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Bombay High Court Allows Appeal, Restores Arbitral Award in Contractor vs. Irrigation Corporation Dispute. Court Holds That Section 34 Court Exceeded Its Jurisdiction by Reappreciating Evidence and Setting Aside Award on Grounds Not Permitted Under Section 34 of the Arbitration and Conciliation Act, 1996.

The present Commercial Arbitration Appeal was filed by M/s. Shinde & Sons, a contractor, under Section 37 of the Arbitration and Conciliation Act, 199...

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Supreme Court Dismisses Appeals by Liquidators Challenging Benami Act Attachment Orders, Upholds NCLAT Ruling that IBC Authorities Lack Jurisdiction to Entertain Challenges to Benami Act Orders During Insolvency Proceedings

The Supreme Court dismissed a batch of civil appeals filed by liquidators challenging provisional attachment orders issued under the Prohibition of Be...

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High Court Dismisses Applicants Revision Applications Against Multiple Borrowers in Loan Recovery Case Due to Procedural Deficiencies and Lack of Jurisdictional Error

The High Court dismissed a series of Civil Revision Applications filed by Applicant challenging the dismissal of its applications for restoration of s...

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Bombay High Court Dismisses Petition to Terminate Arbitrator's Mandate for Alleged Undue Delay in Arbitration Proceedings. Section 14(2) of Arbitration and Conciliation Act, 1996 requires de jure inability to act, not mere delay, for termination of mandate.

The petitioners, Ramavtar B. Jajodia and Santosh Ramavtar Jajodia, filed a petition under Section 14(2) of the Arbitration and Conciliation Act, 1996,...

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Bombay High Court Allows Revenue's Appeal in Income Tax Case - Holding Period for Long-Term Capital Gains Determined by Section 2(42A) Explanation 1. Indexation Benefit Requires Asset Held for More Than 36 Months; Inherited Property's Holding Period Includes Previous Owner's Period.

The case involves an appeal by the Commissioner of Income Tax against an order of the Income Tax Appellate Tribunal (ITAT) regarding the computation o...

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Bombay High Court Dismisses Appeal by Khadi & Village Industries Commission in Industrial Dispute Jurisdiction Case. State Government Held to Be Appropriate Government Under Section 2(a) of Industrial Disputes Act, 1947 for KVIC.

The case involves an appeal by the Khadi and Village Industries Commission (KVIC) against a judgment of a single Judge of the Bombay High Court, which...

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Bombay High Court Dismisses Appeal Against Attachment Before Judgment in Recovery Suit by Financial Institutions. Non-Compliance With Order 38 Rule 5A CPC Does Not Invalidate Order Absent Prejudice.

The appeal arises from a suit filed by financial institutions (respondents 2 to 12) against J.K. Synthetics Limited (appellant) for recovery of dues. ...

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NCLAT Allows Fresh Form G to Maximize Asset Value in CIRP of Raigarh Champa Rail Infrastructure Pvt. Ltd. — Challenge Mechanism Under Regulation 39(1A)(b) of IBBI Regulations, 2016 Must Be Conducted Among Existing Resolution Applicants.

The appeal was filed by JM Financial Asset Reconstruction Company Ltd., acting as trustee of Rail December 2024 Trust, challenging the Impugned Order ...