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Gujarat High Court Allows Petition for Transmission of Shares and Dividends from IEPF to Legal Heir Without Succession Certificate. Succession Certificate Not Mandatory Under Companies Act, 2013 for Transmission of Shares to Nominee or Legal Heir.

The petitioner, Daksha Nanavati, filed a writ petition under Articles 226 and 227 of the Constitution of India read with Sections 125, 124, and 469 of...

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High Court of Karnataka Allows Bank's Appeal in Bond Amount Recovery Dispute — Refund of Rs. 3,00,000 Set Aside. Clause 11(k) of Appointment Letter and Indemnity Bond Held Valid and Enforceable as Employee Resigned Before Completing Stipulated Service Period.

The case pertains to a writ appeal filed by Vijaya Bank (now Bank of Baroda) against an order of a learned Single Judge of the Karnataka High Court. T...

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Bombay High Court Dismisses Appeal Against Refusal to Injunction Bank Guarantee Encashment in Commercial Dispute. No Case of Fraud or Irretrievable Injustice Made Out to Restrain Bank Guarantee Invocation Under Contract Law Principles.

The appeal arises from an order of the learned Single Judge refusing to grant an injunction restraining the respondent from encashing a bank guarantee...

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Bombay High Court Restrains Invocation of Performance Guarantee in Arbitration Dispute — Finds Prima Facie Case of Fraud and Irretrievable Injustice. Section 9 of Arbitration and Conciliation Act, 1996 invoked to protect petitioner's interests pending arbitration.

The petitioner, Larsen & Toubro Limited (L&T), filed an arbitration petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking in...

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Bombay High Court Dismisses Appeal Under Section 37 of Arbitration Act in Demurrage Dispute, Upholding Concurrent Findings Below. Clause 10(v) Held to Create Direct Liability for Demurrage, Not Indemnity, and Counterclaim for Option Cargo Damages Rejected.

The dispute arose from a coal supply contract dated 18 September 1999 between the appellant, an Indian company, and the respondent, an Australian comp...

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Bombay High Court Hears Petition to Set Aside Arbitral Award Directing Indemnity for Depreciation Disallowance. Petitioners Argue that Clause 14 of Lease Agreement Does Not Cover Income Tax Depreciation Denial and Rely on Identical Clause Interpretation in Prior Judgment.

The dispute arose from a lease agreement executed in 1997 between Borosil Glass Works Limited (lessee/petitioner) and Tata Motors Limited (lessor/resp...

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Bombay High Court Dismisses Appeal Against Injunction in Bank Guarantee Invocation Dispute. Fraud Must Be Established at Invocation Stage; Bank Guarantee Is Independent Contract Between Bank and Beneficiary.

The appellant, M/s. ABG Ports Limited, filed a suit seeking a declaration that the Joint Bid Agreement (JBA), the Counter Guarantee, and its invocatio...

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Supreme Court Upholds Indemnity Claim for Loss of Ownership Despite Continued Possession. Indemnity Bond Enforceable When Purchaser's Title Defeated by Creditor's Sale, Even Without Dispossession.

The dispute arose from a sale of land by a father (second defendant) of property belonging to himself and his minor son (third defendant). To protect ...