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Bombay High Court Quashes Recovery Certificate Against Guarantor in Cooperative Bank Loan Fraud Case — Violation of Natural Justice. Failure to Provide Documents and Pass Reasoned Order Renders Recovery Proceedings Invalid Under Maharashtra Cooperative Societies Act, 1960.

The petitioner, Tarulata Amritlal Bava, filed a writ petition under Articles 226 and 227 of the Constitution challenging a Recovery Certificate dated ...

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Bombay High Court Allows SFC Petition Against Guarantors Under Section 31(1)(aa) of SFC Act, 1951 — Guarantors Liable Despite Company's Winding Up. Guarantee is a separate contract and liability of guarantor is co-extensive with principal debtor under Section 128 of Indian Contract Act, 1872.

The petitioner, SICOM Limited, a State Financial Corporation, filed a petition under Section 31(1)(aa) of the State Financial Corporation Act, 1951 ag...

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Supreme Court Allows Bank's Appeal Against High Court's Mandamus to Consider OTS Application. Court Holds That No Writ of Mandamus Can Be Issued to Direct a Bank to Grant One Time Settlement Benefit Under Article 226 of the Constitution.

The present appeal arises from a judgment of the Allahabad High Court which, in exercise of powers under Article 226 of the Constitution of India, iss...

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Bombay High Court Dismisses Bank's Petition in Cooperative Dispute Over Fraudulent Loan Account. Cooperative Court has jurisdiction to entertain dispute despite recovery certificate under Section 101 of Maharashtra Cooperative Societies Act, 1960.

The case involves a dispute between Thane Bharat Sahakari Bank Ltd (Petitioner) and Amritlal Bava (Respondent No.1) regarding a loan account. Responde...

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Bombay High Court Reviews Territorial Jurisdiction of Assistant Registrar in Co-operative Loan Recovery Proceedings Under Section 101 of MCS Act. Challenge Centres on Whether Loan Sanction at Head Office Confers Jurisdiction Despite Execution and Disbursement at Branch Office.

The High Court of Judicature at Bombay, Nagpur Bench, heard five writ petitions challenging a common order dated 5 August 2020 passed by the Assistant...