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Bombay High Court Enforces Foreign Arbitral Award in Favor of Award Holder Against Award Debtor. Court Rejects Objections Under Section 48 of Arbitration and Conciliation Act, 1996 for Non-Compliance, Incapacity, Natural Justice, and Public Policy.

The case concerns the enforcement of a foreign arbitral award dated 17th January, 2011 passed in London, UK, in favor of Vitol S.A. (the award holder)...

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Bombay High Court Dismisses Petitions Challenging RBI Moratorium on Urban Co-operative Bank. RBI Directions Under Section 35A of Banking Regulation Act, 1949 Are Binding and Not Subject to Challenge Under Maharashtra Co-operative Societies Act, 1960.

The case involves three writ petitions filed in the Bombay High Court, Aurangabad Bench, challenging the directions issued by the Reserve Bank of Indi...

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Judicial Scrutiny of RBI's Supersession of Abhyudaya Co-operative Bank's Board. Balance between Constitutional mandates and banking regulations reaffirmed.

The Bombay High Court assessed the legality of the Reserve Bank of India's (RBI) supersession of the Board of Directors of Abhyudaya Co-operative Bank...

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High Court of Bombay at Nagpur Dismisses Bank's Revision Against Rejection of Plaint in Suit Challenging SARFAESI Action — Civil Court Has Jurisdiction to Entertain Suit Alleging Violation of RBI Guidelines and Fraud.

The case involves a civil revision application filed by Bank of Baroda (applicant/original defendant) challenging an order dated 26/04/2018 passed by ...

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Bombay High Court Dismisses Appeal Against Interim Attachment of Bank Accounts in Arbitration Dispute. Section 37 Appeal Under Arbitration and Conciliation Act, 1996 Fails as Petitioner Failed to Demonstrate Prima Facie Case or Irreparable Loss.

The petitioner, Ajazul Haque Khan, filed a petition under Section 37 of the Arbitration and Conciliation Act, 1996, challenging an order dated January...

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Bombay High Court Dismisses Petition Challenging FEMA Show Cause Notices Against BCCI President. Section 42 of FEMA applies to persons in charge of and responsible for the conduct of business of a company, and the petitioner as President is covered.

The petitioner, Shashank Vyankatesh Manohar, was the President of the Board of Control for Cricket in India (BCCI) from 2008 to 2011. During this peri...

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Bombay High Court Dismisses Writ Petition Against DRAT Order Rejecting One Time Settlement in Debt Recovery Case. RBI Circular of 2003 Held Not Applicable to Accounts That Became NPA Before 31st March 2000.

The petitioners, Kanwar Vilas Raj Nath and another, filed a writ petition challenging an order of the Debts Recovery Appellate Tribunal (DRAT) dated 4...

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NCLAT Allows Appeal Against Dismissal of Section 7 IBC Application by Financial Creditor. Loan Agreement and Default Established Through Signed Documents and Acknowledgment of Debt.

The present appeal was filed by Desana Impex Limited (Appellant), a Non-Banking Financial Corporation (NBFC) registered under the Companies Act, 2013 ...