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Bombay High Court Allows Retired Employees to Continue as Members of Salary Earners' Credit Co-operative Society and Retain Voting Rights. Retirement does not automatically terminate membership unless bye-laws provide otherwise.

The case involves five retired employees of the Irrigation Department of the Government of Maharashtra who were members of Sinchan Karmachari Sahkari ...

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Bombay High Court Upholds DRAT Order Allowing One Time Settlement in Debt Recovery Case — Interest Must Be Calculated as Per OTS Terms. The court held that the DRT erred in not giving effect to the OTS and in calculating interest beyond the OTS terms, and the DRAT correctly set aside the DRT order.

The petitioners, Small Industries Development Bank of India (SIDBI) and India SME Asset Reconstruction Company Ltd., challenged an order dated 26th Ma...

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Madras High Court Allows Appeal in RERA Case for Delay in Possession — Promoter Liable for Interest Under Section 18 of RERA Act, 2016. The court restored the order of TN RERA directing the promoter to pay interest for delay in handing over possession of flat and club house facilities.

The appellant, a retired General Manager of Bharat Petroleum Corporation Limited, entered into a Memorandum of Agreement on 30.07.2011 with the respon...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Disallowance of Interest Case. Tribunal's finding that assessee had sufficient interest-free funds for investments upheld, and S.A. Builders precedent on business purpose for advances to sister concerns applied.

The case involves an appeal by the Revenue under Section 260A of the Income Tax Act, 1961, against an order of the Income Tax Appellate Tribunal dated...

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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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NCLAT Allows Section 7 Petition in Insolvency Case Due to Acknowledgment of Debt in Balance Sheets and Emails. Repeated acknowledgment of debt by Corporate Debtor in balance sheets and emails extends limitation period under Section 18 of Limitation Act, 1963, saving the petition from being time-barred.

The case involves an appeal filed by Akzo Nobel India Ltd. (Financial Creditor) against Stan Cars Pvt. Ltd. (Corporate Debtor) under Section 61 of the...