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Bombay High Court Dismisses Bank's Revision Against Trial Court's Jurisdiction Ruling in SARFAESI Act Suit. Civil Court Has Jurisdiction to Entertain Suit for Permanent Injunction Against Re-auction of Mortgaged Property Despite SARFAESI Act Provisions.

The respondent, original plaintiff, filed Regular Civil Suit No.1756 of 2014 seeking a permanent injunction restraining the applicant bank from re-auc...

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Bombay High Court Allows Cooperative Bank's Petition Against Setting Aside of Ex Parte Award Against Principal Borrower. Principal Borrower Cannot Participate in Proceedings Without Depositing Loan Amount.

The case involves two writ petitions filed by Rupee Cooperative Bank Limited against Vijaya Paints Pvt. Ltd. and others. The bank had obtained an ex p...

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Supreme Court Allows Banks to Deny Legal Representation in Wilful Defaulter Proceedings. In-House Committees of Banks Are Not Tribunals Under Section 30 of Advocates Act, 1961, and Right to Lawyer Is Not Part of Natural Justice.

The Supreme Court considered appeals against the Delhi High Court judgment which held that a borrower is entitled to be represented by a lawyer before...

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Supreme Court Affirms Guarantor's Independent Liability Despite Resolution Plan. Guarantor's obligations remain intact; assets of subsidiaries excluded from holding company’s resolution plans, creditor rights upheld

The Supreme Court of India affirmed that the approval of a resolution plan for a corporate guarantor does not absolve the principal borrower of its li...

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Supreme Court Allows Bank's Appeal Against NCDRC Order Holding Bank Liable for Insurance Claim. Borrower's Acceptance of SCDRC Order and One-Time Settlement with Bank Precludes Liability.

The Supreme Court allowed the appeal filed by the State Bank of India and another against the order of the National Consumer Disputes Redressal Commis...

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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...