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Bombay High Court Dismisses Petitions Challenging RBI's Moratorium and Liquidation of CKP Co-operative Bank Ltd. — Petitioners' Deposits Not Covered by Deposit Insurance as Bank Was Under Moratorium Prior to Insurance Scheme Introduction.

The judgment pertains to a batch of writ petitions filed by depositors of the CKP Co-operative Bank Ltd., which was placed under moratorium by the Res...

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Bombay High Court Allows Scheme for Small Fixed Deposit Holders in Winding-Up Petition Against Lloyds Finance Ltd. — Court directs framing of scheme to repay small depositors instead of winding up the company, considering that winding up would leave no recovery for any creditor.

The judgment arises from a winding-up petition filed by Shri Basant Lal Agarwal against M/s. Lloyds Finance Ltd. for recovery of Rs. 3,75,00,000 advan...

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Bombay High Court Adjudicates Writ Petitions Filed by Depositors of PMC Bank Seeking Relief from Withdrawal Restrictions. Court Examines Validity of RBI Directions and Protection of Depositors' Interests under Relevant Banking and Co-operative Laws.

A batch of writ petitions and a public interest litigation were filed before the Bombay High Court by various depositors and account holders of the Pu...

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High Court of Karnataka Dismisses Appeal Challenging DICGC Act Provisions in Cooperative Bank Deposit Insurance Dispute. Sections 18A(5) and 21(3)(4) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, held constitutional and not arbitrary.

The appellant, Sri G.K. Gururaja Rao, Secretary of Sri Guru Raghavendra Sahakara Bank Niyamitha, filed a writ petition under Article 226 of the Consti...

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Bombay High Court Dismisses Judgment Debtor's Challenge to Executing Court's Order Allowing Deposit of Balance Consideration in Specific Performance Suit. The court held that the Executing Court has power to permit deposit beyond the decree's time limit when delay is unintentional and no stay is granted.

The petitioner, Ruprao Nagorao Zade, was the judgment debtor in a suit for specific performance of an agreement to sell agricultural land. The suit wa...

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Bombay High Court Dismisses Section 9 Petition by Debenture Trustee Seeking Deposit and Injunction — No Prima Facie Case for Interim Relief as Trustee Failed to Establish Breach of Trust or Impairment of Security Under Trust Deed and Information Memorandum.

The petitioner, IDBI Trusteeship Services Limited, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim rel...

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High Court of Bombay Adjudicates Petitions Under Section 37 of Arbitration Act Against Interim Deposit Order. The Arbitral Tribunal Had Directed Joint and Several Deposit of Rs.190 Crores and Restraint on Property Alienation.

The dispute arose from a Share Holders Agreement (SHA) dated 27 December 2012 and subsequent amendments between the Claimants (investors) and the Resp...