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Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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Bombay High Court Dismisses Appeals Against Injunction Order in Pledge Dispute, Upholds Ad-Interim Relief Despite Delay in Pronouncement. Delay of Over One Year in Passing Interlocutory Order Does Not Automatically Vitiate It Unless Prejudice Is Demonstrated.

The case involves three commercial appeals filed under Section 13(1-A) of the Commercial Courts Act, 2015, challenging an order dated 5 June 2023 pass...

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High Court of Karnataka Allows Writ Petition Quashing Enquiry Notice Under Section 64 of Karnataka Cooperative Societies Act, 1959 Due to Pending Re-Audit. Re-audit under Section 63 must be completed before initiating enquiry under Section 64; notice set aside as premature.

The petitioner, Bherya Primary Agriculture Credit Co-operative Society Ltd., filed a writ petition under Articles 226 and 227 of the Constitution of I...

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Bombay High Court Upholds Removal of Bank Officer for Misconduct in Loan Transaction. Disciplinary proceedings based on loan of Rs.6,500 sanctioned in 1976 held valid despite delay, as charges of moral turpitude and pecuniary benefit were proved.

The petitioner, Shri Sagar Sadashiv Kasture, was initially appointed as a Clerk in the Central Bank of India on 5 March 1973 and later promoted as an ...