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Supreme Court holds that a bidder is entitled to a full refund of the bid amount with 7.5% interest from the date of payment when land acquisition lapses, regardless of possession. The ruling underscores that title extinguishment by law triggers restitution obligations, setting a precedent for commercial disputes involving failed acquisitions.
The Delhi High Court has ruled that a Memorandum of Understanding backed by fixed consideration, post-dated cheques, and partial performance can constitute an enforceable contract under the Specific Relief Act - even without a formal Share Purchase Agreement. This sets a critical precedent for commercial parties relying on preliminary agreements, affirming that summary judgment under Order XIII-A CPC is viable when the defendant fails to file a Written Statement.
The Calcutta High Court held that a defendant’s failure to file a written statement, coupled with a jointly signed and confirmed account ledger, extinguishes the right to raise unpleaded defenses - making summary judgment not just permissible but mandatory. This reinforces that procedural compliance is non-negotiable in commercial disputes, especially where financial records are mutually authenticated.
Calcutta High Court rules that alleged GST non-compliance and unsigned invoices do not eliminate triable issues in a Rs. 6.5 crore commercial dispute, reinforcing that summary judgment under Order XIII-A CPC requires clear absence of a genuine dispute. The ruling underscores the need for a full trial where factual or legal complexities persist.