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Bombay High Court Dismisses Debtors' Motion to Set Aside Insolvency Notice in Consent Decree Dispute. Failure to Pay Agreed Amount by Stipulated Date Renders Debtors Liable for Full Decretal Amount Under Presidency Towns Insolvency Act, 1909.

The petitioning creditor, Videocon Industries Ltd., filed Suit No. 1891 of 2000 against M/s Akar Laminators and the two judgment debtors, V.T. Seth & ...

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High Court of Karnataka Allows Petition Under Section 482 Cr.P.C. to Set Aside Rejection of Application for Handwriting Expert Opinion in N.I. Act Case. Trial Court's Order Set Aside as Petitioner Was Denied Opportunity to Prove Defence Under Section 45 r/w Section 73 of Indian Evidence Act, 1872.

The petitioner, Annappa Maruti Magadum, was a member of the respondent, Karnataka Multipurpose Souhard Sahakari Ltd., Chikkodi. He had availed an MTL ...

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Supreme Court Allows Appeal of Auction Purchaser in SARFAESI Act Case — High Court Erred in Entertaining Writ Petition Despite Alternative Remedy. Restoration of Securitization Application After Full Payment and Sale Certificate Issuance Held Improper.

The appeal arises from an order of the Division Bench of the High Court for the State of Telangana at Hyderabad, which set aside the DRT's order dismi...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Bad Debt Deduction Case. Assessee's Claim for Deduction of Written-Off Principal Deposit as Bad Debt Under Section 36(1)(vii) Read with Section 36(2) of Income Tax Act, 1961 Allowed Based on Precedent of Pudumjee Pulp and Paper Mills Limited.

The appeal before the Bombay High Court arose from an income tax assessment for Assessment Year 2005-06. The respondent assessee had filed its return ...

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Bombay High Court Dismisses Summary Suit for Recovery Based on Dishonoured Cheque Due to Material Alteration. Cheque with discrepancy between figures and words held to be materially altered under Section 87 of Negotiable Instruments Act, 1881, rendering it void against the drawer.

The plaintiff, Suneel Dattatraya Mogre, filed a Commercial Summary Suit against the defendant, Prabhakar Baburao Thorat, seeking a decree for Rs.2,25,...