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Bombay High Court Adjudicates Application for Enforcement of Scheme in Sanghi Motors (Bombay) Limited. Scheme formulated under Sections 397, 398, 402 of Companies Act, 1956 involves transfer of oxygen undertaking assets and cylinders.

The matter pertains to Company Application No.328 of 1990 arising out of Company Petition No.128 of 1985, filed before the High Court of Judicature at...

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Supreme Court Dismisses Appeal Against Initiation of CIRP Against Corporate Debtor Despite Payment by Guarantor's Resolution Applicant. Right of Subrogation Under Section 140 of Indian Contract Act, 1872 Not Available Where Resolution Plan Extinguishes Guarantee and No Payment of Entire Debt.

The case involves an appeal against the initiation of Corporate Insolvency Resolution Process (CIRP) against the 2nd respondent, Gujarat Hydrocarbon a...

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Bombay High Court Dismisses Writ Petition Challenging Rejection of Plaint in SARFAESI Act Dispute — Civil Suit Barred Under Section 34 of SARFAESI Act, 2002. Shareholder's Allegations of Fraud Do Not Override Statutory Bar When Secured Assets Are Involved.

The petitioner, Shashikant Gangar, a shareholder and director of Libox Chem (India) Private Limited (respondent no. 2), filed a writ petition challeng...

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Bombay High Court Upholds Specific Performance Decree Based on Oral Agreement — Concurrent Findings of Fact Not Interfered With in Second Appeal. Oral Agreement for Sale of Immovable Property Proved by Evidence; Written Document Dated 31.12.1973 Did Not Supersede Earlier Oral Agreement.

The case involves a second appeal filed by the defendants challenging concurrent judgments and decrees passed for specific performance of an agreement...

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Bombay High Court Quashes Summoning of Insurance Company Employees for Election Duties. Government Company Not a Local Authority Under Section 29 of Representation of the People Act, 1950.

The petitioner, The Oriental Insurance Company Limited, a Government company registered under the Indian Companies Act, 1913, filed a writ petition ch...

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Bombay High Court Dismisses Second Appeal, Upholds Specific Performance Decree for Oral Agreement to Sell Land. Concurrent Findings of Fact Not Interfered With as Plaintiff Proved Readiness and Willingness Under Section 16(c) of Specific Relief Act, 1963.

This second appeal arises from a suit for specific performance of an oral agreement to sell agricultural land. The plaintiff (now represented by legal...

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Bombay High Court Dismisses Second Appeal in Specific Performance Suit — Concurrent Findings of Fact Not Disturbed. Agreement to Sell Proved, Limitation and Benami Transaction Objections Rejected.

The case involves a second appeal filed by the defendants (appellants) against a decree for specific performance of an agreement to sell immovable pro...

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Bombay High Court Allows Discharge of Chartered Accountant in Financial Fraud Case Due to Lack of Prima Facie Evidence. Professional Advice Without Specific Role in Siphoning Funds Does Not Attract Criminal Liability Under RBI Act and SEBI Act.

The applicant, Parag Raman Hangekar, a chartered accountant, filed a criminal revision application against the order of the Special Judge (Additional ...