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Karnataka High Court Pronounces Final Order in Writ Petition Challenging Minutes of Committee of Creditors Meeting under IBC, 2016. Key Issue Involved Adequacy of Notice under Section 24 and Natural Justice in Approval of Resolution Plan.

The writ petitioner, a suspended director of Associate Decor Limited (a company under corporate insolvency resolution process), challenged the minutes...

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Bombay High Court Dismisses Appeal for Specific Performance of Agreement to Sell, Upholds Refund of Earnest Money. Court finds that the plaintiff failed to prove readiness and willingness to perform its part of the contract under Section 16(c) of the Specific Relief Act, 1963.

The appellant, M/s. Dreams Construction Private Limited, filed a suit for specific performance of an agreement to sell a land admeasuring 1 Hector and...

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Bombay High Court Dismisses Application to Revoke Leave Granted Under Clause XII of Letters Patent Act, 1866 in Commercial Suit for Loan Recovery. Execution of Assignment Deed in Mumbai Constitutes Part of Cause of Action, Sufficient to Maintain Suit.

The Plaintiff, PIL Industries Limited, a company registered in Mumbai, filed a suit against Deccan Chronicle Holdings Ltd. (Defendant No.1) and others...

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Bombay High Court Upholds Developer's Preliminary Objection to Territorial Jurisdiction in Section 11 Arbitration Application Over Tripartite Loan Agreements. Loan Agreement's Mumbai Seat Cannot Be Imported into Tripartite Agreements That Neither Specify Seat Nor Bind Developer to Mumbai Jurisdiction.

The dispute arose from two Tripartite Agreements dated November 2, 2016, executed among Aditya Birla Housing Finance Limited as lender, M/s. Rise Proj...

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Bombay High Court Quashes MHADA Cancellation of Flat Allotment for Non-Payment Due to Non-Issuance of Demand Letter. Petitioner's Allotment Cannot Be Cancelled Without Issuance of Formal Demand Letter Under Regulation 18(1) of MHADA (Disposal of Land) Regulations, 1992.

The petitioner, Sandeep Uttam Bodke, applied for allotment of a flat under the Lower Income Group (LIG) category in response to an advertisement issue...

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Bombay High Court Dismisses Appeal by Guarantors in SFC Act Recovery Case — Directors Held Jointly and Severally Liable for Company Loan. Guarantors Cannot Raise Defences of Principal Debtor Under Section 31(1)(aa) of State Financial Corporation Act, 1951.

The appeal arises from a judgment dated 19th September 2007 passed by the learned Adhoc District Judge, Pune, in Miscellaneous Civil Petition No.859 o...

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High Court of Karnataka Dismisses State's Appeal in Revenue Recovery Dispute Against Company in Liquidation. Priority of secured creditor's claim under Section 529A of Companies Act, 1956 upheld over State's statutory dues under Karnataka Land Revenue Act, 1964.

The case involves an appeal by the State of Karnataka and its officers against an order of the Company Judge dated 03.11.1998 in Company Application N...