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Essence of Contract, Forfeiture of Earnest Money, and Specific Pleadings in Enforcement of Sale Agreements: Supreme Court Ruling
The Supreme Court, in a recent ruling, examined the essence of contract, the forfeiture of earnest money, and the necessity of specific...
May 273 min read
Supreme Court Affirms: Encashment of Bank Guarantee Is Not Duty Payment — Clarifies Refund Eligibility Under Customs Act
The Supreme Court has affirmed that the encashment of a bank guarantee does not constitute payment of duty and has clarified the...
May 203 min read
Commercial Execution Proceedings Withdrawn Following Settlement – Liberty Granted to Restore on Breach of Terms
The High Court allowed the withdrawal of commercial execution proceedings following a settlement agreement between the parties, while...
Apr 112 min read
Proceedings under Section 138 of NI Act Against an Individual are Barred During Interim Moratorium Under Section 96 of the IBC
The High Court held that proceedings under Section 138 of the Negotiable Instruments Act against an individual are barred during the...
Apr 102 min read
Personal Insolvency Proceedings Cannot Shield Individuals from Prosecution under Section 138 of the N.I. Act Despite Interim Moratorium under Section 96 of the IBC
The Supreme Court held that personal insolvency proceedings under the IBC cannot shield individuals from prosecution under Section 138 of...
Apr 54 min read
Supreme Court Reaffirms Statutory Presumption Under NI Act – Mere Denial by Accused Insufficient to Rebut Liability
The Supreme Court reaffirmed the statutory presumption under the Negotiable Instruments Act, holding that mere denial by the accused was...
Apr 33 min read
Wilful Defaulter Classification Must Adhere to Principles of Natural Justice – High Court Strikes Down Arbitrary Declaration Based on a Discredited Audit Report
The High Court ruled that the classification of a wilful defaulter must adhere to the principles of natural justice and struck down the...
Apr 24 min read
Banking Laws (Amendment) Bill, 2024: Key Reforms in Nomination, Substantial Interest, and Regulatory Compliance
Parliament has passed the Banking Laws (Amendment) Bill, 2024 , introducing significant reforms in banking regulations. The Rajya Sabha...
Mar 272 min read
Cheque Bounce Proceedings Against Director Unsustainable as Cause of Action Arose Post-Moratorium Under IBC
Supreme Court ruled that cheque bounce proceedings against the director are unsustainable as the cause of action arose after the...
Mar 193 min read
Cheque Dishonour Complaint Maintainable at Payee’s Bank Location; Accused’s Convenience Not a Ground for Transfer: Supreme Court
The Supreme Court had ruled that a cheque dishonour complaint is maintainable at the payee’s bank location and that the accused cannot...
Mar 133 min read
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