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High Court of Karnataka Quashes Show Cause Notice for Willful Defaulter Declaration Due to Lack of Application of Mind — Bank Issued Notice Without Considering Petitioner's Reply or Providing Adequate Opportunity Under RBI Master Circular.

The petitioner, B.G. Chandrashekar, a borrower from Canara Bank, defaulted on a loan of Rs. 7,07,94,378/-. The bank initiated recovery proceedings und...

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High Court of Karnataka Quashes Arbitration Proceedings in Chit Fund Dispute for Lack of Jurisdiction. Arbitration Clause in Chit Fund Agreement Not Binding as Chit Fund Act Overrides Arbitration and Conciliation Act.

The petitioner, Sri H.B. Shivakumar, filed a writ petition under Articles 226 and 227 of the Constitution of India seeking to quash arbitration procee...

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Judicial Scrutiny of RBI's Supersession of Abhyudaya Co-operative Bank's Board. Balance between Constitutional mandates and banking regulations reaffirmed.

The Bombay High Court assessed the legality of the Reserve Bank of India's (RBI) supersession of the Board of Directors of Abhyudaya Co-operative Bank...

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Bombay High Court Upholds Conviction of Company and Directors in Cheque Dishonour Case Under Section 138 r/w 141 of Negotiable Instruments Act, 1881. Directors' Claim of Not Being In Charge of Business at Time of Cheque Issuance Fails to Rebut Presumption of Liability Under Section 141.

The case involves a criminal revision application filed by M/s. Jaimin Jewelery Exports Pvt. Ltd. (Accused No.1) and its directors, Gautam Mehta (Accu...

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Bombay High Court Adjourns Anti-Suit Injunction Appeal Against Bank — No Ad-Interim Relief Granted Pending Reply. Court Considers Whether Indian Court Can Restrain Foreign Proceedings When Foreign Decree Would Be Executable in India Under CPC Sections 13, 14, 44A.

The appeal arises from an order dated 25 November 2013 passed by the City Civil Court, Greater Mumbai, refusing to grant ad-interim relief in an anti-...

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Bombay High Court Allows SICOM's Petition Against Guarantors Under Section 31(1)(aa) of SFC Act for Recovery of Loan Default. Guarantors Held Liable Under Unconditional Guarantee Deed for Repayment of Term Loan.

The petitioner, SICOM Limited, a deemed State Financial Corporation under Section 46 of the State Financial Corporation Act, 1951, filed a petition un...