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Bombay High Court Allows Appeal in Specific Performance Suit — Rejects Application for Rejection of Plaint Under Order VII Rule 11 CPC. Agreement for Sale Not Concluded Contract but Continuous Offer, Plaint Discloses Cause of Action.

The appellant, M/s. Everhome Properties Pvt. Ltd., filed a suit for specific performance of an agreement for sale dated 15.07.2019 against the respond...

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High Court of Karnataka Allows Canara Bank's Appeal Against Refund Order in SARFAESI Auction Dispute — Bank Not Obliged to Refund 25% Deposit When Auction Purchaser Defaults on Balance Payment.

The appellant, Canara Bank, conducted an e-auction on 29 November 2021 of a property under the Securitisation and Reconstruction of Financial Assets a...

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Supreme Court Allows Appeal in Part in Foreign Currency Arbitral Award Enforcement Case. Twin Principles Laid Down: Date of Enforceability for General Conversion, Date of Deposit for Amounts Deposited in Court.

The Supreme Court addressed the issue of the correct date for converting a foreign currency arbitral award into Indian rupees for enforcement. The app...

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Bombay High Court Allows Writ Petition for Return of Security Deposit in Tender Dispute - Bank Cannot Forfeit Deposit Without Express Contractual Term. Petitioner withdrew offer before acceptance; no concluded contract; Bank directed to refund Rs.25,00,000/- with interest.

The petitioner, M/s. Bholenath Trading Company, a partnership firm, submitted a tender in response to a tender notice dated 9.10.2004 issued by the re...

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Bombay High Court Dismisses Third Party Claim in Execution Proceedings — ING Bank N.V. Fails to Prove Ownership of Attached Flat. Claim under Section 47 CPC and Order XXI Rules 58 and 64 rejected as bank did not establish that the flat was not owned by judgment debtor.

The case involves a Chamber Summons taken out by ING Bank N.V., a third party, under Section 47 read with Order XXI Rules 58 and 64 of the Code of Civ...

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Bombay High Court Allows Arbitration Petition in Commercial Dispute — Appointment of Arbitrator Directed. Court holds that existence of arbitration clause and failure of respondent to appoint arbitrator entitles petitioner to seek appointment under Section 11 of the Arbitration and Conciliation Act, 1996.

The petitioner, Carol Info Services Ltd., filed a Commercial Arbitration Petition under Section 11 of the Arbitration and Conciliation Act, 1996, seek...