#legalnews Archives - Page 11 of 11

4 Dec

SEBI is a public body and should in the best interests of the Public : Bombay HC criticizes SEBI of non-compliance of court orders.

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TITLE : Pina Pankaj Shah and Ors V Securities and Exchange Board of India

CITATION : W.P 530 of 2023

CORAM : Hon’ble justice G.S Kulkarni and Hon’ble Justice Jitendra Jain

DATE: 1^st December, 2023

INTRODUCTION :

Two writ petitions were filed in which the petitioners were the minority shareholders of Bharat Nidhi Ltd (BNL) and complaint were lodged against them in SEBI for violations of various securities laws.

FACTS :

The petitioners claimed that BNL is violating securities laws including violations pertaining to the Minimum Public Sharing and contended that SEBI should investigate the same. SEBI issued a notice to BNL which was not shared to the petitioners. It was stated that BNL was listed in non functional stock exchange boards. BNL is also a major shareholder of Bennett Coleman and Co. Ltd. SEBI considered the illegalities of BNL. It was contended by the petitioners in front of SEBI board that settlement would not be enough and filed petitions directing SEBI to take appropriate action against BNL under Article 226 of the Constitution.

The high court directed SEBI to provide the documents relating to the investigations to be published to the petitioners. SEBI issued a special leave in front of the Hob’ble Supreme Court to dismiss the order which was subsequently rejected. However the documents relating to the investigations were not provided to the petitioners and they deemed it a misconduct.

COURT’S ANALYSIS

The court held that SEBI is a public body and should act in the best interests of the public. The court criticised SEBI for persistent non-compliance with the courts order and called it an unacceptable behaviour. SEBI’s claim for not publishing the documents to be fair was dismissed by the court. It held that, despite the orders of the court, SEBI has deliberately acted unreasonably. The court further ordered SEBI to issue the documents as it is a part of their substantive rights to know.

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Written by- Sanjana Ravichandran

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1 Dec

Assignee need not file a leave for continuance of suit proceedings : Bombay HC

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Title: Ratnamala Mohan Aklujkar V Smt. Sushila Nirmalkumar Rungta and ors

Decided on: 29^th November, 2023

Citation : Civil Writ Petition No. 1723

Coram: Hon’ble Justice Rajesh S. Patil

Introduction

A Writ petition was filed under Article 227 of the constitution of India challenging the Appellate bench of Small Causes of Bombay in the matter of an Eviction Suit.

Facts of the Case

An eviction suit was filed under Section 16(1)(a) and (b) of the Maharashtra Rent Control Act, 1999 in the Small Causes Court of Bombay. Subsequently, the owner of the property sold the building. The defendant in the eviction suit filed an application on the rejection of the Plaint on the grounds that the owner-tenant relationship to be ceased due to the conveyance of property and such plaint is barred by the provisions of CPC.

The suit was dismissed by the Small Causes Court of Bombay, however the appellate bench of the same reversed the order and allowed the eviction suit. It was argued that the defendants reason for rejection of plaint was not mentioned in the provisions of Order VII, Rule 11 of the CPC.

Courts analysis and decision

The court relied on the judgement of Sharadamma v Mohammed Pyarejan that a dismissal cannot be done on the account of failure of filing an application to continue the proceedings by the assignee. Furthermore, it was declared that a suit cannot be dismissed on the ground that applicant did not file a leave for continuation of Suit under Order XXII, Rule 10 of the CPC. The court also dismissed the writ petition and held that the eviction proceedings to be continued for the benefit of the new owner.

Written by- Sanjana Ravichandran

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1 Dec

Termination of a workman cannot be done without proper evidence : Bombay HC upholds the decision of Labour Court

Prime Legal

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TITLE : Emerson Climate Technologies v Shirish Ramchandra Pawar

CITATION : Writ petition no 12995 of 2015

CORAM : Hon’ble Justice Milind N. Jadhav

DATE: 28^th November 2023

INTRODUCTION :

A writ petition was filed under Article 226 and 227 of the Constitution of India challenging the orders of Presiding Officer, Labour Court at Satara on a matter pertaining to termination of an workman by the petitioner company.

FACTS :

The respondent, a Mr. Shirish Ramchandra Pawar, a welder was terminated by the petitioner company whose registered office is in Pune. Shirish was working in the company for a period of 21 years and has clean and unblemished work record.

He was working in the second shift and completed his duty at 12.30 AM and thereafter sat in a bus for departure. He then fell asleep and subsequently when Mr. K.B More was inspecting the bus to check to find 3kg of copper material under the respondent’s seat in his bag. He was then later accused of stealing those materials. An enquiry was set up and the respondent informed him that the charges were not accepted. The enquiry officer found the workman guilty. An award was given by the presiding officer at labour court and held that there was no sufficient evidence to prove the respondent had stolen the copper materials. The same is impugned in the current writ petition.

COURT’S ANALYSIS

The labour court had held that the enquiry officer had failed to record proper reasons as to how he had come to the conclusion that the property which was seized was due to an act committed by the Respondent – workman. The cross examination done by the enquiry officer was said to be corroborated and unreliable as the witnesses statements most likely to be fabricated.

The court agreed with the labour court and upheld its decision and the award was held to be proper and perverse.

Written by- Sanjana Ravichandran

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7 Nov

The Gujarat High Court to decide on matter relating to whether the fantasy gaming fall within actionable claim amounting to betting and gambling or based on skills

Prime Legal

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Title: NXGN Sports Interactive Private Limited v. Union of India

Date: 03 November, 2023

+ R/ Special Civil Application No. 19183 of 2023

CORAM: Hon’ble Justice Biren Vaishnav and Justice Mauna M. Bhatt

Introduction

The Gujarat High Court will make a decision regarding the question of whether fantasy gaming is based on abilities or constitutes an actionable claim akin to betting and gambling.

Facts of the Case

The petitioner contested the GST department’s show-cause notice. The petitioner brought up the question of whether their gaming platform would be subject to an actionable claim that amounted to gambling and betting. Activities or transactions shall be classified as neither a supply of goods nor a supply of services, in accordance with Section 2(52) of the GST Act read with Section 7, specifically Schedule (III). Actionable claims that don’t include gaming, betting, or lotteries.

Courts analysis and decision

The court issued a notice returnable on 17^th January, 2024.

Ad-interim relief will be granted until the petition, preventing the respondents from acting further in relation to the show cause notice’s resolution. The petitioner may, nevertheless, choose to submit a response to the show cause notice.

Written by- Hargunn Kaur Makhija

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