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Bombay High Court Allows Writ Petition Challenging Attachment Notice Against Bona Fide Purchaser of Flat from Borrower. Recovery Certificate Not Binding on Purchaser Who Paid Full Consideration Before Loan Availed.

The petitioner, Swati Mangesh Sawant, filed a writ petition challenging a notice dated 12 March 2021 issued by the Special Recovery Officer and a Reco...

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Bombay High Court Allows Writ Petition by Debenture Trustee Seeking Enforcement of Security Interest Against Developer and Its Directors Under SARFAESI Act — Held That Trustee Is a 'Secured Creditor' Entitled to Take Possession of Mortgaged Property Despite Pending RERA Proceedings.

The petitioner, IDBI Trusteeship Services Limited, a debenture trustee, filed a writ petition seeking a direction to the District Collector, Pune, and...

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High Court of Bombay at Goa Allows Section 9 Petition for Interim Relief in Iron Ore Sale Dispute. Petitioner granted injunction restraining respondent from drawing on bank guarantees and ordered to maintain status quo on letter of credit.

The petitioner, M/s. Vedanta Limited (formerly Sesa Sterlite Ltd), a company engaged in extraction, sale and export of iron ore, entered into a Master...

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High Court of Karnataka Allows Appeal by Tax Recovery Officer in Income Tax Recovery Matter — Notices Under Section 226(3) Upheld. General Power of Attorney Does Not Confer Ownership of Bank Accounts, and Attachment Notices to Banks Are Valid Against the Account Holder.

The case involves an appeal by the Tax Recovery Officer (TRO) and the Commissioner of Income Tax against an order of a Single Judge of the Karnataka H...

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Bombay High Court Dismisses Section 9 Arbitration Petition and Winding Up Petition Against Corporate Debtor — No Prima Facie Case for Interim Relief or Insolvency as CDR Scheme Was Under Consideration and Debt Was Not Clearly Due.

The petitioner, Tata Capital Financial Services Ltd., a non-banking financial company, granted a term loan of Rs. 50 crores to the first respondent, U...

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Bombay High Court Dismisses Writ Petition Challenging DRT Orders on Limitation Act Applicability to RDDBFI Act Appeals. Court Holds Section 5 of Limitation Act Applies to Appeals Under Section 30 of RDDBFI Act, Rejecting Petitioners' Argument That Special Statute Excludes Limitation Act.

The petitioners, owners of apartments in Jupiter Complex, Nagpur, challenged orders of the Debts Recovery Tribunal (DRT) and Debts Recovery Appellate ...

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Bombay High Court Upholds Conviction of Bank Manager and Co-accused in Branch Arson Case. Probation Benefit Denied for Offence Under Section 436 IPC as It Carries Life Imprisonment.

The case arises from an incident where the Poladpur branch of Mahad Co-Operative Urban Bank was set on fire on the night of 5th/6th September 1986. Th...