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Bombay High Court Disposes of Four Petitions Under Section 9 of Arbitration Act by Common Order. Interim Measures Sought by Financing Company Against Borrower and Guarantor for Default in Loan Repayments Secured by Hypothecated Equipment.

L&T Finance Limited, a company registered under the Companies Act, 1956, filed four petitions under Section 9 of the Arbitration and Conciliation Act,...

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Bombay High Court Quashes Section 420/511 IPC Charges in Money Lending Case Due to Absence of Deception. Default in Loan Repayment Does Not Constitute Cheating Under IPC When Initial Intention to Repay Existed.

The petitioner, Ramesh Babulal Chaudhari, filed a Criminal Writ Petition before the Bombay High Court (Aurangabad Bench) seeking quashing of FIR No. 3...

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High Court of Bombay Grants Unconditional Leave to Defend in Summary Suit Involving Promissory Note. Defendant Entitled to Leave as Suit Governed by Bombay Money Lenders Act, 1946 and Triable Issues Raised.

The plaintiff, a money lender, filed a summary suit under Order XXXVII of the Code of Civil Procedure, 1908 seeking recovery of Rs. 94,432.87 with int...

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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

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Bombay High Court Dismisses Appeal Against Acquittal in Cheque Bounce Case Due to Failure to Prove Debt and Notice. Complainant failed to establish financial capacity and valid demand notice under Section 138 of Negotiable Instruments Act, 1881.

The appellant, Ghanshyam D. Katira, was the original complainant in a complaint under Section 138 of the Negotiable Instruments Act, 1881 against the ...