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Supreme Court Allows Appeal in MPID Act Deposit Dispute — High Court Erred in Treating Investment as Loan Transaction. The court held that amounts advanced with promise of interest constitute 'deposit' under Section 2(c) of MPID Act, and failure to repay amounts to 'fraudulent default' under Section 3.

The present appeal arises from a judgment of the Bombay High Court dismissing the appellants' Criminal Revision Application under the MPID Act. The ap...

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NCLAT Dismisses Appeal of BEST Undertaking Against Liquidator's Rejection of Interest Claim and Secured Creditor Status in Liquidation of Spark Green Energy. Interest-Free Deposit Does Not Attract Interest, and Unregistered Charge Does Not Confer Secured Status Under IBC.

The appeal was filed by Brihanmumbai Electricity Supply and Transport Undertaking (BEST) against an order of the Adjudicating Authority (NCLT Mumbai B...

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Bombay High Court Quashes FIR in Franchise Dispute: Breach of Contract Not Cheating Without Fraudulent Intent. Essential Ingredients of Sections 420 and 406 IPC Not Made Out as Dispute is Purely Civil in Nature.

The applicants, directors of AN Retail Ventures Private Limited (ANR), sought quashing of FIR No.134/2021 registered at Osmanpura Police Station, Aura...

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Supreme Court Allows Appeal Against Unconditional Stay of Arbitral Award in Favour of State Government. Order XXVII Rule 8A CPC Does Not Mandate Unconditional Stay; Court Must Impose Conditions Under Section 36(3) of Arbitration and Conciliation Act, 1996.

The case arises from a dispute between PAM Developments Private Ltd. (appellant) and the State of West Bengal (respondent) concerning a tender for roa...

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Bombay High Court Upholds Industrial Court's Order Granting Permanency to Fixed-Term Security Guard in Saudi Arabian Airlines Case. Fixed-term employment found to be a camouflage to deny permanency benefits under MRTU & PULP Act.

The appellant, Saudi Arabian Airlines, engaged the respondent workman as a Security Guard on a fixed-term contract from 1st October 1989 for two years...

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Bombay High Court Dismisses Petition Challenging Forfeiture of Bank Guarantees in Tender Dispute. Earnest Money Deposit Forfeited as Bidder's Unilateral Discount Offer After Bid Opening Violated Tender Terms.

The petitioner, Knowledge Infrastructure Systems Pvt. Ltd., a company engaged in coal trading, along with its shareholder, filed a writ petition under...

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Bombay High Court Allows Petition Challenging Stamp Duty Demand on Collateral Security Bond. Security-cum-Mortgage Bond executed as collateral security for loan is chargeable under Article 40(c) of Schedule I of Bombay Stamp Act, 1958, not as mortgage deed.

The petitioner, M/s. Jaika Automobiles Private Limited, a private limited company, filed a writ petition under Articles 226 and 227 of the Constitutio...