Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
This case pertains to the transfer of shares and the issuance of a duplicate share certificate. The key points are: The National Stock Exchange (NSE) issued a "stop transfer" direction to the transfer agent, citing default by a trading member in making payments. The petitioner challenged this direction, arguing that the shares did not constitute assets of the defaulting member. The court held that the NSE, being a stock exchange, is covered under the definition of 'State' and amenable to writ jurisdiction. The impugned communication was neither an order nor a decision under the Securities Contracts (Regulation) Act (SCRA), and the NSE failed to show authority for issuing such a direction. The court quashed the impugned communication and consequential proceedings by the NSE against the transfer agent, allowing the petition for the issuance of a duplicate share certificate as the shares were still recorded in the petitioner's name.
This case pertains to the transfer of shares and the issuance of a duplicate share certificate. The key points are: The National Stock Exchange (NSE) issued a "stop transfer" direction to the transfer agent, citing default by a trading member in making payments. The petitioner challenged this direction, arguing that the shares did not constitute assets of the defaulting member. The court held that the NSE, being a stock exchange, is covered under the definition of 'State' and amenable to writ jurisdiction. The impugned communication was neither an order nor a decision under the Securities Contracts (Regulation) Act (SCRA), and the NSE failed to show authority for issuing such a direction. The court quashed the impugned communication and consequential proceedings by the NSE against the transfer agent, allowing the petition for the issuance of a duplicate share certificate as the shares were still recorded in the petitioner's name.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
