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Bombay High Court Allows SFC Petition Against Guarantors Under Section 31(1)(aa) of SFC Act, 1951 — Guarantors Liable Despite Company's Winding Up. Guarantee is a separate contract and liability of guarantor is co-extensive with principal debtor under Section 128 of Indian Contract Act, 1872.

The petitioner, SICOM Limited, a State Financial Corporation, filed a petition under Section 31(1)(aa) of the State Financial Corporation Act, 1951 ag...

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Supreme Court Allows Appeal in Arbitration Appointment Case — Withdrawal of Section 11 Petition Does Not Bar Fresh Application Under IBC. Order 23 Rule 1 CPC Not Applicable to Arbitration Petitions; Section 9 IBC and Section 11 Arbitration Act Seek Different Reliefs.

The Supreme Court allowed the appeal filed by M/s HPCL Bio-Fuels Ltd. against the judgment of the Bombay High Court which had appointed a sole arbitra...

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High Court of Karnataka Quashes Stamp Duty Demand on Arbitral Award Passed Outside State — Stamp Duty Payable Only Where Award is Made Under Section 3 of Karnataka Stamp Act, 1957. Arbitral Award Made in Mumbai Not Subject to Karnataka Stamp Duty When Sought to be Executed in Karnataka.

The petitioner, Mahindra & Mahindra Financial Services Ltd, a financial institution, entered into a loan agreement with respondents No. 1 and 2. The a...

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Karnataka High Court Hears Appeal Against Trial Court Decree Declaring Oral and Registered Gift Deeds Void in Partition Suit. Trial Court Had Found That Widow Did Not Acquire Absolute Title Under Section 14(1) of Hindu Succession Act, 1956, and Gift by Her Was Not Binding on Other Legal Heirs.

This Regular First Appeal arises from a partition suit filed by the legal heirs of late Anandarao Jadhav against the legal representatives of his brot...

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High Court of Karnataka at Bengaluru Adjudicates Lapsing of Land Acquisition for BDA Scheme; Examines Applicability of Section 24(2) of 2013 Act and Section 27 of BDA Act

The High Court of Karnataka at Bengaluru was seized of multiple writ petitions concerning land bearing Sy.No.103 of Nagarabhavi Village, measuring fou...