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High Court of Karnataka Directs Banks to Comply with RBI Prudential Framework for Stressed Assets Resolution in Writ Petition by Borrower Company. The court held that the RBI circular dated June 7, 2019, is binding on banks and that the borrower has a right to seek a review meeting under the framework.

The petitioner, Ganjam Nagappa and Son Private Limited, a company incorporated under the Companies Act, 1956, filed a writ petition under Articles 226...

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NCLAT Dismisses Appeal of Homebuyer Seeking Late Claim Filing in CIRP — Resolution Plan Approved Prior to Claim Filing Cannot Be Reopened. Homebuyer's claim filed after CoC approval of resolution plan was rightly rejected by RP as per IBC Regulations.

The case involves an appeal filed by Sonia Kapoor, an allottee of a unit (A-1-104) in a real estate project of Dream Procon Pvt. Ltd. (Corporate Debto...

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Supreme Court Allows Appeal for Enhanced Compensation in Land Acquisition Case — Blue Zone Classification Not Proved by State. Market Value Determined at Rs. 100 per sq. ft. Based on Comparable Awards for Similar Lands Acquired for Same Purpose Under Land Acquisition Act, 1894.

The case pertains to the acquisition of land owned by the appellant, Kazi Akiloddin, for the construction of a flood protection wall in Akola, Maharas...

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Bombay High Court Dismisses Petitions Challenging Permission to Open New Law College Under Maharashtra Public Universities Act, 2016. State Government's Discretion Under Section 109(3)(d) Upheld as Absolute; Annual Plan Need Not Be Strictly Within Perspective Plan.

The Bombay High Court dismissed two writ petitions challenging a Government Resolution dated 15.06.2023 granting permission to respondent No.4 to open...

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Bombay High Court Allows State's Petition Challenging NCLT Order De-freezing MPID Attached Accounts. MPID Act Overrides IBC for Attachment and Confiscation of Properties of Financial Establishments.

The State of Maharashtra, through the Deputy Collector and Competent Authority (NSEL), filed a writ petition under Articles 226 and 227 of the Constit...

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Bombay High Court Allows Petition Challenging Modification of Development Plan Under MRTP Act for Non-Compliance with Section 31(3) and Section 37. The court held that modification of land reservation from educational to residential is substantial and requires notice and hearing.

The petitioner, Modern Education Society, Vita, a registered public trust engaged in educational activities, challenged a part of the notification dat...

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Bombay High Court Dismisses Petitions Challenging Land Acquisition for Garden and Playground in Development Plan. Land Reserved Under Maharashtra Regional and Town Planning Act, 1966 Cannot Be Challenged on Grounds of Delay or Change of Purpose Once Acquisition Proceedings Are Initiated.

The judgment concerns two writ petitions filed by Abhijit Chandrakant Chaunda and Chandrashekhar Mallikarjunappa Bidve challenging the acquisition of ...