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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 Suit for Specific Performance with Exemplary Costs for Suppression of Facts and Forum Shopping. Plaintiffs failed to disclose prior pending suit and obtained ex parte orders by misrepresentation, leading to dismissal and costs of Rs. 5 lakhs.

The plaintiffs, Anand Agarwal and Pramila Anand Agarwal, filed a Commercial Suit No. 614 of 2017 before the Bombay High Court seeking specific perform...

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Bombay High Court Quashes Recovery Certificate Against Guarantor in Cooperative Bank Loan Fraud Case — Violation of Natural Justice. Failure to Provide Documents and Pass Reasoned Order Renders Recovery Proceedings Invalid Under Maharashtra Cooperative Societies Act, 1960.

The petitioner, Tarulata Amritlal Bava, filed a writ petition under Articles 226 and 227 of the Constitution challenging a Recovery Certificate dated ...

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Supreme Court Dismisses Cooperative Society's Appeals Challenging Sale Deeds Executed in Favor of Members. Arbitrator under Delhi Cooperative Societies Act lacks jurisdiction to adjudicate validity of registered sale deeds, which can only be challenged before civil court.

The Supreme Court dismissed the appeals filed by Delhi Dayalbagh Cooperative House Building Society Ltd. against the orders of the Delhi High Court, w...

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Bombay High Court Examines Executability of Civil Court Decree in Light of Purchase Certificates Issued Under Bombay Tenancy and Agricultural Lands Act. Decree for Joint Possession Challenged by Judgment-Debtors Claiming Ownership Under Section 32M of the Tenancy Act, Rendering Decree Inexecutable.

The Bombay High Court entertained a writ petition arising from the order dated 28.7.1986 of the Civil Judge, Junior Division, Islampur, rejecting an a...

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National Company Law Appellate Tribunal Considers Appeal Against Admission of Coffee Day Enterprises to CIRP Under Section 7 of Insolvency Code. Appeal Raises Questions on the Validity of Debenture Trustee's Action and Limitation Period Based on Debenture Trust Deed Provisions.

The appeal arose from an order of the NCLT Bengaluru Bench admitting Coffee Day Enterprises Limited (the corporate debtor) into Corporate Insolvency R...