Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
SC held that Section 11 of SARFAESI Act mandates statutory arbitration for disputes between banks, financial institutions, or asset reconstruction companies relating to securitization, reconstruction, or non-payment of dues. The provision creates a legal fiction presuming an arbitration agreement exists without requiring explicit written consent. The court affirmed that the dispute resolution mechanism under Section 11 is mandatory and cannot be circumvented by alternative guidelines. Consequently, the appeal was dismissed, directing the parties to resolve their dispute through arbitration as prescribed under the SARFAESI Act.
SC held that Section 11 of SARFAESI Act mandates statutory arbitration for disputes between banks, financial institutions, or asset reconstruction companies relating to securitization, reconstruction, or non-payment of dues. The provision creates a legal fiction presuming an arbitration agreement exists without requiring explicit written consent. The court affirmed that the dispute resolution mechanism under Section 11 is mandatory and cannot be circumvented by alternative guidelines. Consequently, the appeal was dismissed, directing the parties to resolve their dispute through arbitration as prescribed under the SARFAESI Act.
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