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Bombay High Court Allows Substitution of Assignee in Pending Arbitral Proceedings Under Section 15 of Arbitration Act. Assignment of debt includes right to continue arbitration; unilateral appointment of arbitrator by original lender does not invalidate substitution.

The applicant, Integro Finserv Private Limited, an NBFC, filed three applications under Section 14 read with Section 11 read with Section 15 of the Ar...

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High Court of Karnataka Recalls Earlier Conviction Order and Re-Hears Appeal on Maintainability of Section 378(4) Cr.P.C. in Cheque Dishonour Case. Court Addresses Whether Second Appeal Lies Against Acquittal by First Appellate Court Under Negotiable Instruments Act.

This criminal appeal under Section 378(4) of the Code of Criminal Procedure, 1973 arose from a cheque dishonour complaint under Section 138 of the Neg...

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Bombay High Court Allows SFC Petition Against Guarantors Under Section 31(1)(aa) of SFC Act, 1951 — Guarantors Liable Despite Company's Winding Up. Guarantee is a separate contract and liability of guarantor is co-extensive with principal debtor under Section 128 of Indian Contract Act, 1872.

The petitioner, SICOM Limited, a State Financial Corporation, filed a petition under Section 31(1)(aa) of the State Financial Corporation Act, 1951 ag...

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High Court of Karnataka Dismisses Appeal in Specific Performance Suit — Plaintiff Failed to Prove Readiness and Willingness. Agreement to Sell Not Proved as Genuine and Enforceable Due to Lack of Credible Evidence and Discrepancies in Pleadings.

The appellant, Harish, filed a suit for specific performance of an agreement to sell dated 05.12.2008 allegedly executed by the respondents in his fav...

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High Court of Karnataka Dismisses Revision Petition in Negotiable Instruments Act Case — Conviction for Cheque Bounce Upheld. Dishonour of Cheque for Discharge of Existing Debt Attracts Liability Under Section 138 of Negotiable Instruments Act, 1881.

The criminal revision petition was filed by the accused-petitioner challenging the judgment dated 31.10.2012 passed by the II Addl. District and Sessi...

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High Court of Karnataka Upholds Conviction in Cheque Bounce Case — Revisional Court Cannot Reappreciate Evidence Unless Perverse. Accused failed to rebut presumption under Section 139 of Negotiable Instruments Act, 1881 regarding legally enforceable debt.

The case arises from a private complaint filed by the complainant (since deceased, represented by legal representatives) against the accused-petitione...