magistrate court

The Banks or Secured Creditors do feel comfortable in recovering their dues using the provisions of SARFAESI Act, 2002. The object of the enactment, as everybody knows, is to enable the Banks/Secured Creditors to reduce the level of ‘Non-performing Full Article

The object of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is to regulate Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest and for matters connected Full Article

What normally happens is that when the borrower fails to get an order of stay of proceedings by the Bank under the provisions of SARFAESI Act, 2002 under section 17 or where there is no restraint from the competent forum, the Bank will proceed with taking physical possession of the property and then proceed with auctioning the same in accordance with the provisions of the Act or the rules made there-under. As such, there can be an argument that the question of approachin.. Full Article

The Central Bureau of Investigation (CBI) today arrested Satyam's Internal Auditor V S Prabhakar Gupta for his alleged role in fudging of books of accounts of the software major for several years. The CBI, which had filed its charge sheet within 90 days of taking over the case, arrested him after his role came to light, CBI sources said. Full Article

A special court will be established in Hyderabad for the trial of the Satyam scam. The decision has been taken as per the recommendations of the AP High Court and the Deputy Inspector General of the Central Bureau of Investigation at Hyderabad. Ever since the chargesheet was filed against Satyam founder-chairman B Ramalinga Raju and other accused in connection with the Satyam scam in April 2009, the trial has been going on at the XIV Additional Chief Metropolitan Magistr.. Full Article