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Monday, February 26, 2018

corporate laws - M.V. Act - Insurance laws - personal expenditure was fixed from 1/3 to 1/2 as dependents are majors= The deduction made for personal expenses at 1/3 is very low keeping in view the fact that the claimants are his two major sons and two grand­daughters. - We feel that 50% deduction is called for and if this factor is taken into consideration then the loss of dependency is Rs.1,82,250/­ and if multiplier of 5 is used, the compensation works out to Rs.9,11,250/­.

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1 ‘NON­REPORTABLE’ IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION SPECIAL LEAVE PETITON (C) NO(S).13931 OF 2017 NEW INDIA ...

Erroneous findings are liable to be set aside = We fail to understand how the High Court could come to this conclusion. In the written statement the defendant had denied the averments made in Para 2 of the plaint. The defendant had denied that he had received Rs.92,000/­ as earnest money. There was no admission by him of any of the allegations. The reasoning given by the High Court is specious and cannot stand scrutiny. The High Court did not discuss the evidence at all and erred in setting aside the concurrent findings of both the Courts.

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1 ‘NON­REPORTABLE’ IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO(S). 2435  OF 2018 (@SLP (C) NO(S).34464 ...

corporate laws - tax laws- Rajasthan Sales Tax Act, 1994, - when sale price reduced - assessee is entitled for refund of excess sale tax paid = refund of the sales tax paid on the excess sale amount i.e. Rs.37/­. The case of the assessee was that he had paid tax on the provisional price of Rs.682/­ per cylinder. After the price had been reduced to Rs.645/­, he was only entitled to Rs.645/­. The oil companies had taken refund of the amount of Rs.37/­ and, therefore the tax paid on the excess amount be refunded to him. The assessee also urged that this amount of Rs.37 should not be counted in its total turnover. = though the assessee may have received Rs.682/­ per cylinder, it was under a legal obligation only to receive that price which was fixed by the MoP & NG. This price could have been higher than Rs.682/­ per cylinder, in which event the assessee would have had to collect and deposit with the Rajasthan Sales Tax Department sales tax on the excess amount. However, since the price of the cylinder has been reduced, the assessee cannot charge more than the price fixed, is bound to refund the excess amount collected and is therefore legally entitled to get refund of the tax paid on the excess amount. - In view of the above discussion, we allow the appeals, set aside the judgment of the High Court and direct that the assessee shall be refunded the amount of sales tax paid on the excess amount. The order of the Deputy Commissioner is restored. The assessee shall be entitled to interest at the rate of 9% per annum on the amount payable to it from the date of the order of the Deputy Commissioner till payment of the amount.

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1 ‘REPORTABLE’ IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO(S). 2431   OF 2018 (@SLP (C) NO(S).23659 OF ...

corporate laws - Excise laws - sale of liquor along and in the proximity of highways = the state governments would not be precluded from determining whether the principle which has been laid down by this Court in the order dated 11 July 2017 in Arrive Safe Society (supra) should also apply to areas covered by local selfgoverning bodies and statutory development authorities. We are inclined to allow the state governments to make this determination since it is a question of fact as to whether an area covered by a local self-governing body is proximate to a municipal agglomeration or is sufficiently developed as to warrant the application of the same principle. In deciding as to whether the principle which has been set down in the order dated 11 July 2017 should be extended to a local self-governing body (or statutory development authority) the state governments would take recourse to all relevant circumstances including the nature and extent of development in the area and the object underlying the direction prohibiting the sale of liquor on national and the state highways. The use of the expression ‘municipal areas’ in the order dated 11 July 2017 does not prevent the state governments from making that determination and from taking appropriate decisions consistent with the object of the orders passed by this Court. We leave it open to individual licensees to submit their representations to the competent authorities in the state governments if they are so advised upon which appropriate decisions may be taken by the state governments.

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1 IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION MA Nos 489-491/2018, 366-368/2018, 392-394/2018, 395-397/2018, 388- 390/2...

corporate laws - SARFAESI Act= Indiabulls Housing Finance Limited, -vs- M/s. Deccan Chronicle Holdings Limited =Merely because steps are taken under this general law would not mean that remedy under the special statute is foreclosed. = respondent No.1 would be treated as ‘borrower’ within the meaning of Section 2(1)(f) of the SARFAESI Act; the arrangement would be classified as ‘security arrangement’ under Section 2(1) (zb); the agreements created ‘security interest’ under Section 2(1) (zf); and the appellant became ‘secured creditor’ within the meaning of Section 2(1)(zd) of SARFAESI Act.

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REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 18 OF 2018 INDIABULLS HOUSING FINANCE LIMITED ....