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High Court of Bombay Allows Secured Creditor's Appeal Against Direction to Deposit Title Deeds in Insolvency — Official Assignee Cannot Demand Title Deeds Without Adjudication of Mortgage Validity Under Presidency Towns Insolvency Act, 1909.

The appeal was filed by Punjab National Bank (the appellant) against an order of a learned Single Judge of the Bombay High Court in Official Assignee'...

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Bombay High Court Dismisses Appeal Under Section 37 of Arbitration Act, Upholds Single Judge's Order Partially Setting Aside Arbitral Award. The Court affirmed reduction of interest rate from 18% to 12% per annum and setting aside of claim nos. (d) and (g) and interest on security deposit.

The case involves an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, filed by Indian Oil Corporation Ltd. (IOCL) against a judg...

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Bombay High Court Dismisses Suit for Lack of Jurisdiction in Bank Guarantee Dispute — Exclusive Jurisdiction Clause in Contract Confers Jurisdiction on Chennai Courts. Plaintiff L&T's Suit Challenging Invocation of Performance Bank Guarantee Dismissed as Bombay High Court Has No Territorial Jurisdiction.

The plaintiff, Larsen & Toubro Limited (L&T), filed a suit in the Bombay High Court seeking a declaration that the invocation of a Performance Bank Gu...

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Bombay High Court Dismisses Winding-Up Petition by Deutsche Bank Against Finolex Industries Under Section 433(e) Companies Act, 1956 — Disputed Derivative Transaction Debt Precludes Summary Winding-Up. Court Holds That Winding-Up Petition Is Not a Debt Recovery Mechanism and Dismisses Petition with Costs.

The judgment arises from a Company Petition filed by Deutsche Bank AG, Mumbai Branch, seeking winding-up of Finolex Industries Limited under Section 4...

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Bombay High Court Grants Anticipatory Bail to Municipal Councilors in Corruption Case — No Prima Facie Case of Criminal Conspiracy Established. Court held that mere presence at a meeting does not constitute criminal conspiracy under Section 120-B IPC without evidence of prior agreement.

The judgment concerns three criminal applications filed under Section 438 of the Code of Criminal Procedure, 1973, seeking anticipatory bail. The appl...

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Bombay High Court Acquits Accused in Village Pond Fish Killing Case Due to Lack of Evidence of Poisoning. Conviction under Section 429 IPC and Section 54 of the Bombay Fisheries Act, 1959 set aside as prosecution failed to prove that fish were killed by poison.

The case pertains to an incident in village Koper, Panvel Taluka, Raigad District, where the village pond was auctioned for fishing rights on 4.6.1995...