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NCLAT Allows Appeal Against Admission of CIRP Due to Discharge of Debt Through One-Time Settlement. Financial Debt Found to Be Fully Satisfied Prior to Filing of Section 7 Application Under Insolvency and Bankruptcy Code, 2016.

The present appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Puneet Resutra, the erstwhile Director and Shar...

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Supreme Court of India Ruled on the Definition of ‘Consumer’ Under the Consumer Protection Act, 1986 in Loan Transactions

The Apex Court Held That a Borrower of a Project Loan Does Not Qualify as a ‘Consumer’ When the Loan is Availed for Commercial Purposes The Supre...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Co-operative Bank Loan Dispute. Court upholds award holding borrowers jointly and severally liable for Rs.9.88 crore with interest under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioners, Abid & Company Steels Private Limited and its directors, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1...

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Bombay High Court Grants Interim Injunction Restraining Bank from Enforcing Guarantee and Pledge Against Company Pending Company Law Board Proceedings. Alleged Fraudulent Assumption of Liability by Directors Without Shareholder Consent Raises Serious Questions to be Tried.

The applicant, Rajinder Kumar Malhotra, filed an application in a pending company appeal seeking an interim injunction to restrain HDFC Bank from reco...

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Supreme Court Dismisses Transfer Petition in Cheque Dishonour Case, Upholds Jurisdiction Under Section 142 of the Negotiable Instruments Act, 1881

Bank’s Right to Choose Jurisdiction for Cheque Dishonour Cases Upheld – Transfer Denied Under Section 406 of the Code of Criminal Procedure, 1973 ...

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Fraudulent Activities of Bank Officers and Private Businessmen Exposed : Unveiling the Deceptive Practices and Misuse of Bank Accounts

The Supreme Court dismissed two special leave petitions (SLPs) in the case of fraudulent transactions involving bank officials and private businessmen...