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Bombay High Court Allows Appeal in MPID Act Case — Quashes Attachment Order for Lack of Nexus with Crime. Property of Hotel Avion Private Ltd cannot be attached under Section 3 of Maharashtra Protection of Interest of Depositors Act, 1999 without direct link to alleged default.

The appellant, Hotel Avion Private Ltd, filed two criminal appeals challenging the attachment of its property under the Maharashtra Protection of Inte...

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Supreme Court Dismisses Interlocutory Applications in Property Dispute — Vacation of Status Quo Denied. Court holds that third-party rights cannot be adjudicated in pending special leave petition without proper impleadment and evidence.

The Supreme Court was hearing three interlocutory applications in a pending special leave petition. I.A. No.6484 of 2018 sought vacation or modificati...

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Bombay High Court Quashes Customs Demand Against Ex-Director for Company Dues — No Personal Liability Without Statutory Provision. Section 142(1)(c)(ii) of Customs Act, 1962 does not authorise recovery from a former director who ceased to be associated with the company before the demand.

The petitioner, Purshottam Das Gupta, an 86-year-old senior citizen, was formerly a director of Sujata Verbatim Limited (later renamed PDG Infotech Li...

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Bombay High Court Dismisses Section 9 Arbitration Petition and Winding Up Petition Against Corporate Debtor — No Prima Facie Case for Interim Relief or Insolvency as CDR Scheme Was Under Consideration and Debt Was Not Clearly Due.

The petitioner, Tata Capital Financial Services Ltd., a non-banking financial company, granted a term loan of Rs. 50 crores to the first respondent, U...