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High Court Dismisses Appeal Against Winding-Up Order in Bond Default Case; Upholds Adverse Remarks Against Directors for Fund Diversion. Company Found Unable to Pay Debts and Substratum Lost, Justifying Winding Up Under Sections 433(e) and 433(f) of Companies Act, 1956.

The appeal arose from a winding-up order passed by the learned company Judge against Zenith Infotech Limited (the appellant) in a petition filed by Th...

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Bombay High Court Upholds Admission of Winding-Up Petition Against Telecom Company Due to Substratum Erosion and Deadlock. Cancellation of 2G Licences and Irreconcilable Differences Between Equal Shareholders Justify Winding-Up Under Section 433(f) of the Companies Act, 1956.

The appeal arose from an order of the company judge admitting a petition for winding up of Etisalat D.B. Telecom Limited (the company) under Section 4...

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Supreme Court Allows Summary Judgment in Recovery Suit Against DDA for Refund of Sale Consideration After Land Acquisition Lapses. The Court held that DDA cannot retain the money after failing to convey title due to lapsing of acquisition, and the suit was within limitation.

The Supreme Court allowed the appeal against the Delhi High Court's order dismissing the appellant's application for summary judgment under Order XIII...

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Bombay High Court Allows Bank's Writ Petition Against Trial Court's Order Framing Issues in Execution Proceedings - Sale Certificate Valid Despite Delay in Possession. The Court held that objections to execution were barred by res judicata and the Executing Court could not re-open settled issues.

The Ratnakar Bank Limited (Petitioner) filed a writ petition challenging an order dated 19/08/2014 passed by the learned Civil Judge, Junior Division,...

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Supreme Court Allows Union of India's Appeal in Customs Duty Priority Dispute. Customs duty under Section 150(2)(c) of Customs Act, 1962 has priority over warehouse charges under Section 150(2)(d) in distribution of sale proceeds of warehoused goods.

The case involves a dispute between the Union of India (appellant) and M/s. Associated Container Terminal Ltd. (respondent) regarding the priority of ...

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High Court of Karnataka Quashes Cognizance Order Against Bank Officials in Cheating Case Due to Lack of Sanction Under Section 197 CrPC. Criminal proceedings against retired bank managers for alleged forgery and cheating quashed as their acts were in discharge of official duties requiring prior sanction.

The judgment pertains to two criminal petitions filed under Section 482 of the Code of Criminal Procedure, 1973 (CrPC) seeking quashing of the order d...

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High Court of Karnataka Quashes Cognizance Order Against Bank Officials in Cheating Case Due to Lack of Prima Facie Evidence of Dishonest Intent. Allegations of Criminal Conspiracy and Forgery Against Retired Bank Managers Dismissed as Civil Dispute Over Loan Sanction.

The judgment pertains to two criminal petitions filed under Section 482 of the Code of Criminal Procedure, 1973, seeking quashing of the order dated 2...