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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Bombay High Court Quashes Show Cause Notice and Personal Hearing Notice Due to Inordinate Delay in Adjudication — Customs Act, 1962 — Delay of 16 Years in Remand Proceedings Violates Principles of Natural Justice and Fundamental Right to Speedy Adjudication

The petitioners, M/s. Esjaypee Impex Pvt. Ltd. and its Managing Director, challenged a show cause notice dated 24.09.2003 and a personal hearing notic...

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Bombay High Court Dismisses Suit for Money Decree Based on Oral Agreement Allegedly Contradicting Written MOU. Plaintiff's claim for consideration under oral agreement fails as MOU silent on consideration and evidence insufficient to prove oral agreement.

The Plaintiff, Bharat Nathalal Kansara, filed a suit in the Bombay High Court against his brothers, Praful Nathalal Kansara and another, seeking a mon...

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Bombay High Court Partially Sets Aside Arbitration Award Against Guarantors in Cooperative Bank Dispute — Guarantors Not Liable for Enhanced Credit Facility Without Their Consent. Guarantor Liability Cannot Be Extended Beyond Original Guarantee Under Section 34 of Arbitration and Conciliation Act, 1996.

The judgment concerns two arbitration petitions filed under Section 34 of the Arbitration and Conciliation Act, 1996, challenging a common undated arb...

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NCLAT Dismisses Appeal Against Approval of Resolution Plan in CIRP of Tiffins Barytes Asbestos & Paints Ltd. — Challenge to Recall of Order Rejected as Time-Barred and Without Merit.

The appellant, Hero Exports, challenged the order of the National Company Law Tribunal (NCLT), Chennai, dated 12.06.2019 approving the resolution plan...

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High Court of Karnataka Dismisses Appeal Against Arbitral Award Due to Limitation Bar. Delay of 85 Days in Filing Appeal Under Section 37 of Arbitration and Conciliation Act Not Condoned for Lack of Sufficient Cause.

The present appeal was filed under Section 37 of the Arbitration and Conciliation Act, 1996 read with Section 13(1-A) of the Commercial Courts Act, 20...