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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

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Bombay High Court Grants Summary Judgment in Favor of Plaintiff in Loan Recovery Suit Based on Written Contracts and TDS Certificate. Loan advanced under written agreements and TDS certificate issued by defendant establishes debt; defendant's defence of no written contract rejected as moonshine.

The plaintiff, Mohandas I. Chatlani, filed a summary suit against the defendant, Varad L. Ullal, for recovery of Rs.72,68,750/- with interest. The sui...

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Bombay High Court Sets Aside Insolvency Notice Based on Foreign Judgment — Notice Held Without Jurisdiction as Debt Not Payable Under Indian Insolvency Act. Foreign judgment debt not enforceable under Presidency Towns Insolvency Act, 1909 without satisfying conditions of Section 13 CPC.

The case involves a Notice of Motion filed by the Judgment Debtor, Neville Tuli, seeking to set aside an Insolvency Notice No. N/28 of 2011 issued by ...

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High Court of Karnataka Quashes FIR in Cheating Case Due to Civil Nature of Dispute and Lack of Criminal Intent. Dispute over unpaid loan and property transfer held to be purely contractual, not constituting criminal breach of trust or cheating under Section 420 IPC.

The petitioners, Sourish Bose and Deepanvita Ghosh, filed a criminal petition under Section 482 of the Code of Criminal Procedure, 1973 (CrPC) and Sec...

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High Court of Karnataka Quashes FIR in Cheating Case Due to Civil Nature of Dispute and Lack of Criminal Intent. Dispute over property sale agreement held to be purely contractual, not constituting criminal offence under Section 420 IPC.

The petitioners, Sourish Bose and Deepanvita Ghosh, filed a criminal petition under Section 482 of the Code of Criminal Procedure, 1973 (CrPC) and Sec...

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Madras High Court Allows Refund of Deposit Conditioned on Travel Abroad After Cancellation of Travel. Conditional deposit for travel abroad must be refunded when travel is cancelled, as the purpose of the deposit ceases.

The appellant, Lakshmi Murugesan, filed a writ petition (WP No. 922 of 2024) in which several allegations were raised between the parties. She propose...

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Bombay High Court Allows PIL Against APMC for Illegal Construction Without Development Permission Under MRTP Act. Agricultural Produce Marketing Committee Not a Local Authority Under Section 2(15) of MRTP Act, Hence Not Exempt from Section 44.

This Public Interest Litigation was filed by Goroba Pandurang Gadekar against the State of Maharashtra, Latur Municipal Corporation, Agricultural Prod...