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Bombay High Court Dismisses Writ Petition Challenging Auction Sale Under SARFAESI Act — Petitioner Failed to Deposit 25% of Sale Price. Condition Precedent Under Rule 9(3) of Security Interest (Enforcement) Rules, 2002 Not Fulfilled, and Alternative Remedy Under Section 17 of SARFAESI Act Available.

The petitioner, an individual aged about 70 years, filed a writ petition under Article 226 of the Constitution of India before the Bombay High Court c...

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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 Dismisses Petition Challenging Cooperative Bank Elections Due to Availability of Alternative Remedy. Writ Petition Under Article 226 Held Not Maintainable as Election Process Had Commenced and Remedy Under Section 152 of Maharashtra Cooperative Societies Act, 1960 Was Available.

The petitioners, nineteen individuals who are members of the Nashik District Central Cooperative Bank Ltd., filed a writ petition under Article 226 of...

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Bombay High Court Dismisses Petitions Challenging RBI's Moratorium and Liquidation of CKP Co-operative Bank Ltd. — Petitioners' Deposits Not Covered by Deposit Insurance as Bank Was Under Moratorium Prior to Insurance Scheme Introduction.

The judgment pertains to a batch of writ petitions filed by depositors of the CKP Co-operative Bank Ltd., which was placed under moratorium by the Res...

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Bombay High Court Dismisses Shareholder Suit Challenging Director Appointments for Lack of Jurisdiction. Dispute Over Rights Under Articles of Association Falls Within Exclusive Jurisdiction of Company Law Board Under Companies Act, 1956.

The suit was filed by shareholders of a banking company, Yes Bank, challenging resolutions relating to the appointment of directors and seeking declar...

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Bombay High Court Dismisses Writ Petition Challenging Cancellation of Banking Licence of Co-operative Bank. Reserve Bank of India's Order Under Section 22(4) of Banking Regulation Act, 1949 Upheld as No Ground for Interference in Writ Jurisdiction.

The petitioners, Surendra K. Kambli and another, were members and shareholders of the Bhandari Co-operative Bank Ltd. (First Respondent), a co-operati...