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Bombay High Court Dismisses Petition Challenging Arbitrator's Interim Award on Limitation in Commercial Arbitration. Winding Up Proceedings Constitute Civil Proceedings for Exclusion of Time Under Section 14 of Limitation Act, 1963.

The dispute arose from a purchase order dated 24 June 2013 placed by Tata Consultancy Services Ltd. (petitioner) on Inspira IT Products Pvt. Ltd. (res...

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High Court of Karnataka Dismisses Revision Petition in Cheque Bounce Case — Conviction Under Section 138 of Negotiable Instruments Act, 1881 Upheld. Presumption of Legally Enforceable Debt Under Section 139 NI Act Not Rebutted by Accused.

The petitioners, accused Nos.1 and 2, were convicted by the LVII Additional Chief Metropolitan Magistrate, Mayo Hall unit, Bengaluru in C.C.No.53439/2...

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Supreme Court Allows Company's Appeal in Section 630 Companies Act Case — Former Director Must Vacate Property. Company's Right to Recover Property from Erstwhile Officer Upheld Despite Lack of Registered Title.

The Supreme Court allowed the appeal filed by Hooghly Mills Company Ltd. against the judgment of the Calcutta High Court, which had quashed the orders...

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Bombay High Court Dismisses Winding Up Petition in Power Supply Dispute Due to Bona Fide Dispute. Debt under Section 433(e) of Companies Act, 1956 not recoverable via winding up when substantial defense exists.

The petitioner, Vedanta Limited, filed a company petition seeking winding up of the respondent, Global Energy Private Limited, under Section 433(e) of...

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Bombay High Court Dismisses Petitions Challenging Process in Dishonour of Cheque Cases Against Directors of Co-operative Society. Vicarious Liability Under Section 141 of Negotiable Instruments Act, 1881 Requires Specific Averments of Role in Day-to-Day Affairs.

The judgment arises from two criminal writ petitions filed by the petitioners, who are directors of a co-operative society, challenging the orders pas...

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Bombay High Court Dismisses Writ Petitions Against DRT Order in Debt Recovery Case — Bank Entitled to Recover Debt Under RDB Act. DRT Has Inherent Power to Reject Frivolous Counterclaim Without Recording Evidence, and High Court Should Not Interfere When Alternative Remedy of Appeal Exists.

The case involves two writ petitions arising from proceedings before the Debt Recovery Tribunal (DRT) under the Recovery of Debts Due to Banks and Fin...

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Bombay High Court Allows SICOM's Petition Against Guarantors Under Section 31(1)(aa) of SFC Act for Recovery of Loan Default. Guarantors Held Liable Under Unconditional Guarantee Deed for Repayment of Term Loan.

The petitioner, SICOM Limited, a deemed State Financial Corporation under Section 46 of the State Financial Corporation Act, 1951, filed a petition un...