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Bombay High Court Delivers Oral Judgment on Sanction of Scheme of Arrangement Amid BIFR Pendency. Maintainability Under Sections 391 and 394 of Companies Act, 1956 Against Overriding Effect of Sick Industrial Companies (Special Provisions) Act, 1985 Considered.

The petitioner, Ashok Organics Industries Ltd., incorporated in 1973, filed a petition under Sections 391 and 394 of the Companies Act, 1956, seeking ...

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Karnataka High Court Dismisses Complainant's Appeal Against Acquittal in Dishonour of Cheque Case. Court Holds Accused Successfully Rebutted Presumption Under Section 139 of Negotiable Instruments Act by Adducing Defence Evidence of Security Cheque for Third-Party Loan.

The matter arose from a complaint under Section 138 of the Negotiable Instruments Act, 1881 filed by the appellant-complainant against the respondent-...

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Bombay High Court Quashes Criminal Proceedings in Abetment of Suicide Case Due to Lack of Evidence of Instigation or Intent. Allegations of Loan Recovery Harassment Do Not Constitute Abetment Under Section 306 IPC Without Direct Act of Instigation.

The applicants, including Sachin Ramu Gawli and others, filed a criminal application under Section 482 of the Code of Criminal Procedure, 1973, seekin...

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Bombay High Court Dismisses Appeal Against Refusal to Restrain Bank Guarantee Invocation in Contract Dispute. No Fraud or Special Equities Established to Prevent ONGC from Encashing Bank Guarantees Furnished by Mercator Oil & Gas.

The appellant, Mercator Oil & Gas Limited, had entered into a contract with the first respondent, Oil & Natural Gas Corporation Limited (ONGC), for th...

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Bombay High Court Dismisses Suit for Lack of Jurisdiction in Bank Guarantee Dispute — Exclusive Jurisdiction Clause in Contract Confers Jurisdiction on Chennai Courts. Plaintiff L&T's Suit Challenging Invocation of Performance Bank Guarantee Dismissed as Bombay High Court Has No Territorial Jurisdiction.

The plaintiff, Larsen & Toubro Limited (L&T), filed a suit in the Bombay High Court seeking a declaration that the invocation of a Performance Bank Gu...

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Supreme Court Dismisses Appeal to Enforce English Summary Judgment in Guarantee Dispute — Foreign Judgment Held Unenforceable for Violating Principles of Natural Justice Under Section 13 CPC. Summary judgment passed after denying leave to defend is not conclusive and cannot be enforced in India.

The dispute arose from a Share Purchase and Co-operation Agreement (SPCA) executed on 12.05.1995 between (appellant, a foreign company) and (responden...