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Bombay High Court Dismisses Appeal Against Interim Attachment of Bank Accounts in Arbitration Dispute. Section 37 Appeal Under Arbitration and Conciliation Act, 1996 Fails as Petitioner Failed to Demonstrate Prima Facie Case or Irreparable Loss.

The petitioner, Ajazul Haque Khan, filed a petition under Section 37 of the Arbitration and Conciliation Act, 1996, challenging an order dated January...

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Bombay High Court Dismisses Petitions Challenging SARFAESI Act Applicability to Cooperative Banks and Arbitration Awards. Multi-State Cooperative Bank held to be a 'bank' under SARFAESI Act, and arbitration under Multi-State Cooperative Societies Act does not bar subsequent SARFAESI proceedings.

The judgment concerns three writ petitions filed by borrowers challenging actions taken by Abhyudaya Co-operative Bank Ltd. and Piramal Capital and Ho...

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Bombay High Court Quashes FIR Against Bank and Employees in Loan Dispute — Dispute Held Purely Civil, No Prima Facie Case of Cheating or Criminal Breach of Trust. Allegations of Forgery and Use of Forged Documents Also Not Made Out, FIR Quashed Under Section 482 CrPC.

The judgment arises from two writ petitions filed by ICICI Bank Ltd., its employees (Zarin Daruwala, Girish Nayak, Arati Ramakrishnan, Vipul Parmar, K...

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Bombay High Court Dismisses Appeal Against Rejection of Interim Relief in SARFAESI Act Case — Civil Suit Held Not Maintainable Due to Bar Under Section 34 of SARFAESI Act. Borrowers Must Avail Remedy Under Section 17 Before DRT Instead of Seeking Injunction in Civil Court.

The case involves an appeal filed by the appellants, who are borrowers and guarantors, against an order of the Commercial Division of the Bombay High ...

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Bombay High Court Allows SICOM's Petition Against Guarantors Under Section 31(1)(aa) of SFC Act for Recovery of Loan Default. Guarantors Held Liable Under Unconditional Guarantee Deed for Repayment of Term Loan.

The petitioner, SICOM Limited, a deemed State Financial Corporation under Section 46 of the State Financial Corporation Act, 1951, filed a petition un...