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High Court of Karnataka Directs Banks to Comply with RBI Prudential Framework for Stressed Assets Resolution in Writ Petition by Borrower Company. The court held that the RBI circular dated June 7, 2019, is binding on banks and that the borrower has a right to seek a review meeting under the framework.

The petitioner, Ganjam Nagappa and Son Private Limited, a company incorporated under the Companies Act, 1956, filed a writ petition under Articles 226...

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Supreme Court Upholds High Court Judgments on Creamy Layer Determination for OBC Reservation in Civil Services. Inclusion of Salary Income for PSU Employees Under Category II(C) of Office Memorandum Dated 08.09.1993 Found Discriminatory and Set Aside Due to Violation of Article 14.

The Supreme Court dealt with three consolidated civil appeals arising from separate High Court judgments concerning the determination of creamy layer ...

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Bombay High Court Dismisses Writ Petitions Against DRT Order in Debt Recovery Case — Bank Entitled to Recover Debt Under RDB Act. DRT Has Inherent Power to Reject Frivolous Counterclaim Without Recording Evidence, and High Court Should Not Interfere When Alternative Remedy of Appeal Exists.

The case involves two writ petitions arising from proceedings before the Debt Recovery Tribunal (DRT) under the Recovery of Debts Due to Banks and Fin...

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Bombay High Court Allows Pre-Arrest Bail to Appellant in SC/ST Act Case — Prima Facie Case Not Made Out. Allegations of Casteist Abuses and Cheating Found Vague and Civil in Nature Under Sections 3(1)(f)(r)(s) of SC/ST Act and Sections 406, 420, 506 IPC.

The appellant, Smt. Dharmishtha Bafna, filed a criminal appeal under Section 14-A(2) of the Scheduled Castes and Scheduled Tribes (Prevention of Atroc...

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Bombay High Court Restrains Encashment of Bank Guarantee in Arbitration Dispute Between Contractor and Sub-Contractor. Court finds that invocation of bank guarantee was fraudulent and would cause irretrievable injustice to the petitioner.

The petitioner, Simplex Infrastructure Limited, a civil and structural construction company, entered into a sub-contract with respondent No. 1, Siemen...