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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Bombay High Court Allows Appeal Against Reconstruction of Suit Records Without Determining Pendency. Order for Reconstruction of 1969 Suit Records Set Aside as Prothonotary Failed to Verify Pendency and Notice Not Given to Defendants.

A suit was instituted on the Original Side of this Court in 1969 for the redemption of a mortgage executed in 1925. The Defendants were a company owne...

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Karnataka High Court Allows Second Appeal in Specific Performance Suit Due to Failure to Prove Agreement of Sale. Agreement of Sale Not Proved as Attesting Witnesses Not Examined and Plaintiff Failed to Show Readiness and Willingness Under Section 16(c) of Specific Relief Act, 1963.

The appellant, Chanabasanagouda, was the defendant in a suit for specific performance filed by the respondent, Umeshgouda (since deceased, represented...

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Bombay High Court Dismisses Application to Revoke Leave Granted Under Clause XII of Letters Patent Act, 1866 in Commercial Suit for Loan Recovery. Execution of Assignment Deed in Mumbai Constitutes Part of Cause of Action, Sufficient to Maintain Suit.

The Plaintiff, PIL Industries Limited, a company registered in Mumbai, filed a suit against Deccan Chronicle Holdings Ltd. (Defendant No.1) and others...

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High Court Dismisses Applicants Revision Applications Against Multiple Borrowers in Loan Recovery Case Due to Procedural Deficiencies and Lack of Jurisdictional Error

The High Court dismissed a series of Civil Revision Applications filed by Applicant challenging the dismissal of its applications for restoration of s...