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Supreme Court Allows Banks' Appeals in RBI Fraud Classification Case Regarding Natural Justice Requirements. Court Holds No Absolute Right to Personal Hearing or Full Forensic Audit Report Disclosure Under RBI Master Directions Issued Under Section 35A Banking Regulation Act, 1949.

The dispute arose from the classification of loan accounts as 'fraud' by banks under the Reserve Bank of India's Master Directions. The appellant bank...

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Supreme Court Dismisses Appeal to Enforce English Summary Judgment in Guarantee Dispute — Foreign Judgment Held Unenforceable for Violating Principles of Natural Justice Under Section 13 CPC. Summary judgment passed after denying leave to defend is not conclusive and cannot be enforced in India.

The dispute arose from a Share Purchase and Co-operation Agreement (SPCA) executed on 12.05.1995 between (appellant, a foreign company) and (responden...

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Bombay High Court Dismisses Writ Petition Challenging Rejection of Plaint in SARFAESI Act Dispute — Civil Suit Barred Under Section 34 of SARFAESI Act, 2002. Shareholder's Allegations of Fraud Do Not Override Statutory Bar When Secured Assets Are Involved.

The petitioner, Shashikant Gangar, a shareholder and director of Libox Chem (India) Private Limited (respondent no. 2), filed a writ petition challeng...

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Bombay High Court Quashes FIR Against Bank and Employees in Loan Dispute — Dispute Held Purely Civil, No Prima Facie Case of Cheating or Criminal Breach of Trust. Allegations of Forgery and Use of Forged Documents Also Not Made Out, FIR Quashed Under Section 482 CrPC.

The judgment arises from two writ petitions filed by ICICI Bank Ltd., its employees (Zarin Daruwala, Girish Nayak, Arati Ramakrishnan, Vipul Parmar, K...

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High Court of Karnataka Upholds Acquittal in Cheque Bounce Case Due to Failure to Prove Debt Liability. Complainant Bank Failed to Establish Legally Enforceable Debt or Liability Under Section 138 of Negotiable Instruments Act, 1881.

The appellant, Bidar Urban Co-operative Bank Ltd., filed a criminal appeal against the acquittal of the respondent, Girish Kulkarni, by the trial cour...

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High Court of Karnataka Allows Appeal in Cheque Dishonour Case, Sets Aside Acquittal. Complainant Company's Loan to Employee and Cheque Issuance for Repayment Established, Rebuttable Presumption Under Section 139 of Negotiable Instruments Act, 1881 Not Rebutted by Accused.

The appellant, Sami Labs Limited, filed a complaint under Section 138 of the Negotiable Instruments Act, 1881, against the respondent, M.V. Joseph, a ...

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Bombay High Court Dismisses Applications to Recall Consent Terms and Set Aside Consent Decrees in Property Disputes Between Family Members. Court Holds That Consent Terms Recorded by Counsel Are Binding on Parties and Cannot Be Challenged on Grounds of Fraud Without Proper Pleadings and Evidence.

The judgment pertains to two Notice of Motions filed by the defendants in two separate suits seeking recall and setting aside of consent terms and con...