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Bombay High Court Allows Appeal Under Section 37 of Arbitration Act, Setting Aside Arbitral Award for Violation of Natural Justice and Public Policy. Failure to Provide Opportunity to Cross-Examine Key Witness and Non-Consideration of Vital Evidence Renders Award Patently Illegal.

The appellant, M/s Leaf Bio-Tech Pvt. Ltd., filed an appeal under Section 37 of the Arbitration and Conciliation Act, 1996 against the order of the Ci...

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Bombay High Court Allows Appeal Against Company Law Board Order — Transfer of Shares After BIFR Recommendation Void Under Section 536(2) Companies Act, 1956. Winding Up Deemed to Commence from Date of BIFR Recommendation Under Section 441(2) Companies Act, 1956.

The appellants, Maharashtra Antibiotics and Pharmaceuticals Ltd. (MAPL) and Hindustan Antibiotics Ltd., challenged an order of the Company Law Board (...

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Bombay High Court Dismisses Petition Challenging Discriminatory Sales Tax Rules Under Article 226. Held that Rule 31B and Rule 31AA of the Bombay Sales Tax Rules, 1959 operate in different contexts and do not violate Article 14 of the Constitution.

The petitioners, M/s Graphite India Limited and another, filed a writ petition under Article 226 of the Constitution of India before the Bombay High C...

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Bombay High Court Allows SICOM Petition to Enforce Guarantee Liability Under State Financial Corporations Act, 1951. Guarantors' Defense of Discharge Due to Variation in Contract Rejected as Guarantees Were Continuing and No Material Alteration Occurred.

The petition was filed by SICOM Ltd., a State Financial Corporation, under Sections 31(1)(aa) and 32 of the State Financial Corporations Act, 1951, se...

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Bombay High Court Allows SICOM's Petitions Under Section 31(1)(aa) of SFC Act for Recovery of Term Loan Defaults. Financial Corporation Entitled to Enforcement of Security Interest Without Prior Adjudication of Liability.

The petitioner, SICOM Limited, a deemed State Financial Corporation under Section 46 of the State Financial Corporation Act, 1951, filed a group of pe...

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Bombay High Court Allows SICOM's Petition Against Guarantors Under Section 31(1)(aa) of SFC Act — Guarantors' Liability Is Co-extensive with Principal Debtor, No Need to Exhaust Remedies Against Principal Debtor First

The petitioner, M/s. SICOM Limited, a State Financial Corporation, filed two petitions under Section 31(1)(aa) of the State Financial Corporation Act,...