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Bombay High Court Allows SFC's Claim for Priority Over Central Excise Dues in Recovery from Borrower's Assets. State Financial Corporation's Statutory Charge Under Section 29 of SFC Act, 1951 Prevails Over Crown Debt Under Central Excise Act, 1944.

The petitioner, SICOM Ltd., a State Financial Corporation established under the State Financial Corporations Act, 1951, advanced a term loan of Rs. 51...

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Supreme Court Dismisses Special Leave Petitions in Housing Society Fraud Case -- Upholds High Court's Order Directing Homebuyers to Approach Housing Commissioner and File Civil Suit

The Supreme Court dismissed special leave petitions filed by homebuyers against the High Court's order in a housing society fraud case. The petitioner...

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High Court of Bombay at Goa Upholds Conviction in Cheque Dishonour Case — Presumption Under Section 139 NI Act Not Rebutted. Accused Failed to Prove Defence of Blank Cheque Given as Security, Leading to Confirmation of Sentence Under Section 138 of Negotiable Instruments Act, 1881.

The case arises from a complaint filed by the respondent (complainant) against the petitioner (accused) under Section 138 of the Negotiable Instrument...

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NCLAT Upholds Admission of CIRP Against Corporate Debtor Under Section 7 of IBC, 2016 — Asset Reconstruction Company Held to be Financial Creditor and Application Not Barred by Limitation.

The appeal was filed by the suspended director of M/s. Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) against the order of the Nat...

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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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Bombay High Court Allows Revision Application and Discharges Accused in Abetment of Suicide Case Due to Lack of Evidence of Instigation or Harassment. Allegations of money lending and harassment not substantiated by material on record to frame charge under Section 306 IPC.

The case involves a criminal revision application filed by Gurunath Laxman Gawli and Sangita Gurunath Gawli, who were accused in Crime No.455 of 2014 ...

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Madras High Court Dismisses Petitions Challenging Package Tendering System for Road Works. Policy Decision to Reintroduce Package System Upheld as Valid Executive Action Under Article 226 of Constitution of India.

The case involves a batch of writ petitions filed by individual contractors challenging the Government Order G.O.(Ms) No.162, Highways & Minor Ports (...