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Supreme Court Allows IDBI Bank's Appeal in Winding Up Case — Revival of Winding Up Proceedings Set Aside and Sale Deed Directed to Be Executed. Agreement to Sell Not Fraudulent Preference Under Section 531 of Companies Act, 1956 as Executed Beyond Six-Month Period and Bona Fide.

The Supreme Court considered two appeals by IDBI Bank (erstwhile United Western Bank) against judgments of the Madras High Court relating to the windi...

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Bombay High Court at Goa Dismisses Petition Challenging Appointment of Court Receiver in Partnership Dispute. Appointment of Receiver Upheld as Proper Exercise of Discretion Under Order 40 Rule 1 CPC in a Suit for Dissolution of Partnership.

The petitioners, who were defendants in a suit for dissolution of partnership and accounts, challenged the appointment of a Court Receiver over the pa...

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Bombay High Court Allows Appeal in Partnership Dispute — Plaintiff Entitled to Possession of Business and Premises. Court holds that a partnership at will can be dissolved by notice and the plaintiff as sole proprietor is entitled to recover possession from the defendant who was a partner.

The appellant, Chandrakant Kanoji Parab, filed a suit for recovery of possession of a business called M/s Ramesh Electric Works and the premises where...

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Supreme Court Hears Writ Petition by Presiding Officers Seeking 6th Pay Commission Pay Scales for CGIT-cum-Labour Courts. Petitioners Claim Parity with Other Central Tribunals and Challenge Grouping with District Judiciary Under Articles 14 and 16 of Constitution.

The writ petition under Article 32 of the Constitution was filed by two Presiding Officers of Central Government Industrial Tribunals-cum-Labour Court...

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Bombay High Court Allows Appeal in Central Excise Classification Dispute — Interest Not Payable Without Specific Provision. Held that Section 11AA of Central Excise Act, 1944 does not apply to Additional Duties under ADE (T&TA) Act, 1978, and interest cannot be levied in absence of charging provision.

The appellant, Indo Swiss Embroidery Industries Limited, is engaged in manufacturing embroidered grey fabrics classified under Chapter Sub Heading 580...

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Bombay High Court Dismisses Winding Up Petitions Against GOL Offshore Ltd. Due to Bona Fide Dispute and Absence of Commercial Insolvency. Debt Not Due and Payable Under Section 433(e) of Companies Act, 1956.

The judgment concerns two winding up petitions filed by Export-Import Bank of India and Punjab National Bank (International) Ltd. against GOL Offshore...

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Bombay High Court Dismisses Appeals of Retired Employees Against Cooperative Bank's SARFAESI Recovery Proceedings. Employees Held Not to Be 'Borrowers' and Lack Locus Standi to Challenge Auction Sale Without Payment of Dues.

The judgment pertains to a batch of Letters Patent Appeals filed by retired employees of Shamrao Vithal Cooperative Bank Ltd. against the dismissal of...