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Bombay High Court Allows Secured Creditor's Priority Over Sales Tax Dues in MVAT Act Attachment Dispute. State Bank of India's mortgage charge on borrower's property held superior to VAT recovery under Section 32 of MVAT Act, 2002, following Central Bank of India v. State of Kerala ratio.

The State Bank of India (SBI), a secured creditor, filed a writ petition under Article 226 of the Constitution challenging the attachment of a propert...

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High Court of Bombay Considers Auction Purchaser's Writ Petition for Physical Possession Under SARFAESI Act. Petition Filed by Auction Purchasers Seeking to Enforce Registered Sale Certificate and Section 14 Order Despite Borrower's Pending Appeal Against DRT Order.

The writ petition was filed by auction purchasers who had purchased a secured asset in an e-auction conducted by respondent No.2 bank under the SARFAE...

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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 Examines Whether Assignee Bank Can Invoke SARFAESI Act for Debt Assigned by NBFC. The case involves interpretation of 'debt' and 'secured creditor' under SARFAESI Act, 2002 and RDDBFI Act, 1993, and the effect of assignment from a non-banking financial company to a bank.

The petitioner, a banking company, sought to enforce security interest under the SARFAESI Act after acquiring a debt and underlying security from a no...

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High Court of Bombay Hears Writ Petition Seeking Quashing of Order and Reference under Section 92BA(i) of Income Tax Act, 1961. Petitioner challenges classification of three transactions as Specified Domestic Transactions based on related party and expenditure definitions.

The petitioner, HDFC Bank Ltd., a banking company, filed a writ petition under Article 226 challenging an order and reference passed by the Assistant ...

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Bombay High Court Allows Revenue's Appeal in Section 50C Valuation Dispute, Remands Case for Fresh Adjudication. ITAT's Rejection of Valuation Officer's Report without Hearing Violated Audi Alteram Partem Under Income Tax Act.

The dispute arose from an income tax appeal filed by the Revenue against an order of the Income Tax Appellate Tribunal (ITAT) dated 3 July 2009. The a...