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Madras High Court Dismisses Writ Appeal; Upholds Rejection of Delayed Appeal Under Section 70 of Chit Funds Act, 1982. Ex-parte Award and Enormous Delay of Three Years Not Condoned by Government.

The writ appeals arose from a chit fund dispute where the appellants, members of a chit fund and one as a guarantor, defaulted in payment. The matter ...

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High Court of Karnataka Upholds Acquittal in Negotiable Instruments Act Case — Complainant Fails to Prove Debt Legally Enforceable. Loan of Rs. 1,00,000 advanced by LIC agent to acquaintance not proved as legally recoverable debt under Section 138 of Negotiable Instruments Act, 1881.

The complainant-appellant, Sharanappa, filed a criminal appeal under Section 378(4) of the Code of Criminal Procedure, 1973, challenging the judgment ...

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High Court of Karnataka Allows Appeal Against Execution Court Order Dismissing Application to Set Aside Auction Sale for Non-Compliance with Order XXI Rule 84 CPC. Failure to Deposit 25% of Purchase Money on the Same Day as Sale Renders Auction Void.

The appellants, who were judgment debtors in execution proceedings, filed an application under Order XXI Rule 90 read with Section 151 CPC to set asid...

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Bombay High Court Grants Bail to Accused in Chit Fund Fraud Case on Grounds of Parity and Lack of Prima Facie Evidence of Cheating. Co-accused already granted bail by Sessions Court; applicants similarly placed and entitled to bail under Section 439 CrPC.

The Bombay High Court considered two bail applications under Section 439 of the Code of Criminal Procedure, 1973, filed by Sachin Vasant Shelar (accus...

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Supreme Court Dismisses Appeal Against SEBI Order Declaring Art Funds as Collective Investment Schemes. Trusts managing pooled investments in art works held to be Collective Investment Schemes under SEBI Act, 1992, despite being structured as trusts rather than companies.

The Supreme Court dismissed Civil Appeal No. 19936 of 2017 challenging the order of the Securities Appellate Tribunal which had upheld SEBI's directio...

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Bombay High Court Quashes FIR in Cheque Dishonour Case Due to Lack of Evidence of Debt or Liability. Complaint under Section 138 of Negotiable Instruments Act, 1881 fails as complainant failed to prove legally enforceable debt.

The applicants, Ravindra s/o Bhimrao Khillare, Seema w/o Ravindra Khillare, Deepak s/o Bhimrao Khillare, and Kalpana w/o Deepak Khillare, filed a crim...