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High Court of Karnataka Allows Appeal by Liquidator in Recovery Suit Against Bank for Wrongful Payment After Liquidation — Bank Liable to Pay Fixed Deposit Amount to Liquidator Despite Payment to Company Director After Winding Up.

The plaintiff, Gowribidanur Sahakara Sakkare Karkhane Ltd., a co-operative society under liquidation, filed a suit for recovery of money against India...

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Bombay High Court Dismisses Suit for Lack of Jurisdiction in Bank Guarantee Dispute — Exclusive Jurisdiction Clause in Contract Confers Jurisdiction on Chennai Courts. Plaintiff L&T's Suit Challenging Invocation of Performance Bank Guarantee Dismissed as Bombay High Court Has No Territorial Jurisdiction.

The plaintiff, Larsen & Toubro Limited (L&T), filed a suit in the Bombay High Court seeking a declaration that the invocation of a Performance Bank Gu...

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Bombay High Court Dismisses Appeal Against Refusal to Revoke Leave Under Clause XII Letters Patent in Summary Suit on Guarantee. Jurisdiction upheld as part of cause of action arose in Mumbai due to disbursement and part payments.

The appeal arose from a summary suit filed by Rabo India Finance Limited (Plaintiff) against Gouri Prasad Goenka (Defendant) based on guarantees execu...

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Supreme Court Allows Appointment of Arbitrator in Dispute Over Encashment of Performance Bank Guarantee After Full Contractual Performance. Arbitration Clause Covers Dispute Despite Completion of Contract and Payment.

The petitioner, M/S Glock Asia-Pacific Ltd., filed an application under Section 11(6) of the Arbitration and Conciliation Act, 1996, seeking appointme...

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Bombay High Court Quashes Termination of Lease for Delay in Hotel Construction Due to Economic Slowdown and Infrastructure Delays. Extension of Time Granted Without Additional Premium Under Agreement to Lease.

The petitioners, M/s. PVP Star Hotels Private Limited and its director, filed a writ petition under Articles 226 and 227 of the Constitution of India ...