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Gujarat High Court Allows Appeal in Recovery Suit, Sets Aside Dismissal for Non-Prosecution. The Court restored Civil Suit No. 2037 of 1998 to the file of the City Civil Court, Ahmedabad, holding that the dismissal for default was not justified given the long pendency of the suit.

The appellant, Abhishek Finlease Ltd., filed a First Appeal under Section 96 of the Code of Civil Procedure, 1908, challenging the judgment and decree...

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High Court of Karnataka Dismisses Intra-Court Appeal Against Look-Out Circulars Issued by Banks Due to Default of Rs.2800 Crores. Court Holds that Petitioner’s Concession to Banks’ Power and Pending Suits Justify Travel Restriction Under Office Memoranda.

The intra-court appeal arose from the dismissal of a writ petition that challenged two Look Out Circulars issued by Bank of Baroda and Punjab National...

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Supreme Court Hears Appeal on Limitation in IBC Proceedings; Balance Sheet Acknowledgment Dispute. NCLAT Upheld Dismissal of Section 7 Application as Time-Barred Despite Claim of Debt Acknowledgment in Financial Statements.

The appeal arose from the dismissal of an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 filed by IL&FS Financial Services Li...

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Bombay High Court Dismisses Second Appeal in Specific Performance Suit — Concurrent Findings of Readiness and Willingness Upheld. Agreement to Sell for Rs. 1,10,000 with Rs. 1,000 Earnest Money; Plaintiff Proved Continuous Readiness and Willingness to Perform.

The case involves a suit for specific performance of an agreement to sell agricultural land. The plaintiffs (respondents) entered into an agreement wi...

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High Court of Karnataka Allows Canara Bank's Appeal Against Refund Order in SARFAESI Auction Dispute — Bank Not Obliged to Refund 25% Deposit When Auction Purchaser Defaults on Balance Payment.

The appellant, Canara Bank, conducted an e-auction on 29 November 2021 of a property under the Securitisation and Reconstruction of Financial Assets a...