There was an unwritten law among the Porbandar Memons living in South Africa that death should be preferred to bankruptcy. It was impossible for Tyeb Sheth to pay down the whole sum of about 30,000 and costs. He meant to pay not a pie less than the amount, and he did not want to be … Read more
In the instant case seller was not in a position to discharge his burden and, therefore, he is not entitled for refund. In view of the said position, all the authorities have held that a question of refund of tax would not arise in the case of the appellant, since no tax had been … Read more
Pursuant to the aforesaid order, the respondent has filed an additional counter affidavit, in which he has emphasized the desirability of remanding the matter back to the disciplinary authority for re-determination of the matter. He has emphasized that failure to supply the enquiry report to the delinquent deprives him of making a proper representation … Read more
The appellant was, thus, held guilty also of causing the knife injury to Rakesh and came to be convicted under section 324 in addition to section 302 of the Penal code. Under section 324, he was sentenced to rigorous imprisonment for one year. He was also convicted under section 25 of the Arms Act … Read more
The defence plea that PW2 had received the injuries on the evening of June, 23 and not in the morning of June, 24 gains credence from the fact that an incident between the two sides had admittedly taken place on the evening of June 23, 1995. In the face of this admitted position and … Read more
On the basis of the definition, we can find in clause 2 (11) “undisclosed asset located outside India” means an asset (including financial interest in any entity) located outside India, held by the assessee in his name or in respect of which he is a beneficial owner, and he has no explanation about the … Read more
So, except in very serious cases of fraud, we cannot use this. So, I have amended that provision. And the normal provisions under the Cr.P.C. will apply as far as bail is concerned. Now, the provisions are being amended, were referred to by Shri Rahman Khan, are relating to the mandatory capital limit. Similarly, … Read more
The Institute of Chartered Accountants has already issued auditing standards and the fraud reporting methodology is incorporated in those auditing standards. Sir, detecting the fraud has been left with the auditors which responsibility must also be entrusted to the management or its various officers like the Managing Director, the Chief Financial Adviser, the Administrator, … Read more
Sir, thank you for giving me the opportunity to speak on the Companies (Amendment) Bill. Sir, this House and the other House passed the Companies (Amendment) Act, 2013 after an exercise of more than a decade. The Companies Act, 1956 was replaced by the Companies Act, 2013 after a prolonged discussion, deliberations with the … Read more
The High Court fell in grave error in holding that the suit was barred by time, and ignored to appreciate that the right of the appellants to have the revenue record corrected arose when the appellants came to know about the wrong entry and the respondents failed to join the appellants in getting it … Read more
