Ms Jasleen K Oberoi

Jasleen K Oberoi

Updates

Banking & Financial Services

Supreme Court rules on post-dated cheque given as security for repayment of loan instalment
India | 23 December 2016

The Supreme Court recently held that a dishonoured post-dated cheque for repayment of a loan instalment that was described as 'security' in the loan agreement was covered by the criminal liability set out in Section 138 of the Negotiable Instruments Act. While deciding whether dishonoured cheques issued to discharge existing liability fall under Section 138, the court explained that the question of whether a post-dated cheque is for "discharge of debt or liability" depends on the nature of the transaction.

Litigation

Supreme Court rules on special judges' power under Prevention of Corruption Act
India | 30 May 2017

The Supreme Court recently dealt with the question of whether a special judge designated to deal with cases under the Prevention of Corruption Act 1988 is empowered to try offences which do not fall within the act. The court held that that there is no prejudice to a trial before a special judge duly appointed to oversee cases that fall under the act if the object of doing so is to try connected cases before the same court.

Supreme Court rules on segregation of grounds in detention order
India | 14 March 2017

The Supreme Court recently clarified and reaffirmed the legal position surrounding the existence and severability of multiple grounds contained in a detention order passed under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act 1974. The Supreme Court addressed the scope of the definition of 'grounds' in a detention order, holding that grounds are the basic facts on which an order is based in light of subsidiary facts or further particulars.

Supreme Court rules on post-dated cheque given as security for repayment of loan instalment
India | 20 December 2016

The Supreme Court recently held that a dishonoured post-dated cheque for repayment of a loan instalment that was described as 'security' in the loan agreement was covered by the criminal liability set out in Section 138 of the Negotiable Instruments Act. While deciding whether dishonoured cheques issued to discharge existing liability fall under Section 138, the court explained that the question of whether a post-dated cheque is for "discharge of debt or liability" depends on the nature of the transaction.

Class actions under Companies Act
India | 15 November 2016

Although the concept of class action was first introduced into law by way of Section 245 of the Companies Act 2013, it only recently came into force. Specifically, Section 245 has introduced the concept of specialised class action by a company's shareholders and depositors. The enactment of Section 245 is likely to have far-reaching effects on the legal regime as, in addition to empowering shareholders and depositors, it will affect how companies conduct their affairs.

Court rules on appointment of arbitrator under special circumstances
India | 26 June 2012

The Supreme Court recently ruled that, despite an express clause providing for an arbitrator, the court can appoint an independent and impartial arbitrator under special circumstances. Through this ruling, the court struck a balance to the extent that it could not ignore the appointment of an arbitrator whom the parties have chosen under the terms of the contract, unless the arbitration would otherwise be rendered void.

Court rules on reference to arbitration despite final settlement
India | 17 January 2012

The Supreme Court recently ruled that disputes or claims regarding payment of work can be raised and referred to arbitration after the party raising such claims has received payment on a final bill issued for the works. Such disputes can be raised even if the party made no objection in respect of such payments at that time, provided that it was not precluded by any clause of the contract from seeking settlement of claims.

Validity of arbitration agreement in unregistered instrument
India | 20 December 2011

In a recent judgment the Supreme Court opined on the question of whether an arbitration agreement contained in an unregistered (but compulsorily registrable) instrument was valid and enforceable. The decision is of interest to parties dealing with immovable property transactions, as it confirms that parties should be vigilant about the statutory requirements of registering and stamping an instrument.

Supreme Court rules corporate body can be prosecuted for criminal offences
India | 01 March 2011

The Supreme Court has ruled on the question of corporate liability for criminal offences, holding that a company cannot claim immunity from criminal prosecution on the grounds that it does not have the necessary mens rea (ie, 'guilty mind') to commit a criminal offence, or that the punishment prescribed for such an offence includes imprisonment.

Court clarifies jurisdiction of arbitral tribunal in relation to scope of contract
India | 18 January 2011

The Supreme Court has reaffirmed the principle that an arbitral tribunal, pending adjudication before it, cannot go beyond the scope of the contract. The court held that in the event that any award of the arbitral tribunal is found to be in violation of the express provision contained in the contract which is the subject matter of the proceeding, such award would be beyond the jurisdiction of the tribunal and thus would merit interference.

Supreme Court rules on doctrine of lis pendens and registration of documents
India | 07 December 2010

The Supreme Court recently discussed and reviewed the law relating to the doctrine of lis pendens with regard to Section 47 of the 1908 Registration Act. This provides that no fixed property can be transferred while an action relating to it is pending before a court of law. The court clarified that the legal fiction created by virtue of Section 47 does not circumvent the operation of lis pendens.

White Collar Crime

Supreme Court rules on special judges' power under Prevention of Corruption Act
India | 29 May 2017

The Supreme Court recently dealt with the question of whether a special judge designated to deal with cases under the Prevention of Corruption Act 1988 is empowered to try offences which do not fall within the act. The court held that that there is no prejudice to a trial before a special judge duly appointed to oversee cases that fall under the act if the object of doing so is to try connected cases before the same court.

Supreme Court rules on segregation of grounds in detention order
India | 13 March 2017

The Supreme Court recently clarified and reaffirmed the legal position surrounding the existence and severability of multiple grounds contained in a detention order passed under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act 1974. The Supreme Court addressed the scope of the definition of 'grounds' in a detention order, holding that grounds are the basic facts on which an order is based in light of subsidiary facts or further particulars.

Supreme Court rules on post-dated cheque given as security for repayment of loan instalment
India | 19 December 2016

The Supreme Court recently held that a dishonoured post-dated cheque for repayment of a loan instalment that was described as 'security' in the loan agreement was covered by the criminal liability set out in Section 138 of the Negotiable Instruments Act. While deciding whether dishonoured cheques issued to discharge existing liability fall under Section 138, the court explained that the question of whether a post-dated cheque is for "discharge of debt or liability" depends on the nature of the transaction.

Supreme Court rules on prior approval for prosecution of public servants
India | 17 October 2016

In a recent judgment the Supreme Court addressed the issue of the protection granted to public servants under the Prevention of Corruption Act, which requires approval to be granted before a public servant can be prosecuted. The court examined whether a public servant who has transferred office when an offence is discovered, but remains a public servant, loses the protection granted under the act.

Supreme Court expands definition of 'public servant' under Prevention of Corruption Act 1988
India | 08 August 2016

The Supreme Court recently addressed whether the chair, directors and officers of Global Trust Bank were considered public servants under the Prevention of Corruption Act. The court observed that the legislature's intention was to strengthen the anti-corruption law by broadening the definition of 'public servant'. As such, the cases against the accused were upheld and the term 'public servant' was found to subsume managing directors, executive directors and other employees.

Supreme Court rules proof of demand essential for convictions under Prevention of Corruption Act
India | 20 June 2016

The Supreme Court recently postulated on the essential factors for determining whether bribery, as contemplated under Section 7 read with Section 13 of the Prevention of Corruption Act, has been committed. The court held that in order to prove an offence under these sections, it is necessary to establish that the public servant both demanded and accepted the bribe.