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Bombay High Court Allows Arbitration Petitions in Loan Dispute — Appoints Sole Arbitrator for IIFL Finance Disputes. Court finds that disputes arising from loan agreements containing arbitration clauses are arbitrable and appoints a retired judge as sole arbitrator.

The judgment concerns three arbitration petitions filed by DS Textiles, Madhuram Fabrics Pvt Ltd, and P R Packing Service against IIFL Finance Limited...

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High Court of Karnataka Dismisses Appeal Challenging DICGC Act Provisions in Cooperative Bank Deposit Insurance Dispute. Sections 18A(5) and 21(3)(4) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, held constitutional and not arbitrary.

The appellant, Sri G.K. Gururaja Rao, Secretary of Sri Guru Raghavendra Sahakara Bank Niyamitha, filed a writ petition under Article 226 of the Consti...

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Bombay High Court Quashes Bank's Wilful Defaulter Declaration for Violating Natural Justice. Show-cause notice lacking specific grounds renders the decision invalid under RBI Master Circular on Wilful Defaulters.

The petitioners, Nitin Shah, Rahul Shah, and Kunal Shah, who were directors of Nitin Fire Protection Industries Ltd. (the corporate debtor under CIRP)...

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Supreme Court Allows Appeal in Arbitration Case Over Bank Guarantee Validity - High Court's Direction to Substitute Bank Guarantee Set Aside as Appellant Complied with Original Order for Scheduled Bank Located in India Under Arbitration and Conciliation Act, 1996.

The Supreme Court of India heard civil appeals arising from special leave petitions filed by SEPCO Electric Power Construction Corporation against Pow...

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Bombay High Court Dismisses Petitions Challenging RBI Moratorium on Urban Co-operative Bank. RBI Directions Under Section 35A of Banking Regulation Act, 1949 Are Binding and Not Subject to Challenge Under Maharashtra Co-operative Societies Act, 1960.

The case involves three writ petitions filed in the Bombay High Court, Aurangabad Bench, challenging the directions issued by the Reserve Bank of Indi...

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Bombay High Court Enforces Foreign Arbitral Award in Favor of Award Holder Against Award Debtor. Court Rejects Objections Under Section 48 of Arbitration and Conciliation Act, 1996 for Non-Compliance, Incapacity, Natural Justice, and Public Policy.

The case concerns the enforcement of a foreign arbitral award dated 17th January, 2011 passed in London, UK, in favor of Vitol S.A. (the award holder)...