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Bombay High Court Admits and Finally Disposes of Writ Petition Challenging RBI Circulars on Gold Import. Court Hears Arguments on Validity of Circulars Issued Under FEMA and Related Trade Policy.

The petitioners, a bullion dealing company and its directors, filed a writ petition under Article 226 of the Constitution seeking to quash RBI Circula...

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Supreme Court Allows Secured Creditor's Appeal in Customs Duty Priority Dispute Over Wound-Up Company's Hypothecated Goods. Held that customs authorities do not have priority over secured creditors under Section 529A of Companies Act, 1956 for sale of warehoused goods under Customs Act, 1962.

The appeal by Industrial Development Bank of India (IDBI) challenged the judgment of the Andhra Pradesh High Court which held that customs authorities...

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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Supreme Court Dismisses Appeal in Execution of Foreign Decree Case, Holding Limitation Period of 12 Years Runs from Date of Foreign Decree. Bank of Baroda's Execution Petition Filed 14 Years After London Decree Held Time-Barred Under Article 136 of Limitation Act, 1963.

The case involves a dispute between Bank of Baroda (appellant) and Kotak Mahindra Bank Ltd. (respondent, successor of Vysya Bank) regarding the limita...

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Bombay High Court Allows Appeal Against Rejection of Plaint Under Order 7 Rule 11(d) CPC — Plaint Cannot Be Rejected After Framing of Issues. Suit for Specific Performance Under MOFA Not Barred by Limitation as Limitation is a Mixed Question of Law and Fact.

The appellant, Mrs. Sicily Varghese Kadamthottu, filed a suit for specific performance against the respondents, who were promoters under the Maharasht...

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Bombay High Court Dismisses Appeal in Arbitration Execution Dispute — Award Under 1940 Act Cannot Be Enforced Under 1996 Act. Court holds that arbitration agreement entered into before 1996 Act came into force is governed by the 1940 Act, and award must be filed in court for enforcement under that Act.

The appellant, M/s. Radhey Shyam Associates, filed a Letters Patent Appeal challenging the judgment of a learned Single Judge of the Bombay High Court...