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High Court Appoints Arbitrator and Grants Interim Relief in Loan Default Case Under Arbitration and SARFAESI Acts. Applicant Secures Protection for Mortgaged Property in Dispute with Respondents

The High Court of Bombay heard two connected applications filed by Tata Capital Housing Finance Limited against Inderjeet Sahni and others. The first ...

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Supreme Court Dismisses Appeals of Generating Company and State Utility in Electricity Tariff Dispute. Deemed Generation Incentive Not Payable After 1995 Notification; Supplementary Agreement Bars Retrospective Interest on Deemed Loan.

The Supreme Court dismissed two appeals arising from a common order of the Appellate Tribunal for Electricity (APTEL) concerning a power purchase agre...

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Bombay High Court Allows Pune Municipal Corporation's Appeal Against Money Decree for Consultancy Fees — Contractual Interpretation of 'Sanction of Loan' Determines Entitlement

The Pune Municipal Corporation appealed against a money decree of Rs.7,08,50,000/- with interest passed by the Small Causes Court, Pune, in favor of P...

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Bombay High Court Adjudicates Arbitration Petition Under Section 34 of the Arbitration and Conciliation Act, 1996 Challenging Awards Passed in Hire Purchase Dispute. The Court Examines Objections Relating to Stamp Duty, Admissibility of Documents, and Jurisdiction of the Arbitrator.

The dispute stemmed from a Hire Purchase Agreement dated 24 April 1995 between the petitioners and the respondent for eight Honda Accord cars, accompa...

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Karnataka High Court Allows Appeal in Recovery Suit, Reduces Interest Rate from 23% to 6% p.a. for Money Lending Transactions. Court Held That Charging 23% Interest Was Unconscionable and Excessive Under Section 34 CPC, and Reduced It to 6% p.a. Simple Interest.

The plaintiff, G.R. Shet, proprietor of M/s Shet & Co., filed a suit for recovery of money against M/s Bawa Enterprises (a partnership firm) and its p...

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Special Court Convicts Broker and Beneficiaries in BMC Bank Securities Fraud; Acquits Employees and Other Brokers. Broker Held Liable for Dishonest Receipt of Stolen Property Under Section 411 IPC, While Beneficiaries Convicted of Cheating Under Section 420 IPC.

The case involved a criminal trial before the Special Court under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 19...