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Bombay High Court Dismisses Writ Petition Challenging Rejection of Plaint in SARFAESI Act Dispute — Civil Suit Barred Under Section 34 of SARFAESI Act, 2002. Shareholder's Allegations of Fraud Do Not Override Statutory Bar When Secured Assets Are Involved.

The petitioner, Shashikant Gangar, a shareholder and director of Libox Chem (India) Private Limited (respondent no. 2), filed a writ petition challeng...

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High Court of Karnataka Allows Appeal in Money Recovery Suit — Photostat Copy Compared with Original is Admissible as Secondary Evidence Under Section 63 of Evidence Act, 1872. Section 11 of Karnataka Money Lenders Act, 1961 Does Not Mandate Production of Licence to Maintain Suit.

The appellant, Shri M. Ratnavarma Padival, filed a Regular Second Appeal under Section 100 of the Code of Civil Procedure, 1908, challenging the judgm...

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High Court of Karnataka Partly Allows Partition Appeal in Family Property Dispute — Modifies Trial Court's Decree on Self-Acquired Properties. The court upheld the trial court's finding on joint family property but excluded certain items from partition due to lack of evidence of jointness.

The case involves a partition suit filed by the respondents (daughters and widow) against the appellants (sons) for partition of suit schedule propert...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Derivative Transaction Case. Exchange Traded Derivatives Held Not Speculative Under Section 43(5) of Income Tax Act, 1961, with Retrospective Application of Clause (d) of Proviso.

The case involves an appeal by the Commissioner of Income-tax, Central-IV against the order of the Income Tax Appellate Tribunal (ITAT) in favor of th...