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High Court of Karnataka Directs Banks to Comply with RBI Prudential Framework for Stressed Assets Resolution in Writ Petition by Borrower Company. The court held that the RBI circular dated June 7, 2019, is binding on banks and that the borrower has a right to seek a review meeting under the framework.

The petitioner, Ganjam Nagappa and Son Private Limited, a company incorporated under the Companies Act, 1956, filed a writ petition under Articles 226...

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High Court of Karnataka Disposes Admiralty Suit as Settled Between Parties. Mutual Settlement Reached in Claim for Unpaid Wages and Arrest of Vessel M.V. Maharshi Mahatreya.

The petitioner, Sri. Rajkiran Sadanand Raikar, filed a civil petition under Sections 9 and 26 read with Order 7 Rule 1 of the Code of Civil Procedure,...

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Bombay High Court Upholds Enforcement of Foreign Judgment in Bunker Supply Dispute Despite Defendant's Challenges. Danish Supreme Court Judgment Held Conclusive Under Section 13 CPC as Defendant Failed to Prove Exceptions, Resulting in Decree for Balance Amount.

The dispute arose from a bunker supply transaction involving the vessel PFS NARAYANA. Dan Bunkering Limited, a Danish company, supplied bunkers to the...

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High Court of Karnataka Considers Writ Petition Against Industrial Tribunal Award on Retirement Age in Industrial Disputes Act Cases. Employee of Amalgamated Company Seeks Retirement at 58 Years Despite Unit-Specific Standing Orders of 55 Years.

The petitioner, a company incorporated under the Companies Act, 1956, operated two independent industrial establishments: the Hosur Road unit and the ...

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Bombay High Court Hears Defendants’ Interim Applications for Rejection of Plaint in Commercial Suit on Grounds of Non-Compliance with Section 12-A Commercial Courts Act, 2015 and Bar Under SARFAESI Act. Applications Filed by Financial Institution Defendants Against Real Estate Borrower Group.

The dispute arises from a commercial suit filed by the plaintiffs against three defendants, seeking specific performance of a Framework Agreement date...