https://www.taxtmi.com/caselaws?id=465247 HC held that the recovery suit, arising from a loan supported by a loan agreement, promissory note, receipt and post-dated cheques between two real estate businessmen, constitutes a "commercial dispute" under the Commercial Courts Act, as it involves ordinary mercantile transactions and an interest-bearing, non-friendly loan. Rejecting the defendant's jurisdictional objection, HC exercised powers under Order XIIIA CPC (as applicable to commercial disputes) and directed the defendant to deposit Rs. 4,50,00,000 in court within four weeks, failing which the defence shall stand closed and the plaintiff will be entitled to a money decree. The matter was also referred to Income Tax authorities for possible tax-evasion inquiry. en-us Mon, 27 Mar 2023 00:00:00 +0530 Fri, 12 Dec 2025 20:19:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465247 HC held that the recovery suit, arising from a loan supported by a loan agreement, promissory note, receipt and post-dated cheques between two real estate businessmen, constitutes a "commercial dispute" under the Commercial Courts Act, as it involves ordinary mercantile transactions and an interest-bearing, non-friendly loan. Rejecting the defendant's jurisdictional objection, HC exercised powers under Order XIIIA CPC (as applicable to commercial disputes) and directed the defendant to deposit Rs. 4,50,00,000 in court within four weeks, failing which the defence shall stand closed and the plaintiff will be entitled to a money decree. The matter was also referred to Income Tax authorities for possible tax-evasion inquiry. Case-Laws Indian Laws Mon, 27 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465247