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High Court of Bombay Allows Secured Creditor's Appeal Against Direction to Deposit Title Deeds in Insolvency — Official Assignee Cannot Demand Title Deeds Without Adjudication of Mortgage Validity Under Presidency Towns Insolvency Act, 1909.

The appeal was filed by Punjab National Bank (the appellant) against an order of a learned Single Judge of the Bombay High Court in Official Assignee'...

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Bombay High Court Dismisses Writ Petition Challenging SARFAESI Auction Sale Due to Alternative Remedy and Suppression of Facts. Petitioner, a Director and Shareholder of Mortgagor Company, Failed to Disclose Rejection of OTS and Auction Sale, Leading to Dismissal with Costs.

The petitioner, Ms. Archana Wani, a director and shareholder of respondent No. 5 (N. Kumar Housing and Infrastructures), filed a writ petition under A...

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Bombay High Court Allows Assignee of Debt to Proceed Under SARFAESI Act Despite Company Being Under Liquidation. Assignee Steps into Shoes of Original Lender and Can Enforce Security Interest Under Section 13 of SARFAESI Act, 2002.

The petitioner, ASREC (India) Limited, is a company registered as a Reconstruction Company and Securitisation Company with the Reserve Bank of India u...

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Bombay High Court Allows Assessees in Income Tax Reference Regarding Gold Bonds Profit as Capital Gain. Profit from sale of National Defence Gold Bonds held not taxable as business income under Income Tax Act, 1961, as transaction was not an adventure in the nature of trade.

The case involves three income tax references arising from a common order of the Income Tax Appellate Tribunal, Mumbai, for the assessment year 1980-8...