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Supreme Court Allows Appeal in Recovery Suit — Holds That High Court Erred in Dismissing Suit on Grounds Not Raised in Pleadings and Without Considering Documentary Evidence. The Court restored the decree for recovery of Rs.96,41,765.31 with interest at 15% per annum from the date of suit till payment.

The appellant, M/s Star Paper Mills Limited, filed a suit for recovery of Rs.96,41,765.31 against the respondents, M/s Beharilal Madanlal Jaipuria Ltd...

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Supreme Court Allows IDBI Bank's Appeal in Winding Up Case — Revival of Winding Up Proceedings Set Aside and Sale Deed Directed to Be Executed. Agreement to Sell Not Fraudulent Preference Under Section 531 of Companies Act, 1956 as Executed Beyond Six-Month Period and Bona Fide.

The Supreme Court considered two appeals by IDBI Bank (erstwhile United Western Bank) against judgments of the Madras High Court relating to the windi...

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Bombay High Court Quashes Sales Tax Attachment Over Bank's Secured Assets Under SARFAESI Act — Priority of Secured Creditor Upheld. Section 26E of SARFAESI Act gives priority to secured creditors over crown debts, and attachment by sales tax authorities cannot defeat the bank's security interest.

The petitioner, Union Bank of India, filed a writ petition under Article 226 of the Constitution of India seeking to quash an attachment order dated 2...

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High Court of Bombay Issues Rule and Hears Matter Finally in Writ Petition Challenging MSEDCL Communication. The Court Decides the Petition Under Article 226 of the Constitution with Consent of Parties After Respondents Waive Service.

The petitioners, a private limited company and its shareholder, filed a writ petition under Article 226 of the Constitution of India before the High C...

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High Court of Karnataka Delivers Judgment in Regular First Appeal No.964/2006 Against Dismissal of Permanent Injunction Suit. The Appeal Involves Dispute Over Possession of Land Allotted by Bangalore Development Authority to a Co-operative Housing Society.

The appellant, Telecom Employees Co-operative Housing Society Limited, a co-operative society, filed a suit for permanent injunction against the respo...

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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 Dismisses Appeal Under MPID Act Seeking Release of Attached Property — Property Acquired During Pendency of Criminal Proceedings Cannot Be Claimed as Bona Fide Purchaser Without Notice.

The case involves an appeal filed by Ved Prakash Arya under Section 11 of the Maharashtra Protection of Interest of Depositors (in Financial Establish...

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Bombay High Court Adjudicates Appeal Under Section 14 of Admiralty Act Against Single Judge Order Dismissing Defendant's Notice of Motion. The dispute concerned breach of a bareboat charterparty and a subsequent time charterparty regarding a vessel.

The original plaintiff, Siem Offshore Rederi AS, a Norwegian company, filed Admiralty Suit (L) No. 20 of 2018 before the Bombay High Court against the...