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High Court of Karnataka Dismisses Appeal by Corporate Debtor Against Banks in SARFAESI Act Proceedings — Civil Suit Barred Under Section 34 of SARFAESI Act as Alternative Remedy Under Section 17 Before DRT Exists.

The appellant, Kingfisher Airlines Limited, a company registered under the Companies Act, 1956, had availed various credit facilities from a consortiu...

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High Court of Judicature at Bombay Nagpur Bench Hears Letters Patent Appeals Against Writ Petition Order in Co-operative Sugar Factory Dispute — Appeals involve allegations of mismanagement, enquiry under Section 83 of Maharashtra Co-operative Societies Act, 1960, and liquidation proceedings.

The High Court of Judicature at Bombay, Nagpur Bench, heard two Letters Patent Appeals (No. 197 of 2009 and No. 239 of 2009) arising from Writ Petitio...

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Supreme Court Allows Appeal in IBC Limitation Dispute — Application Under Section 7 Held Barred by Limitation. Acknowledgment of Debt in Balance Sheets Does Not Extend Limitation for Initiating CIRP Under IBC.

The Supreme Court allowed the appeal filed by Babulal Vardharji Gurjar, a director of Veer Gurjar Aluminium Industries Pvt. Ltd., against the order of...

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High Court of Karnataka Examines Validity of SARFAESI Act Auction Sale Where Title Derived from Alleged Forged Documents. Court Considers Whether Auction Purchaser is Entitled to Refund of Sale Consideration on Ground of Fraud.

The writ petition was filed by M/s Paramount Constructions Company challenging the sale certificate dated 10.10.2014 issued by the Authorised Officer ...

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Supreme Court Upholds Pro-rata Pension for Voluntary Retiree Under Bank's Voluntary Retirement Scheme. Employee with 11 years of service and over 40 years of age held eligible for pension under Regulation 14 of Central Bank of India (Employees') Pension Regulations, 1995.

The case involves an appeal by the Central Bank of India against a judgment of the Rajasthan High Court which allowed the writ petition of the respond...