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Judicial Scrutiny of RBI's Supersession of Abhyudaya Co-operative Bank's Board. Balance between Constitutional mandates and banking regulations reaffirmed.

The Bombay High Court assessed the legality of the Reserve Bank of India's (RBI) supersession of the Board of Directors of Abhyudaya Co-operative Bank...

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Bombay High Court Quashes Stamp Duty Demand Against IT Company in Lease Deed Classification Dispute. Lease Deed for Software Development Held Not a 'Building Lease' Under Maharashtra Stamp Act, 1958.

The petitioner, Synechron Technologies Pvt. Ltd., an IT company, challenged an order dated 15.10.2019 passed by the Chief Controlling Revenue Authorit...

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Karnataka High Court Allows Writ Appeals Against Single Judge Order in Company Dispute Over Bank Account Freezing. The court held that disputes regarding management of a company are not maintainable under writ jurisdiction and must be raised before the Company Law Board under the Companies Act, 2013.

The case involves two writ appeals filed by individuals against an order of a Single Judge of the Karnataka High Court in a writ petition filed by M/s...

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High Court of Karnataka Dismisses Intra-Court Appeal Against Look-Out Circulars Issued by Banks Due to Default of Rs.2800 Crores. Court Holds that Petitioner’s Concession to Banks’ Power and Pending Suits Justify Travel Restriction Under Office Memoranda.

The intra-court appeal arose from the dismissal of a writ petition that challenged two Look Out Circulars issued by Bank of Baroda and Punjab National...

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Bombay High Court Dismisses PIL Challenging Election Symbols Order and RP Act Provisions. Classification of Political Parties into Recognized and Unrecognized Held Valid Under Article 14.

The petitioner, Mr. Mrinall Shashi Shekhar Chakravorty, a social worker and businessman, filed a Public Interest Litigation (PIL) before the Bombay Hi...

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High Court of Judicature at Bombay Considers Winding Up Petition Based on Alleged Debt Arising Out of F&O Trades; Respondent Disputes Liability and Raises Counter-Claim for Damages

This company petition sought winding up of Prime Broking Company (India) Ltd under the Companies Act, 1956 on the ground of inability to pay debts. Th...