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Bombay High Court Dismisses Appeals of Retired Employees Against Cooperative Bank's SARFAESI Recovery Proceedings. Employees Held Not to Be 'Borrowers' and Lack Locus Standi to Challenge Auction Sale Without Payment of Dues.

The judgment pertains to a batch of Letters Patent Appeals filed by retired employees of Shamrao Vithal Cooperative Bank Ltd. against the dismissal of...

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Supreme Court Dismisses Municipal Corporation's Appeal Against Resolution Plan Approval in Insolvency Case. Municipal Corporation's Prior Consent to Resolution Plan Precludes Later Objections Under IBC.

The Municipal Corporation of Greater Mumbai (MCGM) appealed against the order of the National Company Law Appellate Tribunal (NCLAT) which had upheld ...

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Bombay High Court Considers Winding Up Petition Under the Companies Act, 1956, on Grounds of Loss of Substratum and Insolvency Due to Quashing of 2G Licenses; Final Disposition Not Extracted. Allegations of Dysfunctional Board and Insolvency Form Basis of Just and Equitable Winding Up Claim.

This Company Petition was filed by Etisalat Mauritius Ltd. (Petitioner), a wholly owned subsidiary of Emirates Telecommunications Corporation, seeking...

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Bombay High Court Quashes Criminal Proceedings Against Co-opted Director in Bank Fraud Case Due to Lack of Evidence. Petitioner, a medical practitioner co-opted as director of a cooperative bank, was not named in charge-sheets and no material showed her involvement in alleged misappropriation.

The petitioner, a medical practitioner, was co-opted as a director of Samta Sahakari Bank Ltd., a cooperative society running banking business, from 1...

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Supreme Court Allows Appeal of Highest Bidder in Excise Case; Holds Cancellation of Sale Invalid and Directs Grant of Licences. Interpretation of Rule 19 of Mysore Excise Rules: Requirements of Statement and Security Inapplicable When Shops in Multiple Tehsils, and 'At Once' Means Reasonable Time.

In an appeal before the Supreme Court of India, the appellant, who was the highest bidder for the exclusive privilege of retail vend of toddy and arra...