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Bombay High Court Dismisses Petition Challenging Arbitral Award in Co-operative Bank Loan Dispute. Court upholds award holding borrowers jointly and severally liable for Rs.9.88 crore with interest under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioners, Abid & Company Steels Private Limited and its directors, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1...

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Bombay High Court Dismisses Appeal by Financial Institution in Suit for Recovery of Money Due to Failure to Prove Loan Agreement and Liability of Promoters. Equity Participation by Appellant Did Not Create a Debtor-Creditor Relationship with Respondents.

The appellant, EDC Limited, a financial institution, filed a suit for recovery of Rs. 17,50,000/- with interest against the respondents, M/s. GKB Opht...

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Bombay High Court Dismisses Employer's Writ Petitions Challenging Rejection of Intervention in Industrial Dispute. Petitioners Not Necessary Parties Under Bombay Industrial Relations Act, 1946.

The case involves two writ petitions filed by Empress Mills, a unit of Maharashtra State Textile Corporation Limited, challenging orders passed in B.I...

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Bombay High Court Dismisses Bank's Writ Petitions Against Labour Court Orders in Recovery Proceedings Under Section 33C(2) of Industrial Disputes Act, 1947 — Held That Assignee Bank Steps Into Shoes of Transferor and Is Liable for Pre-Transfer Claims of Workmen.

The petitioners, the Authorized Officer and Chairman & Managing Director of IDBI Bank (Stressed Assets Stabilization Fund), filed four writ petitions ...