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Supreme Court Allows Co-operative Bank Appeal Against Sureties -- Holds Sureties Liable for Original Loan Under Section 133 of Indian Contract Act, 1872 -- Gujarat High Court Order Set Aside in Recovery Dispute

The Supreme Court allowed appeal by Appellant against High Court order that discharged sureties from all liability -- The Court held that under Sectio...

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Supreme Court Affirms Guarantor's Independent Liability Despite Resolution Plan. Guarantor's obligations remain intact; assets of subsidiaries excluded from holding company’s resolution plans, creditor rights upheld

The Supreme Court of India affirmed that the approval of a resolution plan for a corporate guarantor does not absolve the principal borrower of its li...

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High Court of Karnataka Partly Allows Surety's Appeal Against Forfeiture of Bond Amount — Reduces Penalty from Rs.40,000 to Rs.5,000. Surety's inability to produce absconding accused does not warrant forfeiture of entire bond amount under Section 446(3) CrPC.

The appellant, Sri Muniyappa, was a surety for accused Nos.1 and 3 in Sessions Case No.56/2016 before the II Additional District & Sessions Judge, Tum...

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Bombay High Court Dismisses Challenge to Arbitral Award in Guarantee Dispute — Guarantor's Liability Not Discharged by Family Settlement Without Bank's Consent. Family Settlement Between Guarantor and Principal Debtor Does Not Discharge Guarantor Under Section 134 of Indian Contract Act, 1872.

The petitioner, Narinder Pal Agarwal, was a director and guarantor of Narendra Metal Converters Pvt. Ltd., which had taken loans from Saraswat Coopera...

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Bombay High Court Allows Furlough on Cash Surety for Life Convict Unable to Furnish Surety Due to Imprisoned Parents. Court Holds That Inability to Furnish Surety Should Not Deprive Prisoner of Furlough, Directs Release on Cash Surety of Rs.5,000 from Prison Earnings.

The petitioner, Anil Vishwanath Pathwe, a convict serving life imprisonment under Sections 302 and 498 of the Indian Penal Code, filed a letter-petiti...

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Bombay High Court Allows Furlough for Life Convict Despite No Relative, Interpreting 'Relative' Broadly Under Goa Prison Rules. The court directed reconsideration of furlough application treating a non-relative as 'relative' under Rule 316(3) of Goa Prison Rules, 2006.

The petitioner, Bhau Valve, a life convict under Section 8(2) of the Goa Childrens Act, 2003 for sexually assaulting his daughter, had served nearly 1...