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Bombay High Court Dismisses Promoter's Challenge to Pledge of Shares During Lock-In Period — Pledge Held Valid as Lock-In Restricts Transfer of Title, Not Interest. Court Rules That Pledge Under Section 172 of Contract Act Does Not Violate SEBI ICDR Regulations, 2009.

The plaintiff, Kannan Vishwanath, a promoter and managing director of Dr. Datson Labs Limited, filed a suit and notice of motion seeking a declaration...

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Bombay High Court Dismisses Appeal Against Official Liquidator's Report Seeking Declaration of Sale as Null and Void in Company Liquidation. Transfer of Leasehold Rights by Company in Liquidation Without Court Sanction Held Invalid Under Section 536(2) of Companies Act, 1956.

The appeal arose from a judgment of the learned Company Judge allowing the Official Liquidator's report seeking a declaration that the sale of immovab...

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Bombay High Court Considers Appeal Against Trial Court's Refusal to Cancel a Conveyance Deed in a Trust Property Dispute. The Appeal Challenges the Declaration that the Ante-dated Deed Is Inoperative Only to the Extent It Affects Trust Rights, Rather than Cancelling It Entirely.

The dispute centered on a trust property created by a deed of settlement dated 17 March 1951, with the plaintiff Bomi Munchershaw Mistry as a benefici...

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Supreme Court Allows Bank's Appeal, Upholds Liquidated Damages Clause in Employment Contract. Clause requiring employee to pay Rs. 2 lakhs for resigning before three years held valid under Section 27 of Indian Contract Act, 1872, and not opposed to public policy.

The Supreme Court allowed the appeals filed by Vijaya Bank and another against the judgment of the High Court of Karnataka which had quashed clause 11...

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Bombay High Court Dismisses Specific Performance Claim in Furnace Oil Supply Renewal Dispute. Plaintiff Voluntarily Gave Up Relief as Renewed Contract Period Had Already Expired, Leaving Damages Claim for Adjudication.

The suit was instituted by Saurashtra Chemicals Ltd, a chemical manufacturer, against Indian Oil Corporation Ltd, a government undertaking, arising fr...

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High Court of Bombay Dismisses Arbitration Petition in Interest on Security Deposit Dispute. Contractual Bar on Interest and Non-Applicability of Section 31(7)(a) Arbitration Act Renders Claim Unsustainable; Arbitrator’s Finding on Evidence Upheld.

The dispute arose from an agreement dated 30 December 1996 between the petitioner, M/s. Mascon Multiservices & Consultants Pvt. Ltd., and the responde...

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High Court of Karnataka Hears Regular First Appeals Against Decree for Specific Performance — Trial Court Decree Granting Specific Performance and Cancellation of Sale Deed Under Challenge. The Court Reserved Judgment; Outcome Not Stated in This Excerpt.

These two regular first appeals arose from the judgment and decree dated 30.06.2015 in O.S.No.594/2005 passed by the XI Addl. City Civil Judge, Bengal...

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Bombay High Court Dismisses Second Appeal in Specific Performance Suit, Upholds Concurrent Findings on Readiness and Willingness. Agreement for Sale of Land Executed in 1975, Suit Filed in 1985, Dismissed as Time-Barred and for Failure to Prove Continuous Readiness.

The respondent no.1/plaintiff, a cooperative housing society, filed a suit for specific performance of an agreement for sale of land dated 30.1.1975, ...

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Bombay High Court Grants Interim Injunction Restraining Co-operative Housing Society from Appointing Another Developer in Redevelopment Dispute. Letters exchanged between developer and society held to constitute a binding contract for redevelopment, and termination letter declared illegal.

The plaintiff, Pittie Antariksh Grl Pvt Ltd, a real estate company, filed a suit seeking declaration that letters dated 30/8/2021 and 23/10/2021 const...