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Bombay High Court Allows Appointment of Arbitrator in MOU Dispute Between Developer and Public Trust. Arbitration Clause in MOU dated 16 June 2011 Held Valid and Binding Despite Non-Formation of Special Purpose Entity.

The petitioner, M/s. Devike Constructions and Developers Pvt. Ltd., filed a petition under Section 11 of the Arbitration and Conciliation Act, 1996, s...

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Supreme Court Allows Banks' Appeals in RBI Fraud Classification Case Regarding Natural Justice Requirements. Court Holds No Absolute Right to Personal Hearing or Full Forensic Audit Report Disclosure Under RBI Master Directions Issued Under Section 35A Banking Regulation Act, 1949.

The dispute arose from the classification of loan accounts as 'fraud' by banks under the Reserve Bank of India's Master Directions. The appellant bank...

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Karnataka High Court Examines Conviction of EPFO Official for Bribery Under Prevention of Corruption Act; Validity of Sanction and Proof of Demand Analyzed. Court Considers Whether Sanction Order Was Granted After Proper Application of Mind and Whether Accused Actually Demanded the Bribe.

The appellant, a former Senior Social Security Assistant in the Employees Provident Fund Organisation (EPFO), Regional Office, Bengaluru, was convicte...

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Supreme Court Partially Allows Builder's Appeal in Consumer Dispute Over Forfeiture of Earnest Money — Reduces Forfeiture from 20% to 10% of Basic Sale Price. Court upholds NCDRC's power to strike down unconscionable contractual terms but modifies interest rate and forfeiture percentage based on facts.

The present appeal arises from a consumer complaint filed by the respondents (buyers) against the appellant (builder, Godrej Projects Development Limi...

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Bombay High Court Quashes FIR for Abetment of Suicide and Money Lending Offences — No Proximate Link Between Alleged Acts and Suicide. Failure to Repay Loan and Threats of Legal Action Do Not Constitute Abetment to Suicide Under Section 306 IPC.

The case involves two connected proceedings: a Criminal Writ Petition filed by Subhash Ramgopal Bharuka and a Criminal Application filed by Sandesh Su...

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Bombay High Court at Goa Allows Writ Petition by Bank Against Co-operative Tribunal Order Discharging Sureties — No Variance of Contract or Loss of Security Under Indian Contract Act, 1872. Adjustment of Compensation from Defective Vehicle Towards Loan Does Not Discharge Sureties.

The petitioner, The Goa Urban Co-operative Bank Ltd., advanced two loans totaling Rs.3,47,000 to respondent no.4 (principal borrower) for purchasing a...

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Bombay High Court Dismisses Appeal Against Official Liquidator's Report Seeking Declaration of Sale as Null and Void in Company Liquidation. Transfer of Leasehold Rights by Company in Liquidation Without Court Sanction Held Invalid Under Section 536(2) of Companies Act, 1956.

The appeal arose from a judgment of the learned Company Judge allowing the Official Liquidator's report seeking a declaration that the sale of immovab...