The Calcutta High Court has held that the High Court can, in exceptional circumstances, recognise a compromise reached after final disposal of a revision case if subsequent developments create a fresh right of compounding for the parties.

The ruling came while dealing with an application filed after the High Court had already modified the conviction of six accused persons from Section 326 IPC to Section 325 IPC.

The Supreme Court has held that merely calling a transaction a “loan” does not take it outside the scope of the Maharashtra Protection of Interest of Depositors (MPID) Act if the money was accepted with a promise of repayment and returns.

The Court said the definition of “deposit” under Section 2(c) of the MPID Act is intentionally broad and covers receipt of money to be returned with or without interest and applies to transactions accepted ‘in any other manner.’

The Supreme Court of India has clarified that an arbitration clause contained in an earlier redevelopment agreement can become binding in later agreements if those agreements clearly adopt all terms of the original contract.

The dispute arose after Hirani Developers entered into a redevelopment agreement with Nehru Nagar Samruddhi Co-operative Housing Society in 2011 for redevelopment of a dilapidated property. The agreement included an arbitration clause under Clause 36 for resolving disputes through a sole arbitrator.