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Supreme Court Finds Reliance Companies Guilty of Contempt for Breach of Undertakings to Pay INR 550 Crore to Ericsson India Pvt. Ltd. The court held that the undertakings making payment conditional upon sale of assets were contrary to the court's order and constituted wilful disobedience.

The Supreme Court of India dealt with three contempt petitions filed by Ericsson India Pvt. Ltd. against Reliance Communications Ltd., Reliance Teleco...

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Karnataka High Court Quashes Government Orders Directing District Cooperative Bank to Refund Interest Already Deposited with NABARD as Unreasonable. Court Holds Bank Had Complied with NABARD Conditions Before Issuance of Impugned Orders, Making Subsequent Withholding Orders Invalid.

The petition was filed by a district cooperative bank challenging a Government Order dated 16.3.2011 and two subsequent orders that directed refund of...

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Bombay High Court Disposes Pending Applications and Show Cause Notices in Scheme of Compromise Under Section 391 of Companies Act, 1956. Criminal Proceedings Under Maharashtra Protection of Interest of Depositors Act, 1999 Allowed to Continue Notwithstanding Sanction of Scheme.

The matter arose from a scheme of compromise and arrangement proposed by Europlast India Ltd. under Section 391 of the Companies Act, 1956. The unsecu...

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Bombay High Court Grants Summary Judgment in Favor of Builder/Promoter in Summary Suit for Recovery of Maintenance Charges Under MOFA Agreement. Defendant's Failure to File Reply to Summons for Judgment Leads to Decree for Claimed Amount with Interest.

The plaintiff, Sai Om Petro Specialities Ltd., a builder/promoter, filed a summary suit against the defendant, M Industries, for recovery of alleged m...