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Bombay High Court Upholds Penalty for FEMA Violations in Bogus Export Case — Appellant Director Held Liable for Receiving Remittances Without Actual Exports Under Sections 3(b) and 3(d) of FEMA.

The case involves an appeal under Section 35 of the Foreign Exchange Management Act, 1999 (FEMA) against an order of the Appellate Tribunal for Foreig...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Demurrage Claim Dispute. Claim for demurrage and detention charges held time-barred under Article 55 of Limitation Act, 1963 as the cause of action arose on completion of discharge, not on subsequent demand.

The Petitioner, National Iranian Tanker Company, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996 challenging a majorit...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Cooperative Bank Loan Recovery Case. Court upholds award under Section 34 of Arbitration and Conciliation Act, 1996 and Section 84 of Multi-State Cooperative Societies Act, 2002, finding no grounds for interference.

The petitioners, Vedansh Hospitality and Resorts Limited and two individuals, were original respondents in an arbitration proceeding initiated by New ...

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Bombay High Court Dismisses Bank's Arbitration Petitions Against Guarantors Due to Limitation and Lack of Arbitration Agreement. The court held that claims against guarantors were barred by limitation and that the arbitration clause in the loan agreement did not extend to guarantors who were not signatories.

The case involves three arbitration petitions filed by Abhyudaya Co-operative Bank Ltd. against various respondents, including Rainproof Exports Pvt. ...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Co-operative Bank Loan Dispute. Court upholds award holding borrowers jointly and severally liable for Rs.9.88 crore with interest under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioners, Abid & Company Steels Private Limited and its directors, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1...

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Bombay High Court Allows Section 9 Petition for Appointment of Receiver and Injunction in Loan Default Case. Loan Agreement and Mortgage by Deposit of Title Deeds Established Prima Facie Case for Interim Relief Under Section 9 of the Arbitration and Conciliation Act, 1996.

The petitioner, Aditya Birla Finance Limited, a non-banking finance company, filed a petition under Section 9 of the Arbitration and Conciliation Act,...