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Supreme Court

Supreme Court Quashes High Court's Interim Orders Staying Criminal Proceedings and ED Investigation in Loan Default and Money Laundering Case. The Court held that blanket stay of investigation under Prevention of Money Laundering Act, 2002 and Indian Penal Code, 1860 was impermissible as it obstructed statutory powers and involved factual adjudication unsuitable for writ jurisdiction under Article 226.

13 Feb 2024

The Supreme Court addressed appeals against interim orders passed by the High Court of Judicature at Allahabad, which had stayed criminal proceedings ...

Supreme Court

Supreme Court Dismisses Appeals in Criminal Writ Petitions Challenging Summons Issuance for Cheque Dishonor. The Court upheld the High Court's decision that a prima facie case existed under Section 138 of the Negotiable Instruments Act, 1881, and the Magistrate's satisfaction for issuing summons was proper, refusing to quash proceedings under Section 482 of the Code of Criminal Procedure, 1973.

28 Apr 2023

The Supreme Court dealt with appeals challenging the High Court of Judicature at Bombay's judgment dated 26th April 2021, which dismissed the appellan...

Supreme Court

Supreme Court Allows Bank's Appeal in SARFAESI Act Case, Restoring Interim Order for Sale of Mortgaged Property. The Court held that the interim order directing steps for sale without final orders was warranted to protect the secured creditor's rights under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, as the respondent had defaulted on credit facilities.

18 Apr 2023

The appeal arose from a dispute between Punjab & Sind Bank (appellant) and M/s Frontline Corporation Ltd. (respondent) concerning the sale of mortgage...

Supreme Court

Supreme Court Upholds Bank's Reauction and Deposit Forfeiture Under SARFAESI Act, 2002. Auction purchaser's failure to pay balance within stipulated time justified forfeiture, with liberty to pursue recovery through independent proceedings.

11 Apr 2023

The appeal arose from a dispute involving auction proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Secur...

Supreme Court

Supreme Court Upholds Mandatory E-filing in Debt Recovery Tribunals with Safeguards for Digital Divide. The amendment to the Electronic Filing Rules under the Recovery of Debts and Bankruptcy Act, 1993 was held valid due to gradual implementation and stakeholder training, but the court directed measures like e-sewa kendras and grievance redressal to address access issues.

29 Mar 2023

The proceedings under Article 32 of the Constitution were instituted to challenge the amendment to Rule 3 of the Debt Recovery Tribunals (DRTs) and De...

Supreme Court

Supreme Court Upholds Borrowers' Right to Hearing in RBI Fraud Classification Directions. The Court held that principles of natural justice, specifically audi alteram partem, must be read into the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions 2016 to prevent arbitrariness, as classification entails serious civil consequences under Clauses 8.9.4 and 8.9.5.

27 Mar 2023

The civil appeals arose from challenges to the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directio...

Supreme Court

Supreme Court Dismisses Appeal in Dishonour of Cheque Case Under Negotiable Instruments Act, 1881 Despite Insolvency Proceedings. Criminal Liability Under Section 138 Negotiable Instruments Act, 1881 Continues Simultaneously with Insolvency Resolution Under Insolvency and Bankruptcy Code, 2016 as Proceedings are Penal and Not Covered by Moratorium Under Section 14.

15 Mar 2023

The dispute arose from a dishonoured cheque issued by M/s Rainbow Papers Limited, a company, to Tourism Finance Corporation of India Limited, a public...

Supreme Court

Supreme Court Quashes Conviction Under Section 138 of Negotiable Instruments Act, 1881 and Sets Aside Civil Decrees Based on Promissory Notes Due to Misuse of Blank Cheques Issued as Security. The Court Held That the Presumption Under Section 139 Was Rebutted as the Cheques Were Issued for Chitfund Security and Presented After Account Closure, and the Lender's Financial Capacity Was Not Proven in Civil Suits.

18 Jan 2023

The Supreme Court of India, in a judgment delivered by Justice B.R. Gavai, disposed of criminal and civil appeals arising from a dispute involving dis...

Supreme Court

Supreme Court Allows Appeals in SARFAESI Auction Case, Reinstating DRT Order and Sale. High Court's Writ Jurisdiction Improper When Statutory Remedy Available; Auction Deposit Complied with Rules and Property Not Exempt as Agricultural Land Under Section 31(i) SARFAESI Act.

5 Jan 2023

The dispute arose from securitisation proceedings initiated by Indian Bank against M/s. Raus Constructions Private Ltd. after loan default. The bank c...

Supreme Court

Supreme Court Dismisses Operational Creditor's Appeal in Insolvency Case Due to Limitation and Pre-existing Dispute. Application Under Section 9 of Insolvency and Bankruptcy Code, 2016 Barred as Cause of Action Accrued in 2011-2012 and Dispute Over Gas Supply Existed, Excluding Suspension Period Under Sick Industrial Companies (Special Provisions) Act, 1985 Not Applicable.

4 Jan 2023

The appeal arose from the dismissal of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the National Company Law Tribunal...

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