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Supreme Court Dismisses Appeal Against Extension of Time to Deposit Sale Consideration in Specific Performance Decree. Doctrine of Merger Applies When Appellate Court Restores Trial Court Decree Without Fixing Time for Deposit.

The case involves four connected civil appeals arising from a common judgment of the High Court of Punjab & Haryana dated 09.09.2022, which dismissed ...

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High Court Dismisses Appeal Against Winding-Up Order in Bond Default Case; Upholds Adverse Remarks Against Directors for Fund Diversion. Company Found Unable to Pay Debts and Substratum Lost, Justifying Winding Up Under Sections 433(e) and 433(f) of Companies Act, 1956.

The appeal arose from a winding-up order passed by the learned company Judge against Zenith Infotech Limited (the appellant) in a petition filed by Th...

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Supreme Court Dismisses Challenge to Enforcement of Foreign Award on Grounds of Arbitrator Bias — Upholds High Court Order. Alleged Conflict of Interest of Presiding Arbitrator Not Sufficient to Refuse Enforcement Under Section 48(2)(b) of Arbitration and Conciliation Act, 1996.

The Supreme Court dismissed appeals challenging the enforcement of a foreign arbitral award. The dispute arose from a Share Subscription Agreement bet...

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Supreme Court Allows Appeal by Bank Management in Dispute Over Supervisory Allowance Claim by Head Cashiers Under Sastry and Desai Awards. Labour Court's Order Granting Special Allowance Set Aside as Head Cashiers' Duties Were Primarily Clerical and Any Supervisory Work Was Incidental.

The dispute arose between the Management of State Bank of Hyderabad and its head cashiers, who were respondents, regarding their claim to a special al...

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Supreme Court Allows Secured Creditor's Appeal in Customs Duty Priority Dispute Over Wound-Up Company's Hypothecated Goods. Held that customs authorities do not have priority over secured creditors under Section 529A of Companies Act, 1956 for sale of warehoused goods under Customs Act, 1962.

The appeal by Industrial Development Bank of India (IDBI) challenged the judgment of the Andhra Pradesh High Court which held that customs authorities...

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Bombay High Court Considers Administrator’s Report for Recovery of Diverted Estate Assets in Testamentary Suit. Court Appointed Administrator Seeks Directions Against Defendant for Unauthorized Diversion of Deceased’s Funds to Various Entities.

The matter concerned the administration of the estate of Purvez Burjor Dalal, who died in Mumbai on 7 December 2011. A testamentary suit was institute...

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Bombay High Court Appoints Receiver and Orders Disclosure of Assets in Arbitration Petition for Loan Default. Court grants interim relief under Section 9 of the Arbitration and Conciliation Act, 1996, after consent award cheques are dishonoured.

The Petitioner, Karvy Financial Services Ltd., filed an Arbitration Petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking ap...

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Bombay High Court Sanctions Scheme of Arrangement in Company Petition for Revival of Sick Pharmaceutical Company. Scheme under Section 391 of Companies Act, 1956, Approved Involving Settlement of Secured Creditors' Dues through Cash and Securities.

The Pharmaceutical Products of India Limited (PPIL), a company incorporated under the Companies Act, 1956, filed two company petitions under Section 3...