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High Court of Karnataka Quashes E-Auction Notice and Sale Certificate in SARFAESI Act Case Due to Violation of Rule 8(6) of Security Interest (Enforcement) Rules, 2002. Failure to Serve 30-Day Notice Before Auction Renders Sale Void.

The petitioners, Sri T.S. Nataraj, Sri Harsha N., and Smt. N. Seema, filed a writ petition under Articles 226 and 227 of the Constitution of India bef...

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Bombay High Court Passes Judgment on Enforcement of Foreign Arbitral Award under Sections 47-49 of the Arbitration and Conciliation Act, 1996. Dispute arose from Share Subscription Agreement and Put Option Deed involving investment exit rights.

The petitioner, Banyan Tree Growth Capital L.L.C., a Mauritian investment fund, had invested approximately USD 7.5 million in Axiom Cordages Limited, ...

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Bombay High Court Passes Order on Interim Plea Over Yes Bank Management Rights Claimed by Heirs of Ashok Kapur. Core Issue Involves Interpretation of Articles of Association Regarding Heritability of Co-founder's Defined Privileges Following His Death in 2008 Mumbai Terror Attacks.

The judgment deals with a Notice of Motion taken out by the legal heirs of late Ashok Kapur, co-founder of Yes Bank, who perished in the November 2008...

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Madras High Court Quashes Armed Forces Tribunal Order Granting Special Pension to Ex-Serviceman. Special Pension Under Para 164 of Pension Regulations for Army, 1961 is Discretionary and Not a Vested Right, Tribunal's Order Set Aside.

The High Court of Madras allowed a writ petition filed by the Union of India challenging the order of the Armed Forces Tribunal, Chennai Bench, which ...

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Supreme Court Allows Appeal in Income Tax Case: Subscriptions Received Under Collective Investment Schemes Held to be Capital Receipts Not Income. Peerless General Finance's Subscriptions Not Forfeited During Assessment Years, Hence Not Taxable as Income.

The appeal arose from a dispute between The Peerless General Finance and Investment Company Ltd. (appellant) and the Commissioner of Income Tax (respo...

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Bombay High Court Issues Rule Nisi in Cyber Fraud Case Involving Unauthorized Withdrawals of Rs. 38.04 Lakh. Petitioner Claims Banks Breached RBI Guidelines on Internet Banking and Failed to Reverse Fraudulent Transactions.

The petitioner, a freelancer in business consultancy, maintained savings and current accounts with HDFC Bank since 2011 and 2016 respectively. On 14 J...

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High Court of Bombay Considers Whether an Authorised Dealer Compliant with RBI's FLM Instructions Can Be Held Liable under Sections 6(4) and 6(5) of FERA; Maintainability Not Disputed Despite Co-Noticees' Failure to Appeal.

This matter concerns two appeals filed under the Foreign Exchange Management Act (FEMA) before the High Court of Bombay, challenging an order of the A...