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High Court of Karnataka Dismisses Writ Petition Challenging DRT Order in SARFAESI Act Matter — One Time Settlement Not Binding as Bank Did Not Accept Offer. Court Held That Mere Submission of OTS Proposal Does Not Create Binding Contract; Bank's Rejection Valid.

The petitioners, borrowers of the respondent bank, challenged the order dated 22.09.2022 passed by the Debt Recovery Tribunal-I, Bangalore in Diary No...

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Bombay High Court Dismisses Review Petition in Arbitration Matter — No Error Apparent on Face of Record in Limitation Finding. Court holds that review jurisdiction under Section 114 CPC and Order 47 Rule 1 is limited to errors apparent on record, not re-appreciation of evidence.

The review petition was filed by Hindustan Construction Co. Ltd. (the original respondent no.1 in Arbitration Appeal No. 6 of 2007) seeking review of ...

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Bombay High Court Allows Appeal Against Rejection of Plaint in Company Fraud Case. Civil Court Jurisdiction Not Barred Under Section 10GB of Companies Act, 1956 for Fraud Allegations.

The appellants, M/s. Candolim Developers Pvt. Ltd. and its director Sunil Thukral, filed a suit before the Civil Judge Senior Division, Panaji, seekin...

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Bombay High Court Dismisses Condonation of Delay Application by Municipal Corporation Due to Lack of Sufficient Cause. Delay of 235 Days in Filing Appeal Not Explained with Affidavit or Proper Grounds, Limitation Act, 1963 Section 5.

The Municipal Corporation of Greater Mumbai filed an application for condonation of delay of 235 days in filing a first appeal against a decision of t...

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Supreme Court Allows Revenue's Appeal in Income Tax Case on Unexplained Investment in Silver Bullion. Section 69A of Income Tax Act, 1961 Applicable Where Assessee Fails to Explain Source of Acquisition of Silver Found in Possession.

The present appeals were filed by the Revenue against the judgment of the Rajasthan High Court which allowed the appeals of the assessee, Prakash Chan...

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Supreme Court Allows Appeal in Mediclaim Policy Renewal Dispute — Insurer Must Disclose Material Changes in Coverage at Renewal. Renewal of Insurance Policy is Not a Fresh Contract; Insurer Owed Duty to Inform Insured of Restrictive Terms Under Principle of Utmost Good Faith.

The appellants, Jacob Punnen and his wife, held a Mediclaim policy with United India Insurance Co. Ltd. since 1982, renewed annually. In March 2008, t...

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Bombay High Court Dismisses Challenge to Arbitral Award in Steel Coils Supply Dispute — Non-Conforming Goods Justify Rejection and Damages. The court upheld the arbitral award granting damages for breach of contract where goods did not meet specifications under the contract for sale of goods.

The petitioner, JSW Steel Ltd., challenged an arbitral award dated 28th May 2013 under Section 34 of the Arbitration and Conciliation Act, 1996. The d...