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Bombay High Court Considers Bank's Claim for Recovery of Dues from Export Company and its Director. Dispute Centers on Alleged Agreement to Debit Cash Credit Account Upon Dishonour of Foreign Bills Purchased Under FBP Facility.

The suit was filed by Bank of India to recover Rs.5,67,332.51 with interest at 19.5% per annum from B.C. Mody Exports P. Ltd. (defendant no.1) and its...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Independent Application of Mind. Reassessment Based on Borrowed Satisfaction and Non-Speaking Order on Objections Violates Principles of Natural Justice.

The petitioner, Arvind Sahdeo Gupta, challenged a notice dated 24/3/2020 issued under Section 148 of the Income Tax Act, 1961 by the Income Tax Office...

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Supreme Court Upholds Consumer Forum's Order in Favor of Construction Worker in Welfare Scheme Dispute. Token Contribution Under BOCW Act Constitutes Consideration, Making Worker a 'Consumer' Under Consumer Protection Act, 1986.

The Supreme Court of India adjudicated an appeal concerning whether a construction worker registered under the Building and Other Construction Workers...

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Bombay High Court Dismisses Revenue's Appeal in Central Excise Case on Unjust Enrichment. Bar of Unjust Enrichment Not Applicable to Provisional Assessment Cases Prior to Amendment of Rule 9B of Central Excise Rules, 1944.

The appeal was filed by the Commissioner of Central Excise, Mumbai-III Commissionerate, against the judgment of the Customs, Excise and Service Tax Ap...

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Bombay High Court Allows Appeal in Negotiable Instruments Act Case — Reinstates Conviction Under Section 138. Partial Recovery Before Cheque Issuance Does Not Rebut Presumption Under Section 139 N.I. Act When Cheque Covers Balance Due.

The appeal arises from a judgment of the Sessions Court, Amravati, which set aside the conviction of the accused under Section 138 of the Negotiable I...

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High Court Quashes FIR Against Bank Officials and BGR Energy Executives in Bank Guarantee Dispute -- No Criminal Intent Found in Commercial Transaction Under IPC Sections 420, 403, 406, 418, 425, 427 read with 34

The High Court quashed an FIR registered against bank officials and company executives alleging criminal offences in connection with bank guarantee tr...

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High Court of Bombay at Nagpur Dismisses Writ Petition of Bank Officer Dismissed for Misconduct Involving Fake Accounts and Loan Fraud. The court upheld the disciplinary authority's decision, finding the punishment of dismissal proportionate to the gravity of the misconduct.

The petitioner, Rajendra Madhaorao Bhaware, was employed as an officer with the Chandrapur Gadchiroli Gramin Bank (Respondent No.1). The Bank noticed ...