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Supreme Court Disposes of PIL Challenging Interest Accrual During COVID-19 Moratorium After Government Announces Relief Measures. Petitioner expressed satisfaction with government's decision to waive interest on specified loan categories up to Rs.2 Crores.

The petitioner, Gajendra Sharma, filed a writ petition under Article 32 of the Constitution challenging the Reserve Bank of India's notification dated...

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High Court of Karnataka Allows RBI's Appeal Against Direction to Consider Loan Settlement — No Mandamus to Compel Discretionary Power. RBI's Circulars on One-Time Settlement Are Guidelines, Not Mandatory, and Do Not Create a Vested Right in Borrower Under Reserve Bank of India Act, 1934.

The Reserve Bank of India (RBI) filed a writ appeal challenging an order of a Single Judge of the High Court of Karnataka, Kalaburagi Bench, dated 22....

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Bombay High Court Dismisses Petitions Challenging Land Acquisition for Police Housing. Land Acquisition for Public Purpose Upheld as Compensation Determined Under Land Acquisition Act, 1894.

The petitioners, owners of land in Daund, Pune, challenged the acquisition of their land by the State of Maharashtra for construction of residential q...

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Bombay High Court Allows Possession Claim by Lessee in Company Liquidation — Official Liquidator Directed to Hand Over Property Subject to Lease. Leasehold Rights Survive Winding Up and Official Liquidator Must Respect Lessee's Right to Possession Under Section 456 of Companies Act, 1956.

The Provident Investment Company Ltd., a Government of Madhya Pradesh undertaking, filed an application seeking possession of leasehold land admeasuri...

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High Court of Karnataka Directs Banks to Comply with RBI Prudential Framework for Stressed Assets Resolution in Writ Petition by Borrower Company. The court held that the RBI circular dated June 7, 2019, is binding on banks and that the borrower has a right to seek a review meeting under the framework.

The petitioner, Ganjam Nagappa and Son Private Limited, a company incorporated under the Companies Act, 1956, filed a writ petition under Articles 226...

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High Court of Karnataka Hears Writ Petition Seeking Enforcement of RBI COVID-19 Moratorium Package. Petitioner Challenges Banks' Denial of Moratorium Under RBI Circular Dated 27.03.2020.

Velankani Information Systems Limited, a company operating an IT park and a five-star hotel in Bengaluru, availed term loans aggregating Rs. 475 crore...