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Supreme Court Allows IDBI Bank's Appeal in Winding Up Case — Revival of Winding Up Proceedings Set Aside and Sale Deed Directed to Be Executed. Agreement to Sell Not Fraudulent Preference Under Section 531 of Companies Act, 1956 as Executed Beyond Six-Month Period and Bona Fide.

The Supreme Court considered two appeals by IDBI Bank (erstwhile United Western Bank) against judgments of the Madras High Court relating to the windi...

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Bombay High Court Allows Summons for Judgment in Favour of Confirming Bank in Letter of Credit Dispute. Confirming Bank's Right to Recover from Issuing Bank Upheld Despite Allegations of Fraud in Underlying Transaction.

The plaintiff, UBS AG, a foreign bank, filed three summary suits against three Indian banks (State Bank of Patiala, Federal Bank Ltd, and United Weste...

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High Court of Karnataka Hears Petition Under Section 482 Cr.P.C. Challenging Discharge of Accused in Illegal Mining Case — Allegations of Fraudulent Mining Operations and Criminal Conspiracy Examined

The petitioner, an NGO, originally filed a writ petition before the Supreme Court of India under Article 32 of the Constitution seeking an investigati...

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Bombay High Court Disposes Pending Applications and Show Cause Notices in Scheme of Compromise Under Section 391 of Companies Act, 1956. Criminal Proceedings Under Maharashtra Protection of Interest of Depositors Act, 1999 Allowed to Continue Notwithstanding Sanction of Scheme.

The matter arose from a scheme of compromise and arrangement proposed by Europlast India Ltd. under Section 391 of the Companies Act, 1956. The unsecu...