Search Results for "Multi-State Co-operative Societies Act, 2002"

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Bombay High Court Allows Petition Challenging Central Registrar's Orders in Co-operative Bank Dispute — Orders Set Aside for Violation of Natural Justice. Petitioner's Removal as Director Based on RBI Inspection Report Quashed as Registrar Failed to Provide Hearing Before Issuing Directions.

The petitioner, Zeeshan Mehdi, was elected as a director of Bombay Mercantile Co-operative Bank Ltd. (respondent no.3) in 2012. In January 2013, the c...

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Bombay High Court Dismisses Challenge to Arbitral Award in Guarantee Dispute — Guarantor's Liability Not Discharged by Family Settlement Without Bank's Consent. Family Settlement Between Guarantor and Principal Debtor Does Not Discharge Guarantor Under Section 134 of Indian Contract Act, 1872.

The petitioner, Narinder Pal Agarwal, was a director and guarantor of Narendra Metal Converters Pvt. Ltd., which had taken loans from Saraswat Coopera...

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Bombay High Court Sets Aside Arbitral Award Due to Arbitrator Disqualification in Multi-State Cooperative Dispute. Failure to Disclose Bias and Withdrawal from Similar Matters Constitutes Grounds for Setting Aside Under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioner, The Saraswat Cooperative Bank Ltd., filed an Arbitration Petition under Section 34 of the Arbitration and Conciliation Act, 1996, chal...

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Bombay High Court Partially Sets Aside Arbitration Award Against Guarantors in Cooperative Bank Dispute — Guarantors Not Liable for Enhanced Credit Facility Without Their Consent. Guarantor Liability Cannot Be Extended Beyond Original Guarantee Under Section 34 of Arbitration and Conciliation Act, 1996.

The judgment concerns two arbitration petitions filed under Section 34 of the Arbitration and Conciliation Act, 1996, challenging a common undated arb...

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Bombay High Court Partially Sets Aside Arbitral Award in Cooperative Bank Dispute for Exceeding Jurisdiction Under MSCS Act and Arbitration Act. Arbitrator's Directions Against Employer and Appointment of Receiver Held Impermissible.

The petitioner, Mr. Ratansi R. Gada, a principal borrower from Abhyudaya Cooperative Bank Ltd., challenged an arbitral award passed by an arbitrator a...