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High Court of Bombay Considers Interim Motions in Suit by Foreign Trustees for Recovery of Assets Allegedly Concealed in India. The Court Examines Whether Plaintiffs Have Made Out Prima Facie Case for Disclosure and Deposit Orders Based on US Bankruptcy Court Findings.

The suit was filed by ITC Ltd., acting as trustees in bankruptcy of Suresh Chitalia, Devang Chitalia, EST Fibres Inc., and Lokman Establishment, to re...

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CUSTOMS APPEAL NO. 100 OF 2012

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KAHC010366622012_1

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Bombay High Court Dismisses Trust and Highest Bidder's Challenge to Joint Charity Commissioner's Order Rejecting Sale of Trust Property Under Section 36(1)(a) of Maharashtra Public Trusts Act, 1950 — Tender Process Found Lacking Wide Publicity and Transparency.

The case involves two writ petitions: one by M/s. Sai Builder and Developer (the highest bidder) and another by Vitthal Rukhmai Deosthan Trust (the Tr...

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ARBITRATION PETITION (L) NO. 1793 OF 2013

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Supreme Court Allows Appeal in Specific Performance Case — Time Was Essence of Contract; Forfeiture of Earnest Money Upheld. Breach by Buyer in Agreements to Sell Land in Gurgaon Leads to Dismissal of Suit for Specific Performance and Refund of Earnest Money.

The case involves a dispute over two agreements to sell agricultural land in Gurgaon, executed on 17.02.2004, between the appellants (sellers) and the...

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Bombay High Court Delivers Oral Judgment on Petitions Challenging SEBI's Show Cause Notices to Auditors of Satyam Computers. Question of SEBI's Jurisdiction under Sections 11, 11B, and 11(4) of SEBI Act Raised in Wake of Satyam Fraud Disclosure.

The matter arose from writ petitions filed by Price Waterhouse & Co. and other chartered accountant firms along with individual partners challenging t...