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High Court of Karnataka Allows Canara Bank's Writ Petition Seeking Removal of Encumbrance Created by Commercial Tax Department on Mortgaged Property. Priority of Bank's Mortgage Over Statutory Charge Under Karnataka Value Added Tax Act, 2003 Upheld.

The petitioner, Canara Bank, filed a writ petition under Articles 226 and 227 of the Constitution of India seeking a writ of mandamus directing the St...

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Bombay High Court Allows Winding Up Petition Against Varun Global Limited for Non-Payment of Loan Debt. Life Insurance Corporation of India Succeeds in Proving Company's Inability to Pay Debts Under Sections 433(e) and 434 of the Companies Act, 1956.

The petitioner, Life Insurance Corporation of India (LIC), filed a company petition under Sections 433(e) and 434 of the Companies Act, 1956, seeking ...

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Bombay High Court Examines Arbitral Tribunal's Interim Order Directing Undertaking Against Alienation of Property. Arbitration Petition Filed Under Section 37 of the Arbitration and Conciliation Act, 1996 Challenging Order Under Section 17 in a Long-Pending Development Dispute.

The Arbitration Petition under Section 37 of the Arbitration and Conciliation Act, 1996 was filed challenging the Arbitral Tribunal's interim order da...

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Bombay High Court Dismisses Application for Recall/Review of Order Allowing Secured Creditor to Release Leasehold Rights. Applicant, an ex-director and guarantor, lacked locus standi as he was not a party to the original application and no fraud or mistake was established.

The judgment concerns an application filed by Mr Shashikant Pasari, an ex-director and guarantor of Rajan (Textile) Mills Pvt Ltd (in liquidation), se...

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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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Supreme Court Dismisses Appeal of Accused in Cheque Dishonour Case — Upholds Conviction Under Section 138 NI Act for Security Deposit Refund. Cheques Issued for Refund of Security Deposit Under Lease Agreement Constitute Legally Enforceable Debt; Compensation Enhanced to Full Deposit Amount.

The case arises from a lease-cum-rent agreement dated 12th May 2014 between the appellant-accused (landlord) and the respondent-complainant (tenant) f...

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Bombay High Court Dismisses Application to Strike Off Defence in Foreign Award Enforcement Proceedings. Security Deposit Condition Not a Bar to Defend Petition on Merits Under Order 39 Rule 11 CPC and Section 49 of Arbitration and Conciliation Act, 1996.

The petitioners, Pacific Basin Handymax (UK) Ltd., filed a Notice of Motion under Order 39 Rule 11 of the Code of Civil Procedure, 1908, seeking to st...