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Bombay High Court Grants Conditional Leave to Defend in Summary Suit for Recovery of Loan — Triable Issues Raised Regarding Limitation and Acknowledgment of Debt. Defendant's Application for Leave to Defend Allowed Subject to Deposit of 50% of Suit Amount Under Order XXXVII Rule 3(5) of CPC, 1908.

The plaintiffs, Carl Pinto De Andrade and others, filed a Commercial Summary Suit against Ventura Securities Limited for recovery of Rs. 1,00,00,000/-...

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Bombay High Court Quashes Ban Order Against Contractor in ONGC Project Delay Dispute — Violation of Natural Justice. Internal Enquiry Report Not Shared With Contractor Before Imposing Business Ban, Rendering Order Arbitrary and Unreasonable.

The petitioner, Sarku Engineering Services SDN BHD, a Malaysian company, challenged an order dated 4 January 2016 issued by respondent No.2, Oil and N...

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Bombay High Court Allows Writ Petition Challenging CBEC Office Memorandum on Cenvat Credit Reversal in DFIA Cases — Reversal of Credit with Interest Before Clearance of Export Goods Does Not Constitute Availment of Credit Under Paragraph 4.2.6 of Foreign Trade Policy 2009-2014.

The petitioner, Steelco Gujarat Limited, a public limited company engaged in manufacturing, obtained a Duty Free Import Authorisation (DFIA) dated 29t...

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Bombay High Court Dismisses Appeal Seeking Confirmation of Share Transfer in Wound-Up Company Due to Inordinate Delay and Lack of Evidence. Section 536(2) of Companies Act, 1956 requires timely application and proof of bona fide transfer before winding up order.

The appellant, Rathnam P.V., filed an appeal against the order of the Company Judge dismissing his application under Section 536(2) of the Companies A...

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Bombay High Court Partially Allows Challenge to Arbitral Award in Contract Dispute — Liquidated Damages and Interest Reduced. Court upholds arbitrator's finding on delay but modifies interest rate from 7% to 6% per annum under Section 34 of the Arbitration and Conciliation Act, 1996.

The case involves a challenge under Section 34 of the Arbitration and Conciliation Act, 1996, by Indian Oil Corporation Limited (petitioner) against a...