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Bombay High Court Considers Whether Minutes of Meeting Converted Force Majeure Clause into Assured Return Mechanism, Interpreting Clauses 3.4.19 and 3.7.2 of Construction Agreement. Appeal Challenges Arbitral Interpretation That State Must Compensate for Any Toll Collection Drop Exceeding 20%.

The appeal under Section 37 of the Arbitration and Conciliation Act, 1996 arose from a dispute concerning a build-operate-transfer (BOT) contract for ...

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Bombay High Court Directs Deposit of Balance Bid Amount in Auction Sale of Company in Liquidation. Official Liquidator's Report for Confirmation of Sale of Properties of M/s. Akola Oil Industries Ltd. - Bidders Required to Deposit Balance Amount Within 15 Days.

The Official Liquidator appointed over M/s. Akola Oil Industries Ltd. (in liquidation) filed reports seeking confirmation of auction sales held on 9-1...

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Supreme Court Dismisses Bank's Appeal in SARFAESI Auction Dispute — Auction Purchaser Not in Default. Delay in Payment Attributable to Bank's Own Actions and External Factors, Not Purchaser's Fault Under Rule 9(4) of Security Interest (Enforcement) Rules, 2002.

The appellant, IDBI Bank, conducted an e-auction on 10.04.2018 for a property comprising 2 guntas of land in Telangana. The respondents were the highe...

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Bombay High Court Allows Official Liquidator's Report in Winding Up of Transpower Engineering Ltd. — Holds Sale by Liquidator is Formal Transfer Not Subject to Differential Premium. Court exercises powers under Section 446(2) of Companies Act, 1956 to waive extension charges claimed by MIDC.

The Official Liquidator filed a report seeking directions regarding the sale of two industrial plots allotted by MIDC to Transpower Engineering Ltd. (...

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High Court of Bombay at Nagpur Quashes Rejection of Techno-Commercial Bid in Tender Matter — Petitioner's Bid Rejected Due to Encumbrance on Leased Land, Court Finds Rejection Arbitrary and Directs Reconsideration

The petitioner, Tara Chand Infralogistic Solutions Limited, challenged the rejection of its techno-commercial bid submitted in response to a Notice In...

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Bombay High Court Examines Writ Petition Challenging Rejection of Technical Bid in Smart LED Street Lighting Tender. Court Notes Settled Principle that Judicial Review in Tender Matters is Limited to Public Interest and Malafide, and Examines Turnover Eligibility Criteria Under Tender Clause.

The matter concerned a writ petition under Article 226 of the Constitution of India filed before the Bombay High Court by a public limited company aga...