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Bombay High Court Allows SICOM's Petitions Under Section 31(1)(aa) of SFC Act for Recovery of Term Loan Defaults. Financial Corporation Entitled to Enforcement of Security Interest Without Prior Adjudication of Liability.

The petitioner, SICOM Limited, a deemed State Financial Corporation under Section 46 of the State Financial Corporation Act, 1951, filed a group of pe...

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Bombay High Court Dismisses Application to Rescind Consent Decree and Allows Substitution of Legal Heirs in Recovery Suit. Consent Terms Are Binding Contract; Legal Representatives Can Be Substituted Under Order 22 CPC for Execution of Decree.

The plaintiffs filed a suit (Suit No.2011 of 2002) against the defendants for recovery of Rs.3,30,00,000 with interest. On 3rd October 2006, the parti...

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Bombay High Court Dismisses Revision Against Executing Court's Order in Partition Execution — No Jurisdictional Error Found. Executing Court Cannot Go Behind Decree and Objections Under Order 21 Rule 90 CPC Must Be Raised Before Sale Confirmation.

The case arises from a partition suit (Partition Suit No.945 of 1968) filed by the heirs of Bachhusingh, who died intestate on 24-11-1964, concerning ...

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Bombay High Court Dismisses Petition to Quash Process in NI Act Case Against Sick Company's Managing Director. Court holds that declaration of a company as sick under SICA does not absolve its directors from criminal liability under Section 138 of the Negotiable Instruments Act, 1881.

The petitioner, Omesh Keshav Karnik, Managing Director of Phoenix Fine Chem Pvt. Ltd., a sick company, filed a Criminal Writ Petition before the Bomba...

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Bombay High Court Grants Injunction Against Unilateral Price Hike in Flat Purchase Agreement. The court restrained the builder from selling the flat to third parties and from increasing the price, pending suit for specific performance.

The plaintiff, Pius Varghese Pullikottil and another, filed a suit for specific performance of an agreement for the purchase of a flat against Neptune...

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Bombay High Court Dismisses Writ Petition Challenging CLB Order Refusing Reference to Arbitration. Availability of Alternative Remedy Under Section 10F of Companies Act, 1956 Precludes Exercise of Writ Jurisdiction Under Article 226 of Constitution.

The petitioners, Emgee Housing Private Limited and others, filed a writ petition under Article 226 of the Constitution of India before the High Court ...