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High Court of Karnataka Quashes FIR Against Company and Directors in Prevention of Corruption Act Case Due to Lack of CBI Jurisdiction. Registration of FIR Without Involvement of Public Servant and Based on RBI Master Circular Held Without Authority, and Section 120B IPC Cannot Apply Standalone.

The case involved Associate Lumbers Private Limited and its directors, who had availed loan facilities from Corporation Bank (later Union Bank of Indi...

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Supreme Court Allows Banks' Appeals in RBI Fraud Classification Case Regarding Natural Justice Requirements. Court Holds No Absolute Right to Personal Hearing or Full Forensic Audit Report Disclosure Under RBI Master Directions Issued Under Section 35A Banking Regulation Act, 1949.

The dispute arose from the classification of loan accounts as 'fraud' by banks under the Reserve Bank of India's Master Directions. The appellant bank...

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Supreme Court Dismisses Appeal Challenging Sanction and Cognizance in UAPA Case — No Infirmity Found in Sanction Order or Cognizance Order. Court upholds validity of suo-motu sanction under Section 45(2) of UAPA and cognizance order under Section 120B IPC read with UAPA and CLA Act.

The Supreme Court dismissed the appeal filed by Fuleshwar Gope challenging the judgment of the Jharkhand High Court which refused to quash the sanctio...

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Bombay High Court Dismisses PIL Seeking Investigation into MLA's Assets for Lack of Credible Material. Court holds that mere allegations of disproportionate assets without prima facie evidence cannot justify investigation under Prevention of Corruption Act, 1988.

The petitioner, Sanjay Dinanath Tiwari, filed a Public Interest Litigation in the Bombay High Court seeking investigation into the financial affairs o...

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Bombay High Court Allows Writ Petition by Debenture Trustee Seeking Enforcement of Security Interest Against Developer and Its Directors Under SARFAESI Act — Held That Trustee Is a 'Secured Creditor' Entitled to Take Possession of Mortgaged Property Despite Pending RERA Proceedings.

The petitioner, IDBI Trusteeship Services Limited, a debenture trustee, filed a writ petition seeking a direction to the District Collector, Pune, and...