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Bombay High Court Considers Challenge to SBI Mutual Fund Merger and Directs SEBI Impleadment to Assess Regulatory Compliance. Court Examines Maintainability Under Article 226 and the Validity of Merger Based on Prevailing NAV Without Investor Meeting in Light of SEBI (Mutual Funds) Regulations, 1996.

The Petitioner, appearing in person, filed a writ petition under Article 226 of the Constitution challenging the merger of the SBI One India Fund with...

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Supreme Court Dismisses Appeal by Suspended Director in IL&FS Accounts Reopening Case — Recasting Permitted Under Section 130 Companies Act. Court holds that SFIO and ICAI reports provide sufficient basis for reopening accounts and that suspended director lacks locus standi.

The case pertains to an appeal filed by Hari Sankaran, a suspended director of Infrastructure Leasing & Financial Services Limited (IL&FS), against th...

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Bombay High Court Hears Appeal Against Company Law Board Order Dismissing Petition. Court Frames Questions on Applicability of Section 111A and Section 43A of Companies Act, 1956 to Deemed Public Company.

The appeal arose from a company petition filed by the appellants, members of the Kavasmaneck family, before the Company Law Board, Mumbai, alleging op...

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High Court of Karnataka Upholds KSAT Order Setting Aside Promotions in Co-operative Audit Department for Violation of Seniority Rules. Promotions made without considering seniority and without following Rule 32 of Karnataka Co-operative Audit Department Service (Recruitment) Rules, 2011 are invalid.

The petitioners, who were Joint Directors of Co-operative Audit in Karnataka, challenged an order dated 16/03/2023 passed by the Karnataka State Admin...

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High Court of Judicature at Bombay Reviews Appeals from Single Judge's Interim Orders in Share Control Dispute. Appeals Concern Enforcement of Arbitral Award, Injunctions, and Corporate Governance Interim Measures.

The High Court of Judicature at Bombay heard four appeals arising from a common order dated 26-03-2003 passed by a Single Judge in two suits concernin...

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Bombay High Court Allows Cooperative Bank's Petition Against Setting Aside of Ex Parte Award Against Principal Borrower. Principal Borrower Cannot Participate in Proceedings Without Depositing Loan Amount.

The case involves two writ petitions filed by Rupee Cooperative Bank Limited against Vijaya Paints Pvt. Ltd. and others. The bank had obtained an ex p...