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Gujarat High Court Quashes FIR in Cheating Case Due to Civil Nature of Dispute. Agreement to Sell and Mortgage of Property Not Amounting to Criminal Offence Under Sections 406, 420, 467, 468, 471, 120B IPC.

The present application was filed under Section 482 of the Code of Criminal Procedure, 1973 by three applicants (original accused) seeking quashment o...

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Supreme Court Allows Appeal of Educational Society Founders in CBI Case — Discharge Upheld as Cheating Ingredients Not Made Out. Non-Disclosure of Land Mortgage in AICTE Applications Did Not Amount to Dishonest Inducement Under Section 420 IPC Where AICTE Had Knowledge and No Official Was Implicated.

The Supreme Court allowed the appeal filed by Vipin Sahni and another against the order of the Allahabad High Court which had set aside their discharg...

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Supreme Court Dismisses Municipal Corporation's Appeal Against Resolution Plan Approval in Insolvency Case. Municipal Corporation's Prior Consent to Resolution Plan Precludes Later Objections Under IBC.

The Municipal Corporation of Greater Mumbai (MCGM) appealed against the order of the National Company Law Appellate Tribunal (NCLAT) which had upheld ...

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Bombay High Court Upholds DRAT Order Allowing One Time Settlement in Debt Recovery Case — Interest Must Be Calculated as Per OTS Terms. The court held that the DRT erred in not giving effect to the OTS and in calculating interest beyond the OTS terms, and the DRAT correctly set aside the DRT order.

The petitioners, Small Industries Development Bank of India (SIDBI) and India SME Asset Reconstruction Company Ltd., challenged an order dated 26th Ma...

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High Court of Bombay Allows Secured Creditor's Appeal Against Direction to Deposit Title Deeds in Insolvency — Official Assignee Cannot Demand Title Deeds Without Adjudication of Mortgage Validity Under Presidency Towns Insolvency Act, 1909.

The appeal was filed by Punjab National Bank (the appellant) against an order of a learned Single Judge of the Bombay High Court in Official Assignee'...

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Bombay High Court Allows SICOM's Petition Against Guarantors Under Section 31(1)(aa) of SFC Act for Recovery of Loan Default. Guarantors Held Liable Under Unconditional Guarantee Deed for Repayment of Term Loan.

The petitioner, SICOM Limited, a deemed State Financial Corporation under Section 46 of the State Financial Corporation Act, 1951, filed a petition un...