset Management
Notifications & Circulars
Scheme for Sustainable Structuring of Stressed Assets – Revisions(10.11.2016)
We invite a reference to the paragraph 6 of the Statement on Developmental and Regulatory Policies issued by RBI on October 4, 2016. It was proposed t.....
Tags : Scheme, Stressed assets, Structuring
Reserve Bank of India Revises Stressed Asset Norms(10.06.2019)
Reserve Bank of India (RBI) has issued a new prudential framework for resolution of stressed assets, effectively replacing its 12 February 2018 circul.....
Tags : Reserve Bank of India, Stressed Asset
ITAT, Mumbai: Non-Disclosure of Foreign Asset in ITR Not Valid Reason for Imposition of Penalty(08.04.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai has observed that non disclosing of a foreign asset in the income tax return, by itself, is not a valid r.....
Tags : Income Tax Appellate Tribunal, foreign asset, income tax return, Black Money Act, assessee
Karnataka HC Upholds Constitutional Legality of Proviso (v) to S.14(1) SARFAESI Act(14.04.2022)
Karnataka High Court has upheld the Constitutional legality of proviso (v) Section 14(1) of the Securitization and Reconstruction of Financial Assets .....
Tags : Karnataka High Court, Constitutional legality, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
Karnataka HC Grants Relief to Ex-Minister over Disproportionate Assets Case(07.10.2016)
Karnataka HC, while granting relief to Ex-Minister V Somanna, has stayed further proceedings in respect of a complaint pertaining to amassing dispropo.....
Tags : Karnataka HC, disproportionate assets
RBI Eases Stressed Asset Resolution Norms(11.11.2016)
Reserve Bank of India (RBI) has eased rules for various stressed asset resolution schemes and expanded scope of a loan recast plan previously limited .....
Tags : Reserve Bank of India , infrastructure sector, Stressed Asset Resolution
2012 Disproportionate Assets Case: Madras HC Sets Aside Discharge of Former CM Panneerselvam(30.10.2024)
The Madras High Court has set aside the order discharging former Tamil Nadu Chief Minister, O. Panneerselavm and permitting prosecution to withdraw th.....
Tags : Madras High Court, O. Panneerselavm, 2012 Disproportionate Assets Case
Scheme for Sustainable Structuring of Stressed Assets(13.06.2016)
The Reserve Bank of India formulated a scheme for resolution of large stressed accounts. The Scheme for Sustainable Structuring of Stressed Assets, or.....
Tags : rbi, stressed asset, resolution, sustainable, scheme
Disclosure in "Notes to Accounts" to the Financial Statements- Divergence in the asset classification and provisioning(18.04.2017)
1. Please refer to paragraph 22 of the Fourth Bi-monthly Monetary Policy Statement, 2015-16 announced on September 29, 2015 on the captioned subject. .....
Tags : Statements, Disclosure, Asset classification
Income Tax Department detects Foreign Assets in recent search(29.07.2019)
Income Tax Department conducted searches on 23rd July, 2019 in a group covering 13 premises across 3 States (Delhi, Haryana & Himachal Pradesh).
<.....
Tags : Search, Detection, Foreign Assets
System-based asset classification - UCBs(12.08.2020)
1. Please refer to the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 1, 2015 containing consolidated instructions on income re.....
Tags : Asset classification, UCBs, Income Recognition
Clarification pursuant to Circular dated September 11, 2020-Regarding Asset Allocation of Multi Cap Schemes of Mutual Funds(13.09.2020)
SEBI's 2017 circular on scheme categorization sought to achieve two objectives:
- True to Label schemes: The portfolio should reflect the na.....
Tags : Clarification, Asset Allocation, Multi Cap Schemes
Enhancing Credit Supply for Large Borrowers through Market Mechanism(12.05.2016)
The Reserve Bank of India released a paper on Framework for enhancing .....Tags : rbi, large borrower, risk, asset
Asset classification and income recognition following the expiry of Covid-19 regulatory package(07.04.2021)
The Hon'ble Supreme Court of India has pronounced its judgement in the matter of Small Scale Industrial Manufacturers Association vs UOI & Ors. and ot.....
Tags : Asset classification, Income recognition
Disclosure in the "Notes to Accounts" to the Financial Statements - Divergence in the asset classification and provisioning(01.04.2019)
Please refer to our circular DBR.BP.BC.No.63/21.04.018/2016-17 dated April 18, 2017, on the captioned subject, requiring disclosures by banks where di.....
Tags : Disclosure, Financial Statements, Asset classification
Approval of plan for transfer of assets by Air India Limited to AI Assets Holding Limited(25.01.2022)
The Central Government hereby approves the following as plan approved by the Central Government for transfer of assets by Air India Limited to AI Asse.....
Tags : Approval, Transfer, Assets
Cassette - swaps in ATMs(12.07.2021)
1.Please refer to circular RBI/2017-18/162/DCM (Plg.) No.3641/10.25.007/2017-18 dated April 12, 2018 on the captioned subject wherein banks were advis.....
Tags : Cassette, Swaps, ATMs
Central Government notifies the transfer of capital asset from NTPC Limited to NTPC Green Energy Limited(15.06.2022)
In exercise of the powers conferred by clause (viiaf) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies t.....
Tags : Notification, Transfer, Capital asset
Disclosure requirement for Asset Management Companies(25.08.2022)
1. SEBI has amended the definition of "associate" as per clause (c) of sub-regulation (1) of regulation 2 of SEBI (Mutual Funds) Regulations, 1996 vid.....
Tags : Disclosure requirement, Asset Management
Disclosure of divergence in the asset classification and provisioning by banks(31.10.2019)
1. Under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations') a listed entity shall dis.....
Tags : Disclosure, Divergence, Asset classification
Application to regularize assets held abroad to be sent to RBI(10.02.2016)
The Reserve Bank of India notified consideration of applications at its Central Office in Mumbai seeking regularisation of assets held abroad by a per.....
Tags : Rbi, foreign asset, black money, regularisation
Modifications to Prudential Guidelines on Revitalising Stressed Assets(25.02.2016)
The Reserve Bank of India modified and cl.....Tags : Prudential guidelines, stressed assets, modification
Taxability of surplus on sale of shares and securities - Instructions in order to reduce litigation(29.02.2016)
The Central Board of Direct Taxes issued instructions in situations when Assessing Officers hold whether surplus generated from sale of listed shares .....
Tags : capital asset, shares, determination, litigation
Relaxations for Listed Companies having stressed assets(23.06.2020)
SEBI has decided to relax the pricing methodology for preferential issues by listed companies having stressed assets and exempt allottees of preferent.....
Tags : Relaxations, Listed Companies, Stressed assets
Committee on Asset Reconstruction Companies invites views and suggestions from stakeholders(28.04.2021)
As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 7, 2021, the Reserve Bank.....
Tags : Committee, Asset Reconstruction Companies, Stakeholders
Firm and Decisive Government Action taken to preserve value and assets of IL and FS(01.10.2018)
IL&FS, incorporated in 1987, is a large Systemically Important Non-Deposit Accepting Core Investment Company (CIC-ND-SI). It has numerous infrastructu.....
Tags : Assets, Preservation, Decisive Action
Maintenance of CRR/SLR on Foreign Currency Assets/Liabilities- Reference rate for INR/USD and exchange rate of other major currencies(02.08.2018)
Please refer to our circular DBOD.No.Ret.BC.113/12.01.001/2011-12 dated June 29, 2012 on Maintenance of CRR on FCNR(B) Scheme advising banks to be gui.....
Tags : Maintenance, CRR/SLR, Foreign Currency Assets, Liabilities
SC: Outgoing Partner has Right to Seek Accounts & Shares in Profit Until Final Settlement Made(12.11.2024)
Supreme Court has held that if business is being carried on by a partner with the assets of the firm then, the outgoing partner will have a right to s.....
Tags : Supreme Court, Outgoing Partner, Assets
CIC Stays Order on Disclosure of Information on Non-Performing Assets(08.07.2021)
Central Information Commission (CIC) has stayed the order of the First Appellate Authority (FAA) of the Reserve Bank of India (RBI) which had directed.....
Tags : Central Information Commission, Disclosure of Information on Non-Performing Assets
SC Refuses to Entertain Plea Seeking Clarification on Declaration of Loan Accounts as NPA(09.07.2021)
Supreme Court has refused to entertain a plea seeking clarification and modification of its 23rd March 2021 judgement whereby it vacated the stay on d.....
Tags : Supreme Court, Declaration of Loan Accounts as Non-Performing Assets
Judgments
Provisions of Income Tax Act are not applicable, when situs of trademarks and intellectual property rights and owners thereof are not located in India(25.07.2016)
Situs of the owner of an intangible asset would be the closest approximation of the situs of an intangible asset
Petitioner (CUB Pty. Limited.....
Tags : Situs, Intangible assets, Levy
IBC bars jurisdiction of civil courts in respect of any matter in which NCLT or NCLAT is empowered by Code to pass any Order(18.11.2019)
The present civil appeals have been filed by the Appellant-Resolution Professional appointed by the National Company Law Tribunal for the Corporate De.....
Tags : Auction, Assets, Interim order, Jurisdiction
Share Application Money as transferred by the assessee is ‘Capital Asset’ for the purpose of Income Tax Act, 1961(15.12.2020)
In facts of present case, as a part of corporate restructuring undertaken by the assessee group, it was decided that, shares of certain group entities.....
Tags : Assessment, Share money, Capital Assets
No right of representation for borrowers in proceedings by lender seeking assistance to take possession(06.08.2015)
In an application by a creditor seeking assistance to take possession of the secured asset, under Section 14 SARFAESI Act, 2002, there is no requireme.....
Tags : Assistance, secured creditor, asset, notice
District Magistrate or Chief Metropolitan Magistrate can appoint an advocate and authorise him/her to take possession of the secured assets under Section 14(1A) SARFAESI Act(25.02.2022)
The seminal question involved in present cases is whether it is open to the District Magistrate or the Chief Metropolitan to appoint an advocate and a.....
Tags : Possession, Secured assets, Authorization
Proceedings under the SARFAESI Act cannot be continued against corporate debtor, once the CIRP is initiated and the moratorium is ordered(18.05.2022)
Present appeal challenges the judgment passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi ( “the NCLAT”), thereby dismi.....
Tags : Sale, Assets, Corporate Debtor
Only expressly created statutory first charges under Central and State laws can take precedence over claims of secured creditors(04.12.2019)
Present appeal arises out of judgment passed by High Court. Vide the impugned judgment, the High Court has directed the issuance of a recovery certifi.....
Tags : Sale, Secured assets, Proceeds
Company Court to not wield power at winding-up under SARFAESI(29.12.2015)
Provisions of the Companies Act, 1956 in respect of dues of workmen and their protection are incorporated under the Securitisation Act, 2002 and legal.....
Tags : Sarfaesi, companies act, conditions, secured asset
When a public functionary is required to perform a public function within a time frame, the same will be held to be directory unless specified(05.11.2020)
The challenge in the present appeal is to an order passed by the High Court, whereby it was held that Section 14 of the Securitisation and Reconstruct.....
Tags : Secured Assets, Possession, Time limit
Opportunity to decide NPA classification on account-basis slips by(11.04.2016)
A borrower having repaid all of the principal sum but with more than 20 per cent of interest remaining cannot escape the provisions of the SARFAESI Ac.....
Tags : non-performing asset, classification, multiple accounts, borrower