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High Court of Karnataka Allows Appeal in Promissory Note Recovery Suit — Appellate Court's Reversal of Trial Court's Dismissal Upheld. Defendant's Denial of Execution and Signature on Promissory Note Found Unsubstantiated; Presumption Under Section 118 of Negotiable Instruments Act, 1881 Applied.

The plaintiff-respondent filed a suit for recovery of Rs. 1,13,520/- based on a demand promissory note executed by the defendant-appellant on 03.04.20...

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Bombay High Court Adjudicates Section 34 Petition Against Arbitral Award on Termination and Repudiation of Master Asset Purchase Agreement. Arbitrator's Finding of Repudiation by Purchaser and Direction for Refund of Consideration under MAPA Considered.

The dispute arose from a Master Asset Purchase Agreement (MAPA) dated 31st March 2005 between Siddhivinayak Realties Pvt. Ltd. as purchaser and V Hote...

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Bombay High Court Dismisses Winding Up Petition Against Hubtown Ltd. Based on Bona Fide Dispute of Debt. Corporate Guarantee Enforcement Requires Prima Facie Case of Default and Absence of Substantial Dispute Under Section 433(e) of Companies Act, 1956.

The petitioner, IDBI Trusteeship Services Ltd., filed a company petition under Section 433(e) of the Companies Act, 1956 seeking winding up of Hubtown...

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Bombay High Court Disposes of Section 9 Petition in Housing Society-Developer Arbitration Amidst Numerous Interim Applications. Interim Measures Including Attachment of Assets and Deposit of Over Rs. 11 Crores Ordered Earlier Under Section 9 of Arbitration Act.

The case involved a commercial arbitration petition filed under Section 9 of the Arbitration and Conciliation Act, 1996, along with thirty-one interim...

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Supreme Court Upholds Enhanced Share Valuation, Awards Interest at 6% Pre-Decree and 9% Post-Decree in Decades-Old Dispute. Balancing Equity and Commercial Realities: SC Modifies Interest Rates in Rajasthan State Mines Share Acquisition Case

Valuation of Shares – The Supreme Court affirmed the High Court’s valuation of shares at ₹640 per share, rejecting the State’s objections. Th...

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High Court of Karnataka Acquits Accused in Cheque Bounce Case Due to Failure to Prove Legally Enforceable Debt. Dishonour of Cheque Under Section 138 of Negotiable Instruments Act, 1881 — Presumption Under Section 139 Rebutted by Accused Showing Loan Not Advanced.

The case involves a criminal revision petition filed by the accused, Jagadish R, challenging his conviction under Section 138 of the Negotiable Instru...

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Bombay High Court Adjudicates Applications for Appointment of Arbitrator under Section 11 of Arbitration and Conciliation Act, 1996 in Partnership Dispute. The Court considered whether to appoint a sole arbitrator for disputes arising from a partnership deed containing multiple arbitration clauses.

The applicants, Prakash Cotton Mills Pvt. Ltd. and Bharat Barrel And Drum Manufacturing Company Pvt. Ltd., filed two arbitration applications under Se...