https://www.taxtmi.com/caselaws?id=458385 Amendments to stock exchange bye-laws and regulations that shortened the appeal period and removed condonation of delay were held not to apply retrospectively to proceedings already initiated, because subordinate legislation is presumed to operate prospectively unless clear contrary intent is shown. The Court further affirmed that the right of appeal is a vested substantive right accruing when proceedings commence, and that this right includes the procedural incident of seeking condonation where that remedy existed under the governing law. On that basis, the appellate refusal to entertain the delay application was unsustainable, and the appeals with condonation applications were restored for decision on merits. en-us Tue, 07 Jan 2014 00:00:00 +0530 Thu, 24 Oct 2024 10:40:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458385 Amendments to stock exchange bye-laws and regulations that shortened the appeal period and removed condonation of delay were held not to apply retrospectively to proceedings already initiated, because subordinate legislation is presumed to operate prospectively unless clear contrary intent is shown. The Court further affirmed that the right of appeal is a vested substantive right accruing when proceedings commence, and that this right includes the procedural incident of seeking condonation where that remedy existed under the governing law. On that basis, the appellate refusal to entertain the delay application was unsustainable, and the appeals with condonation applications were restored for decision on merits. Case-Laws Indian Laws Tue, 07 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458385