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Bombay High Court Allows Appeal in Part in Flat Purchase Dispute — Earnest Money Refund with Daily Fine and Compound Interest Upheld but Reduced. Clause 4 of Agreement for Construction and Sale Held to Be a Valid Forfeiture Clause, Not a Penalty, Under Section 74 of the Indian Contract Act, 1872.

The plaintiff, Dr. Jagdish J.N. Counte, entered into a written agreement dated 13.4.96 with the defendant, M/s. Carl Estate Private Limited, for the p...

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Supreme Court Allows Co-operative Bank Appeal Against Sureties -- Holds Sureties Liable for Original Loan Under Section 133 of Indian Contract Act, 1872 -- Gujarat High Court Order Set Aside in Recovery Dispute

The Supreme Court allowed appeal by Appellant against High Court order that discharged sureties from all liability -- The Court held that under Sectio...

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Bombay High Court Upholds Specific Performance of Agreement for Sale in Favor of Flat Purchaser Against Developer and Subsequent Purchasers. Agreement for Sale dated 6th March 1980 declared valid and binding, subsequent agreement dated 4th April 1988 declared bogus and invalid.

The case involves a dispute over the specific performance of an agreement for sale of a flat. The flat purchaser, Dr. Arun Subrao Prabhu, entered into...

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Recovery of Time-Barred Debts under the Haryana Public Moneys (Recovery of Dues) Act, 1979: Resolving Legal Ambiguities and Clarifying Recovery Mechanisms Navigating the Intersection of Statutes of Limitation and Debt Recovery in India

Recovery of Time-Barred Debts under the Haryana Public Moneys (Recovery of Dues) Act, 1979: Appeals arising from judgments of the High Court of Punja...

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Bombay High Court Dismisses Winding-Up Petition Against Sundeep Polymers Due to Bona Fide Dispute Over Hire Purchase Agreement. Dispute Regarding Defective Vehicle and Pending Consumer Complaint Constitutes Substantial Grounds, Not a Mere Debt Acknowledgment.

The petitioning-creditor, Tata Motors Ltd (formerly Tata Finance Ltd), filed a winding-up petition under sections 433 and 434 of the Companies Act, 19...

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Bombay High Court Dismisses Petition Challenging Licence Revocation for Non-Payment of Stallage Charges. Licence Cancellation for Breach of Payment Conditions Upheld as Petitioner Failed to Pay Dues Despite Multiple Notices Under Sections 401, 411, 479 of Mumbai Municipal Corporation Act, 1888.

The petitioner, Dilip Vasant Shinde, was allotted Shop No.55 in Hirachand Desai Municipal Market, Ghatkopar, Mumbai, in 1988 on a licence issued under...

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Supreme Court Dismisses Appeals of Industrial Units Seeking Rebate on Electricity Tariff in Goa. Rebate Scheme Rescinded Before Power Connections; Subsequent Notifications Declared Void Ab Initio.

The Supreme Court dismissed a batch of civil appeals filed by industrial units (Puja Ferro Alloys P Ltd., Karthik Alloys Ltd., Karthik Inductions Ltd....

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Supreme Court Upholds Revenue's Treatment of Profit-Sharing Payment as Capital Expenditure under Income-tax Act, 1922. Payment of Annual Percentage of Net Profits to Seller Government for Acquisition of Industrial Undertakings Held Capital in Nature, Not Revenue Deduction Under Section 10(2)(xv).

The appellant company, Travancore Sugars and Chemicals Ltd., was formed to take over certain industrial undertakings from the Government of the erstwh...

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Supreme Court Remands Electricity Theft Case to High Court for Fresh Consideration Under Section 152 of Electricity Act, 2003. Settlement in Lok Adalat does not automatically quash FIR; compounding provisions must be examined.

The appellant, Mukesh Chand, was a consumer of electricity who obtained a connection from BSES Rajdhani Power Limited for his business premises. BSES ...