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of <h1>Bombay HC allows No Dues Certificate, conditional on withdrawing Debt Recovery proceedings; preserves rights against sureties.</h1> <h3>Western India Shipyard Versus State Bank of India</h3> The HC of Bombay granted the application for a No Dues Certificate and withdrawal of claims, contingent upon the withdrawal of proceedings before the Debt ... - The High Court of Bombay allowed the application seeking reliefs related to issuance of No Dues Certificate and withdrawal of claims by the respondent, subject to conditions including withdrawal of proceedings before Debt Recovery Appellate Tribunal and keeping open the right to proceed against sureties. The respondent was directed to issue the No Dues Certificate within six weeks. The application was disposed of accordingly. (Case citation: 2012 (1) TMI 432 - BOMBAY HIGH COURT)
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