Withdrawal of notice u/s. 13(2) of SARFAESI doesn’t invalidate effect of recovery certificate
POONAM GANDHI
10 Jan 2026
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Company Law |
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Judiciary
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Company Law |
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Judiciary
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Case Law Details
Case Name : State Bank of India Vs Rakesh Hariram Agarwal (NCLAT Delhi)
Related Assessment Year :
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Courts :
NCLAT
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State Bank of India Vs Rakesh Hariram Agarwal (NCLAT Delhi)
NCLAT Delhi held that withdrawal of first notice via second notice under Sec.13(2) of the SARFAESI Act doesn’t invalidate the effect of the recovery certificate which the DRT has passed. Accordingly, PIRP was laid in time and hence appeals are allowed.
Facts- The appellant is a Nationalised Bank. On 23.09.2009 it advanced a loan of Rs.10.50 Crores to a certain Asis Global Limited, to which the 1st respondent in both the appeals had given a personal guarantee. The principal borrower how
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