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Supreme Court Allows Appeal in IBC Section 7 Application — Cumulative Redeemable Preference Shares Held as Debt, Not Investment. The Court held that CRPS constitute a debt under Section 3(11) of IBC, 2016, and the appellant is a financial creditor entitled to file an application under Section 7.

The appeal arises from the dismissal of the appellant's application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the NCLT and ...

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High Court of Judicature at Bombay Delivers Oral Judgment in Section 9 Arbitration Petition Involving Concession Agreement for Restaurant Operation. Dispute Pertains to Interim Measures Sought in Connection with a Seven-Year Concession Agreement for a Restaurant at Juhu Airport.

The High Court of Judicature at Bombay heard an arbitration petition under Section 9 of the Arbitration and Conciliation Act, 1996, filed by M/s. Surv...

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Supreme Court Allows Plaintiff's Claim for Possession in Property Dispute Based on Title and Rejects Adverse Possession Defense. Licensee's Possession Cannot Be Converted into Adverse Possession Without Clear Evidence of Ouster.

The dispute pertained to a suit property in Bangalore. The original plaintiff, A. Krishnappa, claimed ownership of the property as joint family proper...

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Supreme Court Allows State Appeal in Leasehold Conversion Case: Conversion Charges Payable at Rate Prevalent on Date of Decision, Not Application. The Court held that an applicant must comply with policy conditions and no vested right arises on mere application under the Government Grants Act, 1895.

The State of Odisha appealed against a High Court judgment directing computation of conversion charges for leasehold to freehold at rates prevalent on...

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Bombay High Court Upholds Decree for Restoration of Possession Under Section 6 of Specific Relief Act, 1963 — Trial Court's Finding on Ownership Held Without Jurisdiction. Court sets aside finding on ownership but confirms decree as plaintiffs proved prior possession and wrongful dispossession.

The case involves a Civil Revision Application filed by the original defendant against a decree passed by the learned Joint Civil Judge, Senior Divisi...

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Bombay High Court Dismisses Petitions Challenging Land Acquisition for Public Purpose Under Land Acquisition Act, 1894 — Held That Acquisition for Housing and Rationing Offices Serves Public Purpose and Compensation Determined Under Act Is Adequate.

The judgment pertains to two writ petitions filed by Reliance Industries Ltd. and Express Newspapers Ltd. challenging the acquisition of their land by...

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Bombay High Court Dismisses Developer's Suit for Specific Performance Against Cooperative Housing Society and Members Due to Lack of Privity and Authority. The court held that a cooperative society cannot bind its members to a development agreement without their consent, and the suit was not maintainable.

The plaintiff, Vardhman Developers Ltd., filed a suit for specific performance of a development agreement against Borla Co-operative Housing Society L...