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Bombay High Court Allows Petitioner's Petition for Extension of Bank Guarantee Pending Challenge to Arbitral Award — Section 9 of Arbitration and Conciliation Act, 1996. Post-award interim protection can be granted under Section 9 to preserve the subject matter of arbitration pending challenge to award.

The petitioner, Oil and Natural Gas Corporation Limited (ONGC), filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seekin...

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Bombay High Court Dismisses Certificate Debtors' Challenge to Auction Sale Under SARFAESI Act — Sale Confirmed and Possession Delivered. Court Held That Remedy Under Section 17 of SARFAESI Act Is Not Available After Sale Certificate Is Issued.

The petitioners, original certificate debtors, challenged the auction sale of their property conducted by Punjab National Bank under the Securitisatio...

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Bombay High Court Dismisses Petition Challenging Return of Plaint in Co-operative Dispute Over OTS. Guarantor's Dispute Under Section 91 of Maharashtra Co-operative Societies Act, 1960 Held Not Maintainable After Issuance of Recovery Certificate Under Section 101.

The petitioners, Mr. Sadanand Belvalkar and another, were guarantors to a loan sanctioned by Vidya Sahakari Bank Limited (respondent no. 2) to M/s Mbe...

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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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Bombay High Court Dismisses Writ Petition Challenging Rejection of Interim Stay in Cooperative Society Recovery Proceedings. Petitioner Failed to Demonstrate Prima Facie Case or Irreparable Loss in Auction of Mortgaged Property Under Maharashtra Cooperative Societies Act, 1960.

The petitioner, Shri Shrirang Gajanan Hole, a member of Respondent No.2 Society (Ujani Mahila Gramin Bigarsheti Sahakari Patsanstha Maryadit), challen...

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Bombay High Court Dismisses Applications to Recall Consent Terms and Set Aside Consent Decrees in Property Disputes Between Family Members. Court Holds That Consent Terms Recorded by Counsel Are Binding on Parties and Cannot Be Challenged on Grounds of Fraud Without Proper Pleadings and Evidence.

The judgment pertains to two Notice of Motions filed by the defendants in two separate suits seeking recall and setting aside of consent terms and con...