Blog – The Law Offices of Rony Oommen John

Application for filing additional documents is liable to be dismissed if the party does not explain why the documents were not filed along with the plaint.

DID YOU KNOW that in an application for producing additional documents in a commercial suit under Order 11 of the CPC, the plaintiff must provide a reason for not disclosing the documents earlier along with the plaint?.......

Purchase of all assets of a company in an auction does not amount to taking over the management of the company.

DID YOU KNOW that merely purchasing the immovable and movable assets of a factory in the auction conducted by the secured creditor (bank) does not constitute taking over the management and the entire unit as a going concern? .......

Regulatory Litigation
Blog

Liability cannot be imposed on the basis of uncorroborated and unexamined statements of co-noticees.

DID YOU KNOW that in the absence of any documentary evidence and solely on the basis of uncorroborated statements of co-noticees, a noticee may not be found liable in an adjudication of a show-cause notice issued by the SEBI?.......

Interim relief in the nature of final relief cannot be granted by a civil court.

DID YOU KNOW that courts may reject an application for interim injunction if the relief sought in such application is the same as the relief sought in the main suit to the effect that granting the former relief may lead to granting the latter relief?.......

Insurance Policy not vitiated because of unrelated pre-existing illness

DID YOU KNOW that in an insurance claim, the application of the exclusionary clause in light of a pre-existing illness may be avoided if the consumer forum finds that the alleged pre-existing illness is completely unrelated to the illness which triggered the application of the insurance policy?.......

Interrogatories under the CPC cannot be resorted to access irrelevant or confidential documents

DID YOU KNOW that in an application for delivering interrogatories moved by a party, the Court may find the information sought to be brought on record to be irrelevant and subject to confidentiality or privilege and dismiss such application?.......

Regulatory Litigation
Blog

Factors prescribed under the SEBI Act for calculation of quantum of penalty are mandatory but not exhaustive.

DID YOU KNOW that the SEBI Act prescribes factors that must be considered while deciding the quantum of penalty for contravention of a provision of SEBI Act? These factors include the amount of disproportionate gain/unfair advantage; the amount of loss caused to investor(s); the repetitive nature of the default. These factors are not exhaustive and other factors beyond these can also be looked at to reduce the quantum of penalty.......

Regulatory Litigation
Blog

Mandatory requirement of payment of pre-deposit can be waived on the ground of undue hardship

DID YOU KNOW that certain statutes like FEMA have for a requirement of pre-deposit of penalty/duty as a pre-condition for appeal? These statutes confer power on the Appellate Tribunal to waive this condition of pre-deposit, provided the person claiming waiver is able to show “undue hardship”. Undue hardship is linked to financial position and can be proved by showing that there is lack of liquidity, despite having illiquid assets in the balance sheet......

Mere set-off or counter claim may not constitute a triable case so as to avail leave to defend a summary suit

DID YOU KNOW that our office is representing a plaintiff in a summary suit in Delhi where the subject matter of dispute is the advance token amount given in respect of a prospective lease of a commercial property.......

Taxation
Blog

Price paid for purchase of software from a non-resident entity is not “royalty” under Income Tax Act, 1961

DID YOU KNOW that the purchase price paid to any non-resident manufacturer or distributor (such as IBM, Microsoft etc.) by an Indian distributor or end-user does not constitute royalty, so as to give rise to any income taxable in India?.......

Category: Blog