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Bombay High Court Dismisses Petition Challenging Substitution of Assignee in Pending DRT Proceedings Under SARFAESI Act. Assignment of debt under Section 5 of SARFAESI Act entitles assignee to continue pending recovery proceedings without fresh filing, and amendment of cause title is permissible.

The petitioner, Alpha and Omega Diagnostics India Ltd., challenged a common order of the Debt Recovery Appellate Tribunal (DRAT) which upheld the orde...

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Bombay High Court Allows Appeals Against Appointment of Court Receiver in Favor of Appellants in Commercial Suits Involving Secured Creditors. Appointment of receiver without notice and without considering secured creditors' rights under SARFAESI Act is unsustainable.

The judgment arises from two commercial appeals filed by Future Corporate Resources Pvt Ltd and Ojas Tradelease And Mall Management Pvt Ltd against or...

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Bombay High Court Upholds Interim Order for Deposit of Security Deposit in Arbitration Dispute — Essar House Private Limited v. Arcellor Mittal Nippon Steel India Limited

The case involves two appeals filed under Section 37 of the Arbitration and Conciliation Act, 1996, by Essar House Private Limited and Essar Services ...

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Bombay High Court Hears Suit for Redemption of Pledged Securities After Loan Default; Plaintiffs Abandoned Main Claim of Transfer Agreement. Pledge Agreement Clause 14(ii) Notice and Default by Pledgor Form Core of Dispute Over Shares of Sesa Sterlite.

The suit was filed by Harinarayan G. Bajaj and others against Reliance Capital Limited and Sesa Sterlite Limited. Plaintiffs borrowed a total of Rs.10...