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High Court of Karnataka Allows Appeal Against Injunction Restraining Bank from Enforcing Corporate Guarantee. The court set aside the injunction as the guarantee deed was unconditional and the bank had a prima facie case under Order 39 Rules 1 and 2 of CPC, enabling it to proceed under SARFAESI Act and IBC.

The appeal arose from an order dated 25.07.2024 passed by the LXXXV Additional City Civil and Sessions Judge, Bengaluru (Commercial Court) in I.A. No....

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Supreme Court Dismisses Appeals Against Insolvency Initiation Under Insolvency and Bankruptcy Code, 2016 -- NCLAT Order Upheld in Favor of Allottees as Financial Creditors -- Corporate Debtors Failed to Deliver Possession and Complete Formalities

The Supreme Court dismissed civil appeals filed by erstwhile directors of corporate debtors against the NCLAT judgment which upheld the NCLT order ini...

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Supreme Court Upholds Prohibition on Ex Post Facto Environmental Clearance in Environmental Law Case. Prior Environmental Clearance Under Environment (Protection) Act, 1986 and EIA Notification 2006 is Mandatory; Ex Post Facto Clearance Ultra Vires.

The Supreme Court of India considered a group of petitions challenging the validity of ex post facto environmental clearance (EC) granted under the En...

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"High Court Mandates Enhanced Verification Mechanisms to Prevent Real Estate Fraud" "Ensuring Transparency and Accountability in Real Estate Registrations"

The Court emphasized the necessity of a robust framework to ensure transparency and prevent fraudulent practices in the real estate sector. It directe...

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Legal Setback for Goa's Real Estate Development Amid Road Access Dispute. Bombay High Court Quashes Construction Clearance Due to Inadequate Road Width Compliance.

The Bombay High Court at Goa quashed the Technical Clearance Order (TCO) granted to Isprava Luxury Realty Two LLP for the construction of 18 villas. T...

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Supreme Court Validates NCLAT's Ruling on Financial Debt Classification under IBC. Global Credit Capital Limited and others deemed financial creditors in Mount Shivalik Industries Ltd. insolvency case.

The Supreme Court upheld the decision of the National Company Law Appellate Tribunal (NCLAT), confirming that the appellants are financial creditors u...

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Supreme Court Dismisses Appeal in Insolvency Case Over Creditor Status and Resolution Plan Approval. Statutory Authority's Claim as Financial or Secured Creditor Rejected Due to Lack of Diligent Action During Corporate Insolvency Resolution Process Under Insolvency and Bankruptcy Code, 2016.

The dispute arose from the Corporate Insolvency Resolution Process (CIRP) of M/s. JNC Construction (P) Ltd, the Corporate Debtor. The appellant, a sta...

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Supreme Court Dismisses Petitions in PMLA Case, Upholding High Court's Order with Costs. High Court's dismissal of writ petitions seeking quashing of ECIR and prosecution complaint under Prevention of Money Laundering Act, 2002, was justified as petitions lacked merit and were not maintainable.

The dispute arose from petitions filed by Anoop Bartaria, Director of World Trade Park Ltd., and the company itself, challenging a common judgment and...