Whether Customs Act creates a first charge, overriding the charge in favour of secured creditor? SC answers
“Provisions in the Customs Act, 1962 do not negate or override the statutory preference in terms of Section 529A of the Companies Act, 2013”.
IDBI
Ker HC | Even if the Bank is a public sector bank, writ petition under Art. 226 is not maintainable if act in question is not one involving any element of public duty
Kerala High Court: P.V. Asha, J. allowed the writ petition questioning status of IDBI Bank as “State” under Article 12 of the
Bom HC | IDBI restrained from selling shares pledged by Fairprice Ltd. (Future Group) amid market collapse due to COVID-19
Bombay High Court: K.K. Tated, J., granted ad interim relief to Rural Fairprice Wholesale Ltd. from selling the pledged equity shares as the