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Madras High Court Dismisses Writ Petition Challenging Bank's Set-off of Fixed Deposit Against Loan Default Under SARFAESI Act. Bank's Right to Set-off Margin Money Fixed Deposit Against Outstanding Loan Upheld as Contractual and Statutory Right Under Section 171 of Contract Act and SARFAESI Act.

The writ petitioner, M/s Chithra Agencies Private Limited, an authorized dealer of Castrol India Ltd., availed cash credit facility from Canara Bank, ...

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Madras High Court Dismisses Bank's Challenge to Sales Tax Recovery, Holds Crown Debt Prevails Over Bank's Lien. Priority of State's statutory dues under Section 26 of Tamil Nadu General Sales Tax Act, 1959 over bank's contractual lien on fixed deposits is upheld.

The petitioner, Oriental Bank of Commerce, a public sector bank, had extended credit facilities including packing credit and overdraft to the third re...

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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Supreme Court Upholds OROP Benefit for Army Postal Service Personnel on Deputation from Department of Posts. Personnel of APS on deputation from Department of Posts are entitled to One Rank One Pension as per Government Circular dated 7th November 2015.

The case involves an appeal by the Union of India against an order of the Armed Forces Tribunal, Regional Bench, Jabalpur, which allowed an Original A...

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Bombay High Court Dismisses Application for Release of Arrested Cargo in Admiralty Suit for Demurrage Claim. Demurrage Claim Under Voyage Charterparty is a Claim in Respect of Goods Under Section 4(1)(f) of Admiralty Act, 2017, and Arrest of Cargo is Permissible Even if Not on Board.

The Plaintiff, Pacific Gulf Shipping (Singapore) Pte. Ltd., a Singapore-based company engaged in vessel chartering, filed an admiralty suit against De...

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Bombay High Court Allows Appeal in Admiralty Bunkers Arrest Case. Bunkers on board a ship can be arrested and sold separately under admiralty jurisdiction as they are not part of the ship.

The appellant, Mansel Limited, a Bermuda company engaged in chartering vessels, filed an admiralty suit seeking arrest of bunkers on board the vessel ...

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Bombay High Court Allows Writ Petition Challenging Denial of Promotion Benefits to Class III Employee. Petitioner appointed as Class IV employee and later promoted to Class III entitled to salary and benefits of higher post from date of promotion.

The petitioner, Satish Shahaji Fand, was initially appointed as a Class IV employee (Parichar) with the Zilla Parishad, Osmanabad. Subsequently, he wa...

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Bombay High Court Allows Writ Petition Challenging SARFAESI Act Possession Notice — Bank Directed to Consider One-Time Settlement Offer. Failure to Consider OTS Proposal Before Taking Possession Violates Principles of Fairness and Natural Justice Under Section 13(2) of SARFAESI Act, 2002.

The petitioner, Surendra Nikose, had availed a housing loan from the State Bank of India (respondent). Due to financial difficulties, he defaulted on ...

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Bombay High Court Allows Employer's Petition Challenging Reinstatement Order — Employee Abandoned Service by Taking Up Employment Abroad Without Intimation. Clause 13.4 of Certified Standing Orders Validly Invoked to Terminate Employment for Abandonment of Service Under Industrial Disputes Act, 1947.

The Petitioner, Infomedia India Ltd., engaged the First Respondent as a machine operator at its printing establishment in Mumbai. On 22 June 1992, the...