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High Court Dismisses Bank's Revision in SARFAESI Act Suit — Civil Court Jurisdiction Not Barred. Suit for Declaration and Injunction Regarding Personal Guarantee Held Maintainable as It Does Not Relate to Enforcement of Security Interest Under Section 34 of SARFAESI Act.

The case involves a civil revision application filed by Allahabad Bank against an order of the Joint Civil Judge, Junior Division, Nagpur, rejecting t...

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Supreme Court Allows Bank's Appeal Against Confiscation Orders Under Central Excise Act and SARFAESI Act. Commissioner's Use of Omitted Rule 173Q(2) Invalid and SARFAESI Act Grants Priority to Secured Creditors Over Excise Dues.

The appeal arose from a judgment of the Allahabad High Court dismissing a writ petition filed by Punjab National Bank. The bank had extended credit fa...

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Bombay High Court Allows Appeal Against Receiver's Appointment in Embezzlement Suit. Third Party Claimants Not Party to Suit Cannot Have Receiver Appointed Over Their Properties Without Trial.

The appeal arose from an order dated 5th September 2019 passed by a learned Single Judge (R.I. Chagla J.) on a motion filed by the original plaintiff ...

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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Bombay High Court Dismisses Writ Petition Challenging Rejection of Leave to Sue Under Section 92 CPC for Public Trust Dispute. Section 52 of Maharashtra Public Trust Act Bars Application of Sections 92 and 93 CPC to Public Trusts.

The petitioners, members of Mahad Taluka Maratha Seva Sangh, a trust registered under the Maharashtra Public Trust Act, 1950 and the Societies Registr...