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High Court of Karnataka Allows Canara Bank's Appeal Against Refund Order in SARFAESI Auction Dispute — Bank Not Obliged to Refund 25% Deposit When Auction Purchaser Defaults on Balance Payment.

The appellant, Canara Bank, conducted an e-auction on 29 November 2021 of a property under the Securitisation and Reconstruction of Financial Assets a...

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Bombay High Court Allows MSRTC Petition in Guarantor Recovery Dispute — Industrial Court Order Set Aside for Lack of Employer-Employee Relationship. Co-guarantor cannot claim protection under MRTU & PULP Act against employer of principal debtor as recovery action is not an unfair labour practice.

The petitioner, Maharashtra State Road Transport Corporation (MSRTC), challenged the judgment and order dated 05.10.2016 of the Industrial Court, Nagp...

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Bombay High Court Dismisses Bank's Petition in Guarantee Dispute Due to Lack of Privity of Contract. Guarantee Agreement Held Unenforceable as Principal Debtor Was Not a Party to the Contract Under Indian Contract Act, 1872.

The petitioner, Dena Bank, filed a writ petition challenging the order of the Debts Recovery Appellate Tribunal (DRAT) dated 27.10.2015, which dismiss...