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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

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Bombay High Court Dismisses Appeal by Revenue Authorities in Stamp Duty Dispute — Security-cum-Mortgage Bond for Guaranteeing Third-Party Loan is Collateral Security Under Article 40(c) of Maharashtra Stamp Act, 1958, Not a Mortgage Deed Under Article 40(a).

The present Letters Patent Appeal was filed by the Joint District Registrar and Collector of Stamps, Nagpur, and the Chief Controlling Revenue Authori...

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Bombay High Court Dismisses Appeal by Guarantors in SFC Act Recovery Case — Directors Held Jointly and Severally Liable for Company Loan. Guarantors Cannot Raise Defences of Principal Debtor Under Section 31(1)(aa) of State Financial Corporation Act, 1951.

The appeal arises from a judgment dated 19th September 2007 passed by the learned Adhoc District Judge, Pune, in Miscellaneous Civil Petition No.859 o...

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Bombay High Court Dismisses Second Appeal in Mortgage Recovery Suit — No Substantial Question of Law Arises. Transfer of Mortgage Rights Requires Proper Registration Under Section 17 of Registration Act, 1908.

The appellant, Milagres Sales Coutinho, filed a second appeal before the Bombay High Court at Goa challenging the judgment and order dated 22.06.2012 ...

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Bombay High Court Dismisses Appeal Against Refusal to Revoke Leave Under Clause 12 of Letters Patent in Mortgage Suit. Part of Cause of Action Arose Within Jurisdiction as Loan Agreement and Assignment Deed Were Executed in Mumbai and Title Deeds Deposited There.

The appellant, Deccan Chronicle Holdings Ltd., was the original First Defendant in a suit filed by PIL Industries Ltd. (the plaintiff) for recovery of...

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Bombay High Court Allows Redemption in Mortgage by Conditional Sale Dispute. Deed Dated 21-4-1953 Held to be Mortgage by Conditional Sale Under Section 58(c) of Transfer of Property Act, 1882, Not Sale with Condition of Repurchase.

The case involves a second appeal arising from a suit for redemption of mortgaged land. The plaintiffs (respondents) claimed that their late father, T...

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Bombay High Court Dismisses Second Appeal in Property Suit — Concurrent Findings of Fact Not Disturbed Under Section 100 CPC. Sale Deed Challenged as Void for Non-Compliance with Section 7 of Maharashtra Agricultural Lands (Ceiling on Holdings) Act, 1961, but Court Found No Substantial Question of Law.

The case involves a second appeal filed by Navinchand Khushalchand Mutha against the judgment and decree of the lower appellate court in a suit for de...