Securities and Exchange Board of India Act, 1992, Section 30, 11(2) -- SEBI (Substantial Acquisition of Shares and Takeover) Regulations, Regns. 27(1)(d) & 20 - Public offer - Determination of lowest price - Held, determination of lowest price u/Reg.20 would be at a stage prior to making of public announcement and not thereafter...........
Punjab Village Common Lands (Regulation) Rules, 1964, Rule 12 - - Exchange of land - Challenge to - Doctrine of estoppel - R.12 of 1964 Rules not complied with - Held, exchange would be void ab initio and principle of estoppel will not be attracted against petitioner-Gram Panchayat...........
Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974, Section 3(1) -- Preventive detention - Representation - Delay in disposal - Does not vitiate the original order of detention - By reason of the delay, only further detention of the detenu will become illegal...........
Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974, Section 3(1) -- Preventive detention - Representation - Article 22(5) of the Constitution casts a legal obligation on the Government to consider the detenus representation as early as possible - Though no time limit is prescribed for disposal of the representation, the constitutional..........
Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974, Section 3(1) -- Preventive detention - Representation - Delay - Can be explained - Court can consider whether delay was occasioned due to permissible reasons or unavoidable causes - It is not enough to say that delay was very short - Even longer delay can be explained - The test is not the..........
Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974, Section 3(1) -- Preventive detention - Representation - Delay - Held, seeking views of the sponsoring authority cannot be said to be a futile exercise...........
Foreign Exchange Regulation Act, 1973, Section 8(1), 14 -- Delayed pronouncement of adjudication order - Practice of Courts and Authorities delaying the pronouncement of orders and matters that have been heard and reserved for such pronouncements - Held, delay by itself does not constitute a ground for setting aside the order that may otherwise be found legally valid and..........
Foreign Exchange Regulation Act, 1973, Section 51 -- Opportunity of cross examination - Not given - Rules of procedure do not apply to adjudicating proceedings - Reversal of the orders and a de novo enquiry into the matter can be ordered only when failure to permit the party to cross examine results in prejudice - In the instant case refusal to permit cross examine the..........
Contract Act, 1872, Section 16 -- Undue influence - Exchange deed - Brother and sister executing a deed of exchange wherein sister exchanged her bigger house with smaller house of brother - Held, exchange deed was executed under undue influence as sister was unmarried and was dependent on her father and brother for settling her marriage and for sustenance and there was no..........
Negotiable Instruments Act, 1881, Section 138, 9 -- Dishonour of cheque - Holder in due course - Meaning - Held, "Holder in due course" means any person who for consideration became possessor of a promissory note, bill of exchange or cheque if payable to bearer, or payee or endorsee thereof, if (payable to order) before amount mentioned in it became payable, and without..........
