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Bombay High Court Allows Winding Up Petition Against Varun Global Limited for Non-Payment of Loan Debt. Life Insurance Corporation of India Succeeds in Proving Company's Inability to Pay Debts Under Sections 433(e) and 434 of the Companies Act, 1956.

The petitioner, Life Insurance Corporation of India (LIC), filed a company petition under Sections 433(e) and 434 of the Companies Act, 1956, seeking ...

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Supreme Court Allows Appeal of SBI Consortium in Corporate Guarantee Dispute Under IBC. Corporate Guarantees Executed by Corporate Debtor Constitute Financial Debt Under Section 5(8) of IBC, 2016, and Are Enforceable Despite Timing and Stamping Objections.

The Supreme Court allowed the appeal filed by the Appellant Consortium against the order of the National Company Law Appellate Tribunal (NCLAT) which ...

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NCLAT Allows Withdrawal of Appeal in Insolvency Matter Due to Settlement Between Parties — No Further Orders Required. Appeal under Section 421 of Companies Act, 2013 disposed as withdrawn after appellant's counsel sought permission to withdraw.

The case involves an appeal filed by State Bank of India under Section 421 of the Companies Act, 2013, challenging an order dated 24.06.2019 passed by...

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High Court of Karnataka Allows Appeal in Credit Card Recovery Suit — Reduces Usurious Interest Rate of 2.5% per Month Compounded Monthly to 6% per Annum Simple. Contractual interest held unconscionable and against public policy under Section 34 CPC.

The appellant, B. Gopa Kumar, was a credit card holder of Canara Bank (respondent) and was issued a Cancard-Visa card in 1998. He defaulted on payment...

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High Court of Karnataka Considers Appeal Against Conviction for Murder Based on Circumstantial Evidence. Dying Declaration and Recovery from Accused form key evidence in determining guilt under Section 302 IPC.

The appeal arose from the conviction of Basavaraj Jagaluru for the murder of Jagadish Shiraguppi, a blind man from Gadag. On 23 May 2015, Police Inspe...

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Bombay High Court Quashes FIR Against Public Servants in Defamation Case for Lack of Sanction Under Section 199 CrPC. Private Complaint for Defamation Against Public Servant Requires Prior Sanction from Competent Authority.

The judgment pertains to four criminal applications filed by Vinod Sahebrao Pandhare, Santosh B. Somani, Bharat Dnyandeo Deogire, and Ashok Narayan Ga...

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Bombay High Court Grants Interim Relief Under Section 9 of Arbitration Act for Non-Issuance of Shares Despite Investment. Court Restrains Alienation of Property Released from Mortgage Using Petitioner's Funds Pending Arbitration.

The petitioner, Manmohan Kapani, a 90-year-old US resident, invested USD 1 million in Kapani Resorts Pvt. Ltd. under a Share Subscription and Sharehol...