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Supreme Court Allows Appeal of SBI Consortium in Corporate Guarantee Dispute Under IBC. Corporate Guarantees Executed by Corporate Debtor Constitute Financial Debt Under Section 5(8) of IBC, 2016, and Are Enforceable Despite Timing and Stamping Objections.

The Supreme Court allowed the appeal filed by the Appellant Consortium against the order of the National Company Law Appellate Tribunal (NCLAT) which ...

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Bombay High Court Dismisses Appeal Under Section 37 of Arbitration and Conciliation Act, 1996 — Upholds Arbitral Award Holding Stockbroker Liable for Unauthorized Trades by Agent. Broker Failed to Prove Client Authorization for Disputed Trades, Resulting in Compensation of Rs.14,37,200/- to Client.

The case involves an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, filed by IIFL Capital Services Limited (formerly IIFL Secu...

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Bombay High Court Allows Widow's Family Pension Claim Under CRPF Rules — Liberal Interpretation of 'Family' Includes Widow Despite Husband's Remarriage. The Court held that the definition of 'family' under Rule 5 of CRPF Rules, 1971 includes the first wife, and denial of pension would be unjust.

The petitioner, Smt. Ranjana w/o Bhaskar Anasane, filed a writ petition before the Bombay High Court (Aurangabad Bench) seeking family pension as the ...

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Bombay High Court Allows Summary Judgment in Favor of Asset Managers in Commercial Paper Recovery Suit Despite Pending SICA Appeal. The court held that Section 22 of SICA does not bar recovery suits where BIFR has declined registration, and the defendant failed to raise any triable issue.

The plaintiffs, Pramerica Asset Managers Pvt. Ltd. and others, filed two summary suits against Deccan Chronicle Holdings Ltd. for recovery of Rs. 25 c...

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High Court of Bombay Quashes Sanction Order in Disproportionate Assets Case Against IRS Officer — Sanctioning Authority Failed to Apply Independent Mind and Relied on CBI Report Without Proper Application of Mind.

The petitioner, Vivek Batra, an Indian Revenue Service officer, challenged the sanction order dated 09.10.2012 granted by the Union of India for his p...

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Bombay High Court Allows Second Appeal in Teacher Appointment Dispute — Violation of Government Directives Under Grant-in-Aid Code Can Give Rise to Civil Suit. Government Resolutions and Notifications Issued for Regularising Grant-in-Aid Code Are Not Mere Administrative Orders but Binding Directions.

The case involves a Second Appeal filed by the original Plaintiff, Tukaram Pandurang Matekar, against the Head Master of Sant Dnyaneshwar High School ...

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Bombay High Court Dismisses Writ Petition Challenging Transfer Order of Deputy Nautical Advisor — Transfer Held to Be Administrative Decision Not Subject to Judicial Review Unless Mala Fide or Violative of Service Rules.

The petitioner, Captain Vipin Das Baijal, was working as Deputy Nautical Advisor in the Marine Mercantile Department, Mumbai. He was transferred from ...

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NCLAT Allows Appeal Against Dismissal of Section 7 IBC Application by Financial Creditor. Loan Agreement and Default Established Through Signed Documents and Acknowledgment of Debt.

The present appeal was filed by Desana Impex Limited (Appellant), a Non-Banking Financial Corporation (NBFC) registered under the Companies Act, 2013 ...