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High Court of Karnataka Allows Canara Bank's Appeal Against Refund Order in SARFAESI Auction Dispute — Bank Not Obliged to Refund 25% Deposit When Auction Purchaser Defaults on Balance Payment.

The appellant, Canara Bank, conducted an e-auction on 29 November 2021 of a property under the Securitisation and Reconstruction of Financial Assets a...

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Bombay High Court Adjudicates Writ Petitions Filed by Depositors of PMC Bank Seeking Relief from Withdrawal Restrictions. Court Examines Validity of RBI Directions and Protection of Depositors' Interests under Relevant Banking and Co-operative Laws.

A batch of writ petitions and a public interest litigation were filed before the Bombay High Court by various depositors and account holders of the Pu...

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Supreme Court Allows Bank's Appeal in SARFAESI Auction Dispute — Extension of Time Not Binding Without Confirmation Letter. Forfeiture of Earnest Money Upheld Under Rule 9(5) of Security Interest (Enforcement) Rules, 2002.

The Supreme Court allowed the appeal filed by the State Bank of India (the Bank) against the judgment of the Madras High Court. The dispute arose from...

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Bombay High Court Dismisses Occupier's Challenge to Deposit Condition in Property Tax Appeal. Section 217(5) of Mumbai Municipal Corporation Act, 1888 Allows Appellate Court to Impose Deposit Condition Despite Section 209(3) Limitation on Occupier's Liability.

The petitioners, Dena Bank and its manager, filed a writ petition under Article 227 of the Constitution of India challenging an order dated 26 March 2...

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High Court Quashes Stay Order in GST Appeal for Lack of Jurisdiction — Mandamus Issued to Admit Appeal. Pre-deposit condition under Section 107(6) of CGST/SGST Acts 2017 cannot be imposed by appellate authority without first admitting the appeal.

The petitioner, M/S Tejas Arecanut Traders, a proprietary concern engaged in the business of arecanut trading, filed a writ petition under Articles 22...

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Bombay High Court Considers Validity of DRAT Orders on Pre-Deposit Waiver and Status Quo in Secured Asset Auction. Legal Question Concerns Applicability of Section 18 Pre-Deposit Requirement to Appeals Dismissing Condonation of Delay and Challenging Sale Certificate.

The judgment concerns two writ petitions filed by an auction purchaser (Aloukik Construwell LLP) and a secured creditor (HDFC Bank Limited) challengin...

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Supreme Court Upholds 10% Deposit Condition in Arbitration Clause as Valid in Commercial Contracts. Clause requiring deposit-at-call of 10% of claim amount before invoking arbitration is not arbitrary or discriminatory under Article 14.

The case arose from a tender issued in 2008 by the Punjab State Water Supply & Sewerage Board for water supply and sewerage projects. The appellant, M...