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Bombay High Court Quashes FIR Against HDFC Bank Executive in Cheque Dishonour Case — Donation Not a Legally Enforceable Debt Under Section 138 NI Act. Court held that a cheque issued as a donation without existing liability does not attract penal provisions under Negotiable Instruments Act, 1881.

The petitioner, Sashidhar Jagdishan, an individual aged 79 years and an executive at HDFC Bank, filed a criminal writ petition under Article 226 of th...

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Bombay High Court Dismisses Petitions Challenging SARFAESI Act Applicability to Cooperative Banks and Arbitration Awards. Multi-State Cooperative Bank held to be a 'bank' under SARFAESI Act, and arbitration under Multi-State Cooperative Societies Act does not bar subsequent SARFAESI proceedings.

The judgment concerns three writ petitions filed by borrowers challenging actions taken by Abhyudaya Co-operative Bank Ltd. and Piramal Capital and Ho...

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Bombay High Court Dismisses Petition Challenging Rejection of Discharge in Bank Fraud Case — Petitioner, a General Manager of a Cooperative Bank, Allegedly Violated RBI Guidelines by Investing in Non-SLR Securities Through a Broker, Causing Loss to the Bank.

The petitioner, Kishore Deshpande, was the General Manager of CKP Co-operative Bank Ltd. and was arraigned as accused No.5 in FIR No. RC 8/E/2010 regi...

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Bombay High Court Allows SEBI's Appeal Against Interim Order Restraining Adjudication Proceedings. Civil Suit Against SEBI Held Not Maintainable Due to Alternative Remedy Under SEBI Act, 1992.

The case involves an appeal by the Securities and Exchange Board of India (SEBI) against an interim order passed by a Single Judge of the Bombay High ...

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Bombay High Court Allows Appointment of Arbitrator in MOU Dispute Between Developer and Public Trust. Arbitration Clause in MOU dated 16 June 2011 Held Valid and Binding Despite Non-Formation of Special Purpose Entity.

The petitioner, M/s. Devike Constructions and Developers Pvt. Ltd., filed a petition under Section 11 of the Arbitration and Conciliation Act, 1996, s...

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Karnataka High Court Division Bench Hears Appeals Against Single Judge Order Quashing SARFAESI Auction Sale. Single Judge Had Canceled Sale Deed of Agricultural Land for Non-Compliance with Statutory Notice Requirements and Prohibition on Selling Agricultural Land under SARFAESI Act, 2002.

The dispute arose from a writ petition filed by a borrower challenging the auction sale of his property under the Securitisation and Reconstruction of...

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Karnataka High Court Dismisses Quo-Warranto Petitions Challenging KPSC Appointments, Upholds Executive Power Under Article 316. Court Rules That Article 316 is a Complete Code and No Rules are Required for Appointing Chairman and Members of the State Public Service Commission.

Two public interest litigations were filed by Shashi Prasad Gandhi and T. Narasimhamurthy challenging the appointments of the Chairman and members of ...

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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...