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Bombay High Court Dismisses Writ Petition Challenging RBI Circular on Resolution of Stressed Assets. Circular dated 12.02.2018 held to be valid and within RBI's powers under Sections 35A and 35AB of the Banking Regulation Act, 1949.

The petitioners, Jayaswal Neco Industries Limited and Jayaswal Holdings Private Limited, filed a writ petition under Article 226 of the Constitution o...

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Supreme Court Dismisses Bank's Appeal Against National Textile Corporation in Pre-Nationalisation Dues Dispute. Claims for pre-nationalisation period cannot be enforced against the successor entity under the Textile Undertakings (Nationalisation) Act, 1995.

The dispute arose from credit facilities extended by UCO Bank (appellant) to Shree Sitaram Mills Ltd., which was taken over by the National Textile Co...

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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 Dismisses Bank's Petition Challenging Arbitral Award in Counter Guarantee Dispute. Claim Barred by Limitation and Failure to Prove Invocation of Guarantee.

The petitioner, Punjab and Maharashtra Co-op. Bank Ltd., filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging ...