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Bombay High Court Dismisses Appeal Against Encashment of Standby Letters of Credit in Commercial Dispute. Principle of Autonomy of Letters of Credit Upheld — Injunction Granted Only on Grounds of Fraud or Irreparable Injury, Not Breach of Underlying Contract.

The appellant, Drive India Enterprise Solutions Ltd., filed an appeal against the dismissal of its petition under Section 9 of the Arbitration and Con...

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Bombay High Court Quashes Bank's Wilful Defaulter Declaration for Violating Natural Justice. Show-cause notice lacking specific grounds renders the decision invalid under RBI Master Circular on Wilful Defaulters.

The petitioners, Nitin Shah, Rahul Shah, and Kunal Shah, who were directors of Nitin Fire Protection Industries Ltd. (the corporate debtor under CIRP)...

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Bombay High Court Allows Customs Appeal in Rig Import Valuation Case — Upholds Reassessment Based on Higher Transaction Value. Customs Duty Demand on 'Pride Pennsylvania' Rig Upheld as Invoice Value Not Sole Determinant Under Customs Act, 1962.

The Commissioner of Customs (Imports), Mumbai, appealed against the order of the Customs, Excise and Gold (Control) Appellate Tribunal (CEGAT) which h...

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Bombay High Court Dismisses Claims for Damages Against Plaintiff for Wrongful Arrest of Cargo in Admiralty Suit — Undertaking Under Rule 941 of Bombay High Court (OS) Rules Not Enforceable After Suit Withdrawal Without Adjudication on Merits.

The Plaintiff, Navbharat International Ltd., filed an admiralty suit and obtained an ex-parte order dated 12th January 2010 for arrest of cargo on boa...

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Bombay High Court Dismisses Appeal by Videocon Industries Against Winding Up Order for Non-Payment of Guarantee Debt to Italian Bank. Patronage Letter Held to Be a Guarantee Under Indian Contract Act, 1872, and Claim Not Time-Barred.

The case involves an appeal by Videocon Industries Limited against an order of the Company Judge directing payment of Rs.259.73 crores to Intesa Sanpa...

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Bombay High Court Allows Petition to Refer Parties to Arbitration in Commercial Dispute Over Unpaid Goods. Arbitration Clause in Purchase Orders Held Binding Despite Absence of Signed Agreement, as Parties Acted on Purchase Orders Containing Arbitration Clause.

The petitioners, Sai Wardha Power Ltd. and its directors, were original defendants in a civil suit filed by the respondent, M/s. Goyal Dhatu Udyog Pvt...

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Bombay High Court Dismisses Appeal Against Arbitral Tribunal's Interim Order in Arbitration Petition Under Section 37 of Arbitration and Conciliation Act, 1996. Court Holds That Scope of Interference Under Section 37 Is Limited and Impugned Order Did Not Suffer From Patent Illegality or Perversity.

The petitioners, Wind World (India) Limited and others, filed an arbitration petition under Section 37 of the Arbitration and Conciliation Act, 1996, ...