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Bombay High Court Dismisses Appeal Against Refusal to Injunction Bank Guarantee Invocation in Development Dispute. Court holds that bank guarantee is an independent contract and injunction can only be granted on grounds of fraud or irretrievable injustice, not mere breach of underlying contract.

The appeal arose from a commercial suit where the appellant, Kryshnajay Developers Pvt. Ltd., sought a temporary injunction to restrain the respondent...

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Bombay High Court Orders Return of Security in Admiralty Suit for Lack of Sister Ship Relationship. Security furnished for arbitration claim cannot be retained when the vessel arrested is not a sister ship of the vessel for which services were provided.

The plaintiff, Condor Maritime Dienstleistung GmbH & Co. KG, filed an admiralty suit against m.v. Western Light and its owners (defendants) claiming m...

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Bombay High Court Dismisses Winding Up Petitions Against GOL Offshore Ltd. Due to Bona Fide Dispute and Absence of Commercial Insolvency. Debt Not Due and Payable Under Section 433(e) of Companies Act, 1956.

The judgment concerns two winding up petitions filed by Export-Import Bank of India and Punjab National Bank (International) Ltd. against GOL Offshore...

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Supreme Court Dismisses Appeal by Erstwhile Directors in First Insolvency Case, Holding IBC Overrides State Moratorium. Corporate Debtor's Belated Defence of Non-Disbursal Under Master Restructuring Agreement Rejected as After-Thought.

The case arose from the first application under the newly enacted Insolvency and Bankruptcy Code, 2016. The appellant, a multi-product company, faced ...

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Bombay High Court Hears Admiralty Suit for Recovery of Value of Goods Lost Due to Non-Issuance of Bill of Lading. Claim Against Vessel Owner and Agent for Breach of Duty Under Carriage of Goods by Sea Act is Examined.

This admiralty suit was filed by the plaintiff, Geetanjali Woollen Pvt. Ltd., seeking recovery of US$ 57,860 with interest for the loss of export good...