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Bombay High Court Dismisses Writ Petition Challenging Cancellation of Banking Licence of Co-operative Bank. Reserve Bank of India's Order Under Section 22(4) of Banking Regulation Act, 1949 Upheld as No Ground for Interference in Writ Jurisdiction.

The petitioners, Surendra K. Kambli and another, were members and shareholders of the Bhandari Co-operative Bank Ltd. (First Respondent), a co-operati...

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Bombay High Court Grants Anti-Suit Injunction Restraining Bank from Proceeding in Hong Kong Court in Loan Recovery Dispute. The court held that the trial court's refusal on jurisdictional grounds was not sustainable and confirmed the interim injunction pending final disposal.

The appellant, KSL and Industries Limited and another, filed an appeal against an order dated 25 November 2013 passed by the City Civil Court, Mumbai,...

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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 Dismisses Petition Challenging Sale of Assets Under Securitisation Act. The Court upheld the acceptance of the highest bid by the Reconstruction Company, finding no arbitrariness in the process.

The petitioners, Akhilesh Spintex Pvt. Ltd. and its director, filed a writ petition challenging the sale of assets of respondent No.7 by respondent No...

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Bombay High Court Dismisses Appeal Against Summary Judgment in Bank Guarantee Enforcement Case. Court holds that invocation of bank guarantee is independent of underlying contract disputes and must be honoured unless fraud or irretrievable injustice is established.

The case arises from a summary suit filed by Bank of India (the respondent) against the appellants, who were the original defendants, for enforcement ...

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Bombay High Court Upholds Levy of Fees on Transporters and Traders Under Essential Commodities Act for Maintenance of Public Distribution System. The court held that the levy under Section 3(3)(f) of the Essential Commodities Act, 1955 is a valid regulatory fee and not a tax.

The judgment involves multiple writ petitions and civil applications challenging the levy of fees on transporters and traders under the Maharashtra Es...