Corporate Law : NCLAT holds that time spent in pending Debt Recovery Tribunal proceedings cannot be excluded under Section 14 of the Limitation Ac...
Corporate Law : This summary examines whether DRT/DRAT orders for pre-deposit for a stay, without clear legal backing, conflict with borrowers' fu...
Fema / RBI : Learn the core underpinnings of the Code of Conduct for Debt Recovery Agents, prescribed by the Reserve Bank of India and Bank/Fin...
Corporate Law : This paper mainly discusses the scenario in the current legal system with respect to loan repayments and the laws related to them....
Finance : There is no mention of the term re-sealing of property in SARFAESI Act, 2022 and the Recovery of Debts and Bankruptcy (RDB) Act, 1...
Corporate Law : The Bombay High Court deferred the bank’s proposed action to take physical possession of secured assets after noting that the DR...
Corporate Law : The DRT Delhi held that prepayment charges cannot be levied when a bank recalls a loan and the borrower has not voluntarily offere...
Corporate Law : The tribunal relied on Supreme Court precedent to hold that a second proceeding cannot be filed when an earlier challenge has been...
Corporate Law : The Tribunal ruled that a sale made after creation of an equitable mortgage cannot defeat the bank’s security interest, leading ...
Corporate Law : The DRT Karnataka allowed recovery of ₹99.81 lakh after the borrower failed to appear and the bank’s documents proved the loan...
Corporate Law : Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Rules, 2023 – The e-filing of ...
Corporate Law : MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 10th September, 2021 S.O. 4145(E).—In exercis...
Finance : (1) These rules may be called the Debts Recovery Tribunals and Debts Recovery Appellate Tribunals Electronic Filing (Amendment) Ru...
Finance : Central Government hereby notifies the following change in the location of Debts Recovery Appellate Tribunal, Chennai with effect ...
Company Law : Central Government hereby notifies the establishment of the Debts Recovery Tribunal at Siliguri with effect from the 16th day of M...
DRAT Chennai held that rule 9(5) of Security Interest (Enforcement) Rules, 2002 empowers forfeiture of earnest money deposit when balance sale consideration is not paid within stipulated time. Accordingly, order confirmed and appeal is dismissed.
DRAT Chennai held that since sale not held in the manner required under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [SARFAESI Act] hence the same is liable to be set aside.
DRAT Chennai held that measures taken under SARFAESI Act for sale of property is not in accordance with also since affixture of the impugned sale notice was not proved by the appellant bank and valuation of the property was not properly done.
In M. Balasubramaniam v Federal Bank, DRAT Chennai ordered guarantors to pay pro-rata dues of ₹9.03 lakhs each but imposed 6% simple interest from 2002 due to their negligence in the appeal.
ITAT Chennai dismisses an appeal, ruling that a property sale is subject to a pre-existing equitable mortgage, validating a bank’s action under SARFAESI Act.
Kerala High Court dismisses writ petition challenging SARFAESI e-auction, citing Supreme Court precedents on alternative remedies and judicial restraint.
Kerala High Court ruled tenants with separate leases can file joint SARFAESI applications, emphasizing broad interpretation of “any person” and preventing hyper-technical objections.
This summary examines whether DRT/DRAT orders for pre-deposit for a stay, without clear legal backing, conflict with borrowers’ fundamental rights under Article 14 of Indian Constitution.
By an order dated 06.08.2024, the Commercial Court rejected the application filed by the appellant seeking exemption from complying with the mandatory provisions of Section 12-A of the Act, 2015.
DRAT Mumbai dismissed Bank of Maharashtra’s appeal, ruling the payment wasn’t made under reserve, with no fault attributed to the exporter.
