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Bombay High Court Dismisses Petition Challenging Nationalisation of Textile Mill Under Sick Textile Undertakings (Nationalisation) Act, 1974. Court upholds validity of notification taking over management of Elphinstone Spinning and Weaving Mills Co. Ltd. as a sick textile undertaking.

The petitioners, Elphinstone Spinning and Weaving Mills Co. Ltd. and its director Ashok Kumar Jalan, filed a writ petition challenging the notificatio...

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Bombay High Court Upholds Constitutional Validity of MVAT Provisions on Input Tax Credit Reversal for Capital Goods Sold as Scrap. Section 48(5) of MVAT Act, 2002 and Rule 58A of MVAT Rules, 2005 held intra vires the Constitution and not ultra vires the parent Act.

The judgment concerns a batch of writ petitions filed by various companies challenging the constitutional validity of Section 48(5) of the Maharashtra...

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Bombay High Court Dismisses Petitions Challenging RBI Circular Excluding Primary Cooperative Credit Societies from Deposit Insurance Coverage. Circular dated 22.02.2008 Held Valid as It Merely Clarifies Existing Definition Under Section 2(g) of DICGC Act, 1961.

The judgment concerns two writ petitions filed by cooperative credit societies challenging a circular dated 22.02.2008 issued by the Reserve Bank of I...

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Bombay High Court Dismisses Appeal by Lenders Against Order Setting Aside Sale of Mortgaged Property Under SARFAESI Act — Held That Sale Was Not Conducted in a Fair and Transparent Manner and That the Borrower Was Not Given Adequate Notice of the Sale.

The case involves an appeal by a consortium of banks and a trustee company (the lenders) against an order of the Debt Recovery Tribunal (DRT) setting ...

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Bombay High Court Dismisses Plaintiff's Suit Seeking Removal of Managing Director on Ground of Age Limit Under Companies Act, 2013. Section 196(3)(a) of Companies Act, 2013 Held Not Retrospective and Does Not Automatically Terminate Existing Appointments.

The plaintiff, a director of Ultramarine & Pigments Limited, filed a suit seeking an order to restrain the 2nd defendant, the Chairman and Managing Di...

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Bombay High Court Dismisses Suit by Minor Children Seeking to Set Aside Family Settlement — Memorandum of Family Settlement Held Binding as a Family Arrangement Under Contract Act and Specific Relief Act

The plaintiffs, four children of Madhupati and Anuradha Singhania (Defendants 1 and 2), filed a suit seeking cancellation of a Memorandum of Family Se...

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High Court of Karnataka Dismisses Appeal Challenging DICGC Act Provisions in Cooperative Bank Deposit Insurance Dispute. Sections 18A(5) and 21(3)(4) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, held constitutional and not arbitrary.

The appellant, Sri G.K. Gururaja Rao, Secretary of Sri Guru Raghavendra Sahakara Bank Niyamitha, filed a writ petition under Article 226 of the Consti...