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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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Supreme Court Allows Appointment of Arbitrator in Defence Contract Dispute Over Encashment of Warranty Bond. The court held that the claims were not barred by limitation as bilateral discussions continued until 2019, and the arbitration clause covered the dispute.

The petitioner, a Swiss company engaged in arms manufacturing, entered into a contract with the Ministry of Defence, Government of India, for supply o...

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Bombay High Court Dismisses PIL Seeking Regulation of Time Share Companies as Collective Investment Schemes Under SEBI Act. Court Holds That Time Share Arrangements Do Not Constitute Collective Investment Schemes and That Grievances Are Contractual in Nature.

The petitioner, M/s Securities & Time Share Owners Welfare Association, filed a public interest litigation seeking a direction to the Securities and E...

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Bombay High Court Dismisses Appeal Against Consent Order Recording Settlement in Arbitration Challenge. Parties Bound by Compromise Under Order XXIII Rules 1 & 3 CPC; No Appeal Lies Against Consent Order.

The appellant, Bhiwandi Nizampur City Municipal Corporation, entered into a contract with the respondent, M/s. Antony Waste Handling Cell Pvt. Ltd., f...

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Supreme Court Dismisses Appeal in Partnership Dispute, Upholds Dissolution Over Retirement. Court clarifies distinction between retirement of a partner and dissolution of a partnership firm under the Partnership Act, 1932.

The Supreme Court dismissed the appeals filed by Guru Nanak Industries and Swaran Singh (since deceased, represented by legal representatives) against...

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High Court of Karnataka Allows Mutual Divorce Petition Under Section 13B of Hindu Marriage Act, 1955 Despite Parties Living Under Same Roof. Living Under Same Roof Does Not Bar Mutual Divorce if Parties Have No Marital Relationship for Over a Year.

The appellants, a Hindu couple married on 27.11.2005 under Arya Samaj rites, filed a petition for divorce by mutual consent under Section 13B of the H...