Search Results for "cooperative society liquidation"

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Search Results for "cooperative society liquidation"

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Supreme Court

Supreme Court Allows Secured Creditor's Appeal in Co-operative Bank Liquidation Case, Holding Priority Over Workmen's Dues Under SARFAESI Act. Section 26E of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 grants overriding priority to secured creditors over all other debts, including statutory dues like provident fund and wages.

20 Nov 2025

The appellant, a secured creditor, had advanced loans to a co-operative sugar factory (the respondent Society). The factory became defunct and default...

High Court

Bombay High Court Allows Redevelopment of C-1 Building Despite IBC Moratorium — Development Rights Not Asset of Corporate Debtor. Cooperative Housing Society's Right to Redevelop Its Property Upheld Against Resolution Professional's Interference.

11 Sep 2024

The Petitioner, Kher Nagar Sukhsadan Co-operative Housing Society Ltd., owned a building on land leased from MHADA. In 2005, it entered into a Develop...

Supreme Court

Supreme Court Reverses High Court in SICA Case on Unsecured Creditor Rights - Sanctioned Rehabilitation Scheme Binding on All Creditors. Court held that under Sections 18(8) and 32 of Sick Industrial Companies (Special Provisions) Act, 1985, unsecured creditors cannot opt out of scaled-down payments and must accept scheme terms for company revival.

17 Mar 2023

The Supreme Court addressed a group of appeals concerning the binding effect of rehabilitation schemes sanctioned under the Sick Industrial Companies ...

Supreme Court

Supreme Court Enhances Compensation for Land Owners in Land Acquisition Case Under Land Acquisition Act, 1894. Court Applied Cumulative Rate of Annual Increase and Reduced Development Cut, Determining Market Value Based on Highest Bona Fide Exemplar Sale Deed from 1979.

13 Sep 2021

The dispute arose from the acquisition of land measuring 297 Kanals and 1 Marla in Jassi Pau Wali, Bhatinda, Punjab, for establishing the Bhatinda Int...

Supreme Court

Supreme Court Dismisses Appeals by Cooperative Housing Society Challenging Land Acquisition for Vasant Kunj Scheme. Land Acquisition Proceedings Upheld Despite Policy Preference for Cooperative Societies.

24 Oct 2019

The case pertains to land acquisition proceedings initiated by the Government of NCT of Delhi for the Vasant Kunj residential scheme. A notification u...

High Court

Bombay High Court Quashes Criminal Proceedings Against Directors in Cheque Dishonour Case Due to Lack of Vicarious Liability. Directors Not in Charge of Day-to-Day Operations Cannot Be Prosecuted Under Section 138 of Negotiable Instruments Act, 1881 Without Specific Allegations.

13 Sep 2019

The petitioners, who were directors of Shri Sainath Nagri Sahakari Path Sanstha Ltd. (a cooperative bank), filed a writ petition under Article 226 of ...

High Court

Bombay High Court Quashes Recovery Certificate Against Non-Member in Cooperative Bank Liquidation — Lack of Jurisdiction Under Section 105 Maharashtra Cooperative Societies Act. Liquidator's Power to Determine Debts Confined to Members; Prior Approval of Registrar Mandatory Under Rule 89(14).

27 Feb 2015

The petitioners, Smt. Kalpana Taori and Ramesh Taori, challenged a recovery certificate for Rs.9,76,506.85 issued under Section 105(1) of the Maharash...

High Court

Bombay High Court Dismisses Appeal by Bank in Possession Suit, Upholds Trial Court's Decree for Possession and Mesne Profits. Counterclaim for Specific Performance of Sale Contract Dismissed as Unenforceable Due to Lack of Registered Agreement and Failure to Prove Readiness and Willingness.

1 Aug 2014

The case involves a dispute over immovable property, Municipal House No.9 at Ahmedpur, consisting of a godown, three rooms, and open space on a plot o...

High Court

Bombay High Court Dismisses Writ Petition Against SARFAESI Auction Sale for Lack of Alternative Remedy. Petitioner's challenge to auction sale of secured assets fails as remedy under Section 17 of SARFAESI Act before DRT was not exhausted.

10 Dec 2013

The petitioner, Umang Sugars Private Limited, filed a writ petition before the Bombay High Court challenging the auction sale of movable and immovable...

High Court

Bombay High Court Allows Municipal Corporation's Petition Against Rejection of Leave to Join Liquidator in Consumer Complaint. Section 107 of Maharashtra Cooperative Societies Act, 1960 does not require notice to Liquidator before granting leave to sue.

3 Aug 2011

The petitioner, Akola Municipal Corporation, had deposited Rs. 1,31,00,000 with the respondent no.1 Bank in a fixed deposit for 31 days at 9.5% intere...

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