Search Results for "Loan Recovery"

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Bombay High Court Quashes Bank's Wilful Defaulter Declaration for Violating Natural Justice. Show-cause notice lacking specific grounds renders the decision invalid under RBI Master Circular on Wilful Defaulters.

The petitioners, Nitin Shah, Rahul Shah, and Kunal Shah, who were directors of Nitin Fire Protection Industries Ltd. (the corporate debtor under CIRP)...

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High Court of Bombay Dismisses Petition Challenging Arbitral Award Against Collecting Banker in Pay Order Fraud Case. Bank Liable for Conversion Due to Negligence in Collecting Pay Order with Forged Endorsement Under Section 131 of Negotiable Instruments Act, 1881.

The petitioner, Saraswat Cooperative Bank Ltd., filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitr...

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Bombay High Court Allows Second Appeal in Money Suit Due to Violation of Natural Justice — First Appellate Court Set Aside Decree Without Hearing Appellant. Failure to Afford Opportunity of Hearing to Original Plaintiff Constitutes Breach of Principles of Natural Justice Under Section 96 CPC.

The case arises from a money suit filed by Madhusudan Radheshyam Jopat (appellant) against Laxmanrao Vithobaji Samarit (respondent) for recovery of Rs...

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High Court of Karnataka Quashes Charge Sheet in Money Lending Dispute Due to Civil Nature of Transaction. Sections 384, 420, 506 IPC Not Attracted as Dispute Pertains to Loan Repayment and Not Criminal Extortion or Cheating.

The petitioner, Sathish Kumar S, filed a criminal petition under Section 482 of the Code of Criminal Procedure, 1973 (Cr.P.C.) before the High Court o...

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Karnataka High Court Upholds Conviction of Accused in Prize Chit Scheme Case — Failure to Repay Subscribers Constitutes Criminal Breach of Trust. Prize Chit Activity Without Registration Under Prize Chits and Money Circulation Schemes (Banning) Act, 1978 Attracts Penalty Under Section 406 IPC.

The case pertains to a criminal revision petition filed by Sri Ravindra (since deceased) and Smt. Devamani challenging their conviction under Section ...

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Madras High Court Allows Bank's Writ Petition for Registration of SARFAESI Sale Certificate Despite Prior Sale Deeds by Mortgagor. Sub-Registrar Directed to Register Sale Certificate as Unauthorised Sales by Mortgagor Do Not Bind Secured Creditor.

The case involved a writ petition filed by Canara Bank under Article 226 of the Constitution seeking a mandamus to direct the Sub-Registrar, Kelamanga...