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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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Supreme Court Allows Appeal in IBC Section 7 Application — Cumulative Redeemable Preference Shares Held as Debt, Not Investment. The Court held that CRPS constitute a debt under Section 3(11) of IBC, 2016, and the appellant is a financial creditor entitled to file an application under Section 7.

The appeal arises from the dismissal of the appellant's application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the NCLT and ...

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Bombay High Court Issues Rule Nisi in Cyber Fraud Case Involving Unauthorized Withdrawals of Rs. 38.04 Lakh. Petitioner Claims Banks Breached RBI Guidelines on Internet Banking and Failed to Reverse Fraudulent Transactions.

The petitioner, a freelancer in business consultancy, maintained savings and current accounts with HDFC Bank since 2011 and 2016 respectively. On 14 J...

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Madras High Court Appoints Sole Arbitrator and Grants Interim Relief in Financial Dispute. Court Allows Appointment of Receiver to Secure Hypothecated Assets Under Section 9 of Arbitration and Conciliation Act, 1996.

The petitioner, Vivriti Capital Limited, filed three applications before the Madras High Court: Arb.O.P.No.720 of 2025 under Section 11(6)(a) of the A...

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Bombay High Court Appoints Receiver and Orders Disclosure of Assets in Arbitration Petition for Loan Default. Court grants interim relief under Section 9 of the Arbitration and Conciliation Act, 1996, after consent award cheques are dishonoured.

The Petitioner, Karvy Financial Services Ltd., filed an Arbitration Petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking ap...

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Bombay High Court Dismisses Bank's Petition Seeking Priority Over Sales Tax Dues. Sales Tax Department's First Charge Under Section 38C of Bombay Sales Tax Act, 1959 Prevails Over Secured Creditor's Rights Under Securitisation Act, 2002.

The Thane Janata Sahakari Bank Ltd. (the Bank) filed a writ petition challenging the action of the Sales Tax Department in attaching the property of M...

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Bombay High Court Allows Revision Against Rejection of Leave to Defend in Summary Suit. Bank Granted Conditional Leave to Defend on Deposit of Rs. 25 Lakhs for Triable Issues Regarding Liability as Mortgagee in Possession Under Order 37 CPC.

The case involves a Civil Revision Application filed by ICICI Bank Limited (the applicant/original defendant No.1) against the order dated 30th June 2...

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High Court of Karnataka Allows Appeal by Union Bank of India in SARFAESI Act Matter — Endorsement Declining One-Time Settlement Not a 'Decision' Under Section 17(1) of SARFAESI Act, 2002. Writ Petition Challenging Bank's Endorsement Held Not Maintainable Due to Alternative Remedy Before DRT.

The case involves a writ appeal filed by Union Bank of India (appellants) against an order dated 02.05.2023 passed by a learned Single Judge of the Ka...