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Madras High Court Dismisses Writ Petition Challenging Bank's Set-off of Fixed Deposit Against Loan Default Under SARFAESI Act. Bank's Right to Set-off Margin Money Fixed Deposit Against Outstanding Loan Upheld as Contractual and Statutory Right Under Section 171 of Contract Act and SARFAESI Act.

The writ petitioner, M/s Chithra Agencies Private Limited, an authorized dealer of Castrol India Ltd., availed cash credit facility from Canara Bank, ...

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Supreme Court Allows Bank's Appeal in Consumer Dispute Over Loan Processing Fee Refund. Bank's Circular Requiring Upfront Processing Fee Collection Held Binding on Consumer; Refund Denied to Avoid Unjust Enrichment.

The case involves a dispute between Bank of India (appellant) and M/s. Brindavan Agro Industries Pvt. Ltd. (respondent/consumer) regarding the refund ...

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Bombay High Court Allows Writ Petition Restraining Invocation of Bank Guarantee in Contract Dispute — Payment of Minimum Wages Held Sufficient Under Clause 31.01 of Contract Conditions, Not Higher Rates Under National Coal Wage Agreement.

The petitioners, M/s. PLR Projects Pvt. Ltd. and its Managing Director, filed a writ petition challenging the invocation of two bank guarantees dated ...

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Bombay High Court Dismisses Appeal Against Encashment of Standby Letters of Credit in Commercial Dispute. Principle of Autonomy of Letters of Credit Upheld — Injunction Granted Only on Grounds of Fraud or Irreparable Injury, Not Breach of Underlying Contract.

The appellant, Drive India Enterprise Solutions Ltd., filed an appeal against the dismissal of its petition under Section 9 of the Arbitration and Con...