HIGH COURT AUGUST 2025 WEEKLY ROUNDUP | ‘Lootere’ Copyright Case; S.K. Sreenivasan’s Murder; Abbas Ansari’s Conviction Stay; and more
A quick legal roundup to cover important stories from all High Courts this week.
Axis Bank
‘Can’t allow borrowers to wiggle out of liability by using tenancy mechanism’; Allahabad HC directs grant of secured asset’s possession to Axis Bank
“Once an order has been passed under Section 14 of the SARFAESI Act, the authorities are required to act in pursuance of the same and as per the provisions of the Act. The mechanism used by the borrowers to wiggle out of their liability cannot be countenanced by us.”
‘Absence of NOC not automatically invalidates Security Documents’; NCLT upholds Axis Bank & NKGSB Bank’s claims as Secured Debt
The NCLT held that the Resolution Professional does not have adjudicatory powers to invalidate or challenge the charges based on an absence of NOC.
RBI imposes penalty amounting to Rs. 1.91 crores on Axis bank Limited for failure to comply with Banking Regulation Act, 1949 and RBI Directions
Axis bank contravened S. 19(1)(a) of the Banking Regulation Act as one of its wholly owned subsidiaries was engaged in an impermissible business as per S. 6 of the Act.
CCI approves 7 major acquisition proposals involving IFC, Piramal, Sharekhan, HCL, MG Motors, and Axis Bank
Shares have been acquired in Northern Arc, MG Motors, Greenko ZeroC, Nagarjuna Fertilizers, Annapurna Finance, Sharekhan, Human Value Developers, Pritam International Private Limited and Max Life Insurance.
CCI approves Axis Bank’s subscription to 14.26 Crores equity in Max Life Insurance
The fair trade watchdog, Competition Commission of India, approved the subscription of 16.22 per cent equity shares of Max Life Insurance Company
Securities Appellate Tribunal directs restitution of shares pledged in favour of Axis Bank, ICICI Bank, Bajaj Finance, HDFC Bank and IndusInd Bank
The appropriate process was not done and like a highway robber NSDL through illegal directions from SEBI transferred the pledged shares which were fungible, to the clients of Karvy which action was without any authority of law.
RBI imposes penalty of Rs. 30 Lakhs on Axis Bank Ltd. for wrongly levying penal charges on its credit card holders on account of late payment
On 23-6-2023, the Reserve Bank of India (‘RBI’) imposed a penalty of Rs. 30 lakhs on Axis Bank Ltd. for non-compliance with
Clauses in Information Brochure based on statutory Master Circular is enforceable; Bombay High Court sets aside Administrator decision to write down AT-1 bonds once Yes Bank stood reconstituted
The clauses in the Information Memorandum are based on the Master Circular which is issued by the Reserve Bank under its statutory powers. Information Memorandum and its clauses refer to Master Circular. The said Information Brochure has a statutory flavour. In that event, the agreement would have a statutory base and such an agreement can certainly be enforceable.
Supreme Court reaffirms that NCLT under S. 7(5) of Insolvency and Bankruptcy Code has discretionary power to admit or reject an application
Supreme Court: In a review petition filed by Axis Bank against Supreme Court’s judgment in Vidarbha Industries Power Ltd. v.