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Supreme Court Partly Allows Appeal and Modifies Decree in Mortgage Suit Under Mysore Money Lenders Act, 1939. Interpretation of 'Principal of Original Loan' Under Section 17 Leads to Re-computation of Arrears of Interest and Future Interest Directions.

The dispute arose from a civil suit for recovery on two simple mortgages dated 12 January 1937 and 14 June 1937, filed by the predecessor-in-interest ...

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High Court of Karnataka Allows Appeal in Recovery Suit — Loan Repayment Claim Upheld Despite Lack of Written Agreement. Preponderance of Probabilities Favored Plaintiff as Defendant Admitted Receipt of Money but Failed to Prove Alternative Purpose.

The appellant, Mr. Manjunath S., filed a Regular First Appeal under Section 96 of the Code of Civil Procedure, 1908, against the judgment and decree d...

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Bombay High Court Dismisses Petition Seeking Cash Compensatory Support for Deemed Exports Under Duty Exemption Scheme. CCS Not Available for Supplies Made to Advance License Holders as Policy Only Covers Direct Exports.

The petitioners, Maharashtra Fur Fabrics Ltd. and its shareholder, filed a writ petition challenging orders of the Ministry of Commerce denying Cash C...

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High Court of Karnataka Hears Writ Petition Seeking Enforcement of RBI COVID-19 Moratorium Package. Petitioner Challenges Banks' Denial of Moratorium Under RBI Circular Dated 27.03.2020.

Velankani Information Systems Limited, a company operating an IT park and a five-star hotel in Bengaluru, availed term loans aggregating Rs. 475 crore...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case Regarding Advance Receipts and Expenditure Recognition for Holiday Scheme. Tribunal's order upheld as no substantial question of law arises from the Commissioner's revision under Section 263 of the Income Tax Act, 1961.

The case involves two appeals by the Revenue (Commissioner of Income Tax-7) against the order of the Income Tax Appellate Tribunal dated 16th March 20...

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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...