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Supreme Court Allows Appeal in Cooperative Bank CEO Appointment Dispute — Upholds Apex Society's Power to Depute Cadre Officers. Section 54(3) of Chhattisgarh Co-Operative Societies Act, 1960 obligates District Central Cooperative Bank to accept CEO deputed by State Cooperative Bank from its cadre.

The dispute arose from the appointment of the Chief Executive Officer (CEO) of the first respondent, Zila Sahkari Kendriya Bank Maryadit, a District C...

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Bombay High Court Quashes Arrest Order Against Guarantors in DRT Recovery Proceedings — Recovery Officer Cannot Order Arrest Without Prior Notice and Hearing Under Section 25 of RDDBFI Act, 1993

The petitioners, Kishor K. Mehta and Rajesh K. Mehta, were directors and guarantors of Beautiful Diamonds Company Limited, which had availed loan faci...

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High Court of Karnataka Adjudicates Appeal Against Dismissal of Specific Performance Suit Arising from Joint Development MOU; Developer Seeks Amendment to Include Refund Claim After Dismissal of Suit.

The appeal arose from a commercial suit for specific performance of a Memorandum of Understanding (MOU) dated 27.09.2004. The appellant, M/s Whitefiel...

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Bombay High Court Dismisses Writ Petition Challenging Cancellation of Banking Licence of Co-operative Bank. Reserve Bank of India's Order Under Section 22(4) of Banking Regulation Act, 1949 Upheld as No Ground for Interference in Writ Jurisdiction.

The petitioners, Surendra K. Kambli and another, were members and shareholders of the Bhandari Co-operative Bank Ltd. (First Respondent), a co-operati...

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High Court Dismisses Arbitration Petitions Challenging Awards Under Multi-State Co-operative Societies Act -- Upholds Arbitrator's Jurisdiction in Banking Dispute with Co-operative Bank -- No Conflict Found with SARFAESI Act or RDB Act

The High Court dismissed two Commercial Arbitration Petitions challenging arbitral awards passed by an Arbitrator appointed under Section 84 of Multi-...