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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 Revision Against Conviction in Cheque Dishonour Case — Presumption Under Section 139 NI Act Not Rebutted. Accused Failed to Prove Cheque Was Issued as Security, Not for Repayment of Loan.

The case involves a criminal revision application filed by the accused, Vyomesh Jitendra Trivedi, challenging his conviction under Section 138 of the ...

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Bombay High Court Quashes FIR Against Bank and Employees in Loan Dispute — Dispute Held Purely Civil, No Prima Facie Case of Cheating or Criminal Breach of Trust. Allegations of Forgery and Use of Forged Documents Also Not Made Out, FIR Quashed Under Section 482 CrPC.

The judgment arises from two writ petitions filed by ICICI Bank Ltd., its employees (Zarin Daruwala, Girish Nayak, Arati Ramakrishnan, Vipul Parmar, K...

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Bombay High Court Dismisses Assessee's Appeal in Income Tax Case — Upholds Disallowance of Capital Losses and Business Loss on Guarantee Transactions. Tribunal's findings on sham transactions and lack of commercial substance affirmed under Income Tax Act, 1961.

The appellant, Killick Nixon Limited, filed an appeal under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tri...

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Bombay High Court Dismisses Appeal Against Refusal to Revoke Leave Under Clause XII Letters Patent in Summary Suit on Guarantee. Jurisdiction upheld as part of cause of action arose in Mumbai due to disbursement and part payments.

The appeal arose from a summary suit filed by Rabo India Finance Limited (Plaintiff) against Gouri Prasad Goenka (Defendant) based on guarantees execu...

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Bombay High Court Dismisses Revision Against Refusal to Reject Plaint in Suit for Conveyance and Amenities. Plaint Disclosed Cause of Action and Claim for Conveyance is Continuing Cause of Action Not Barred by Limitation.

The case involves a civil revision application filed by the applicants (defendants in the suit) challenging the order of the learned Senior Civil Judg...