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High Court of Bombay Dismisses Interim Application, Holds Limitation and Due Diligence as Key Issues in Share Recovery Suit. Summary Judgment Denied in Share Dispute Due to Limitation and Need for Oral Evidence

Summary Judgment under Order XIII-A of the CPC: The Court held that a summary judgment can only be granted if the Defendant has no real prospect of d...

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Bombay High Court Sanctions Scheme of Amalgamation of Monarch Research and Brokerage Private Limited and Monarch Project and Finmarkets Limited with Networth Stock Broking Limited under Sections 391-394 of the Companies Act, 1956 — Objection by Gold Castle Realtor Dismissed as Not a Creditor or Member.

The judgment concerns two Company Scheme Petitions (CSP 575/2012 and CSP 576/2012) filed by Monarch Project and Finmarkets Limited (2nd Transferor Com...

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Madras High Court Dismisses Bank's Challenge to Sales Tax Recovery, Holds Crown Debt Prevails Over Bank's Lien. Priority of State's statutory dues under Section 26 of Tamil Nadu General Sales Tax Act, 1959 over bank's contractual lien on fixed deposits is upheld.

The petitioner, Oriental Bank of Commerce, a public sector bank, had extended credit facilities including packing credit and overdraft to the third re...

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Bombay High Court Quashes Criminal Complaint in Cheque Dishonour Case Due to Lack of Territorial Jurisdiction. The cheque was presented and dishonoured at a branch outside the court's jurisdiction, making the complaint under Section 138 of the Negotiable Instruments Act, 1881 not maintainable.

The applicant, Barakara Abdul Aziz, filed a criminal application under Section 482 of the Code of Criminal Procedure, 1973, seeking to quash Criminal ...

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Bombay High Court Allows Winding Up of S. Kumars Nationwide Ltd. for Inability to Pay Debts. Multiple financial creditors and operational creditors successfully proved the company's insolvency under Sections 433(e) and 434 of the Companies Act, 1956.

The judgment concerns a batch of company petitions filed by various financial creditors and operational creditors seeking the winding up of S. Kumars ...

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Bombay High Court Quashes Criminal Proceedings in Bank Fraud Case Due to Lack of Territorial Jurisdiction. Offences Allegedly Committed in Dubai Cannot Be Tried in Ahmednagar Without Sanction Under Section 188 CrPC.

The petitioners, Kishore Devji Sagar and Pravinchandra Devji Sagar, were original accused in RTC No. 165 of 2003 pending before the Chief Judicial Mag...

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High Court of Karnataka Allows Appeal in Commercial Dispute Over Arbitral Award Set Aside by Commercial Court. Court Restores Arbitral Award Holding That the Commercial Court Exceeded Its Jurisdiction Under Section 34 of the Arbitration and Conciliation Act, 1996 by Reappreciating Evidence.

The case involves a commercial dispute between Navayuga Engineering Company (appellant) and Bangalore Metro Rail Corporation Limited along with other ...