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High Court of Judicature at Bombay Partly Allows Writ Petitioners in Emergency Credit Line Guarantee Scheme Matter. Writ Petition Treated as Representation and Union Finance Ministry Directed to Decide Within Four Weeks to Ensure Scheme Benefits Percolate.

The dispute arose from the Emergency Credit Line Guarantee Scheme introduced by the Government of India through the Ministry of Finance. The petitione...

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Bombay High Court Allows Section 9 Petition for Appointment of Receiver and Injunction in Loan Default Case. Loan Agreement and Mortgage by Deposit of Title Deeds Established Prima Facie Case for Interim Relief Under Section 9 of the Arbitration and Conciliation Act, 1996.

The petitioner, Aditya Birla Finance Limited, a non-banking finance company, filed a petition under Section 9 of the Arbitration and Conciliation Act,...

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Bombay High Court Allows Writ Petition Challenging SARFAESI Act Possession Notice — Bank Directed to Consider One-Time Settlement Offer. Failure to Consider OTS Proposal Before Taking Possession Violates Principles of Fairness and Natural Justice Under Section 13(2) of SARFAESI Act, 2002.

The petitioner, Surendra Nikose, had availed a housing loan from the State Bank of India (respondent). Due to financial difficulties, he defaulted on ...

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Supreme Court Allows Appeal in Mortgage Suit: High Court Erred in Holding No Mortgage Created Despite Agreement to Deposit Title Deeds. Equitable Mortgage by Deposit of Title Deeds Under Section 58(f) of Transfer of Property Act, 1882 Established Through Agreement and Evidence.

The dispute arose from a loan transaction between the appellant (plaintiff) and the respondent (defendant) in February 1995, where the appellant advan...

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Supreme Court Dismisses Home Loan Borrower's Appeal Against HDFC in Interest Rate Dispute — Adjustable Rate of Interest Determined by Lender's Policy, Not RBI's Prime Lending Rate. Pre-contractual Assurance Cannot Override Express Terms of Loan Agreement Under Consumer Protection Act.

The appellant, a home loan borrower, filed a consumer complaint against HDFC Ltd. alleging that the bank had unilaterally increased the interest rate ...

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Bombay High Court Allows Second Appeal in Money Lending Licence Renewal Case — Subsequent Renewal Covering Loan Date is Sufficient Compliance. Licence under Bombay Money Lenders Act need not be obtained before advancing loan if renewal subsequently covers the date of advancement.

The appellant, Hind Finance Industries and Investment Limited, filed a second appeal against the concurrent judgments of the trial court and first app...

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High Court of Karnataka Quashes Tahsildar's Endorsement Rejecting Mutation Entry for Bank's Auction Purchaser Under Karnataka Land Grant Rules, 1969. Condition Against Alienation for 25 Years Does Not Bar Mortgage or Auction Sale by Bank.

The petitioner, South Canara District Central Co-operative Bank Ltd., filed a writ petition under Articles 226 and 227 of the Constitution of India se...

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Supreme Court Allows Bank's Appeal in Consumer Dispute Over Loan Processing Fee Refund. Bank's Circular Requiring Upfront Processing Fee Collection Held Binding on Consumer; Refund Denied to Avoid Unjust Enrichment.

The case involves a dispute between Bank of India (appellant) and M/s. Brindavan Agro Industries Pvt. Ltd. (respondent/consumer) regarding the refund ...

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Bombay High Court Partially Allows Borrower's Waiver Challenge and ARCL's Interest Inclusion Petitions in SARFAESI Appeal Pre-Deposit Dispute. The Court reduced pre-deposit from 50% to 25% of debt due including interest, balancing the borrower's right to appeal and the secured creditor's interests.

The case involves cross-petitions arising from a common DRAT order dated 04 June 2024. The borrower, M/s Royal Traders, challenged the DRAT's refusal ...