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Bombay High Court Allows Second Appeal in Partition Suit — Sales by Karta Not Binding on Coparceners. Court holds that alienation of joint family property by a karta without legal necessity or benefit to estate does not bind other coparceners under Hindu law.

The case involves a second appeal filed by the original defendant No.1 against the judgment of the appellate court in a partition suit. The plaintiffs...

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Supreme Court Allows Appeal in MPID Act Deposit Dispute — High Court Erred in Treating Investment as Loan Transaction. The court held that amounts advanced with promise of interest constitute 'deposit' under Section 2(c) of MPID Act, and failure to repay amounts to 'fraudulent default' under Section 3.

The present appeal arises from a judgment of the Bombay High Court dismissing the appellants' Criminal Revision Application under the MPID Act. The ap...

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Bombay High Court Allows Writ Petition Challenging Auction Sale Confirmation in Cooperative Bank Recovery Proceedings. Vested Right in Auction Purchaser Not Accrued Until Sale Confirmation by Competent Authority Under Maharashtra Cooperative Societies Act, 1960.

The petitioner, Aniruddha Sadashiv Pande, a journalist from Yavatmal, had taken a loan from the Yavatmal Urban Cooperative Bank Ltd. (respondent no.3)...

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Bombay High Court Examines Validity of Deemed Membership under Maharashtra Cooperative Societies Act. Transfer of Leasehold Plot through Auction Challenged as Violative of Society Byelaws and Lease Deed Conditions.

The Writ Petition arises from a dispute concerning deemed membership in a cooperative housing society. The petitioner, The Sopan Baug Cooperative Hous...

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Bombay High Court Grants Leave to Defend in Summary Suit for Recovery of Loan — Defendant Raises Triable Issue Regarding Nature of Transaction as Payment for Machinery, Not Loan.

The plaintiff, Anjali Sales Corporation, filed a Summary Suit under Order XXXVII Rule 2 of the Code of Civil Procedure, 1908 (CPC) seeking a decree fo...

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Bombay High Court Allows SICOM Limited's Petition Under Section 31(1)(aa) of SFC Act for Recovery of Loan Against Guarantors. Court holds that guarantors are jointly and severally liable for the debt of the principal borrower company.

The petitioner, SICOM Limited, a financial institution under the State Financial Corporation Act, 1951, filed a petition under Section 31(1)(aa) of th...

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High Court of Karnataka Acquits Accused in Cheque Bounce Case Due to Failure to Prove Legally Enforceable Debt. Dishonour of Cheque Under Section 138 of Negotiable Instruments Act, 1881 Not Attracted as Complainant Failed to Establish Legally Enforceable Debt or Liability.

The case arises from a criminal revision petition filed by the accused, S.S. Ramesh, challenging his conviction under Section 138 of the Negotiable In...