Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
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Depositories are not confined to mechanical record-keeping; under the Depositories Act, the 2018 Regulations and approved bye-laws, they owe investor-protection and supervisory duties, including vigilance through enhanced supervision and an early warning mechanism. On the facts described, failure to detect dormant-account movement, off-market transfers and the subsequent pledge of client securities amounted to negligence, so the beneficial owner was entitled to indemnification and the depository could recover from the participant, who acted within the depository framework as the depository's agent. On appellate review, Section 37 permitted no reappreciation where the arbitral award and Section 34 order rested on evidence, disclosed reasons and a plausible view, so interference was refused.
Depositories are not confined to mechanical record-keeping; under the Depositories Act, the 2018 Regulations and approved bye-laws, they owe investor-protection and supervisory duties, including vigilance through enhanced supervision and an early warning mechanism. On the facts described, failure to detect dormant-account movement, off-market transfers and the subsequent pledge of client securities amounted to negligence, so the beneficial owner was entitled to indemnification and the depository could recover from the participant, who acted within the depository framework as the depository's agent. On appellate review, Section 37 permitted no reappreciation where the arbitral award and Section 34 order rested on evidence, disclosed reasons and a plausible view, so interference was refused.
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