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Bombay High Court Allows SICOM's Petition Against Guarantors Under Section 31(1)(aa) of SFC Act for Recovery of Loan Default. Guarantors Held Liable Under Unconditional Guarantee Deed for Repayment of Term Loan.

The petitioner, SICOM Limited, a deemed State Financial Corporation under Section 46 of the State Financial Corporation Act, 1951, filed a petition un...

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Bombay High Court Dismisses Petition Challenging State Labour Court Jurisdiction in Salary Recovery Dispute. Non-scheduled air transport service not covered by Central Government's definition under Section 2(a)(i) of Industrial Disputes Act, 1947, hence State Labour Court has jurisdiction.

The petitioner, MESCO Airlines Limited, an air transport company holding a license for non-scheduled air transport service under the Aircraft Rules, 1...

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Bombay High Court Dismisses Appeal Against Summary Judgment in Bank Guarantee Enforcement Case. Court holds that invocation of bank guarantee is independent of underlying contract disputes and must be honoured unless fraud or irretrievable injustice is established.

The case arises from a summary suit filed by Bank of India (the respondent) against the appellants, who were the original defendants, for enforcement ...

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Bombay High Court Allows Appeal Against Injunction on Bank Guarantee Invocation in Contract Dispute. Bank Guarantee is Independent Contract; No Fraud or Irretrievable Injustice Shown.

The appellant, VKE Plumbing Private Limited, was awarded a contract by respondent No.1, Blue Ridge Hotels Private Limited, for plumbing and fire fight...

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Bombay High Court Dismisses Writ Petition Challenging SARFAESI Proceedings Against Partnership Firm and Guarantors. SARFAESI Act Section 13(2) Notice Validly Issued Against Principal Borrower and Guarantors, and Section 17 Application Before DRT Is the Appropriate Remedy.

The petitioners, M/s. Otoklin Global Business (a partnership firm) and its partner Mr. Dhaval Dilip Jhaveri, filed a writ petition under Article 226 o...

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High Court Quashes GST Seizure Orders and Directs Release of Cash with Interest in Writ Petition. Seizure of INR 1 Crore Held Illegal as Cash Not Covered Under Section 67(2) of Central Goods and Services Tax Act, 2017 Due to Lack of 'Reasons to Believe' and Procedural Non-Compliance.

The dispute arose from a writ petition filed by Petitioner, a proprietor registered under the GST Act, challenging two seizure orders dated 27th and 2...

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High Court of Karnataka Allows Appeal in Insurance Claim Dispute — National Textile Corporation Ltd. v. United India Insurance Co. Ltd. & Anr. — Held that the Trial Court erred in dismissing the suit for recovery of money without considering the evidence on record and the terms of the insurance policy.

The appellant, National Textile Corporation Ltd., a government company, filed a suit for recovery of money against the respondents, United India Insur...