Corporate Law : The Supreme Court held that borrowers lose their statutory right of redemption once a valid auction notice is published under Sect...
Finance : The article explores how the SARFAESI Act empowers banks to recover dues efficiently while highlighting the procedural safeguards ...
Finance : The paper shows that loan fraud persists due to enforcement failures, not lack of legal provisions. It highlights delays in detect...
Corporate Law : The Court held that insolvency proceedings cannot be invoked after completion of SARFAESI auction to stall recovery. It clarified ...
Corporate Law : Learn the critical protections available to borrowers facing recovery actions, including notice, appeal, and redemption rights, to...
Corporate Law : Ministry of Finance addresses Lok Sabha questions on misuse of SARFAESI Act, detailing existing safeguards for borrowers and regul...
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 Central Govt has initiated formulation of laws to secure prudential banking & help effect a culture of credit discipline i...
Fema / RBI : The Gross Advances of Scheduled Commercial Banks (SCBs) increased from Rs.25,03,431 crore as on 31.3.2008 to Rs. 68,75,748 crore...
Fema / RBI : It is widely felt that the spectre of high-value economic offenders absconding from India to defy the legal process seriously unde...
Corporate Law : Supreme Court held that a Section 7 IBC application can proceed despite pending winding-up proceedings where no irreversible stage...
Corporate Law : Madras HC held that a pending NCLAT appeal did not prevent PNB from conducting a Swiss Challenge auction after the OTS proposal wa...
Corporate Law : DRT Chandigarh quashed the auction after finding the bank failed to maintain the mandatory 15-day notice period before sale....
Corporate Law : The DRAT upheld the DRT's refusal to accept the settlement after finding that the bank had not complied with the final order direc...
Corporate Law : The Supreme Court held that High Courts should ordinarily refrain from entertaining writ petitions in SARFAESI matters where an ef...
Corporate Law : IBBI held that an Insolvency Professional cannot delay constitution of the Committee of Creditors based on settlement discussions ...
CA, CS, CMA : CA. Ravish Maniyar found guilty of professional misconduct by ICAI for failing to disclose pending SARFAESI proceedings in an audi...
Fema / RBI : Reserve Bank of India (RBI) has issued Circular RBI/2023-24/63 on September 25, 2023, addressing the display of information relate...
Finance : Central Government hereby specifies such housing financial companies registered under sub-section (5) of section 29A of the Nation...
Corporate Law : Government notifies Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Central Registry) ...
Supreme Court held that a Section 7 IBC application can proceed despite pending winding-up proceedings where no irreversible stage has been reached.
Madras HC held that a pending NCLAT appeal did not prevent PNB from conducting a Swiss Challenge auction after the OTS proposal was rejected.
DRT Chandigarh quashed the auction after finding the bank failed to maintain the mandatory 15-day notice period before sale.
The DRAT upheld the DRT’s refusal to accept the settlement after finding that the bank had not complied with the final order directing refund to the auction purchaser. Both the borrower and the bank’s appeals were dismissed.
The Supreme Court held that High Courts should ordinarily refrain from entertaining writ petitions in SARFAESI matters where an effective statutory remedy before the DRT exists. The ruling reiterates the limited scope of Article 226 in commercial recovery disputes.
The Supreme Court held that under the amended Section 13(8) of the SARFAESI Act, the borrower’s statutory right of redemption ends upon publication of the auction notice. It set aside the High Court’s order quashing the auction sale certificate.
The Kerala High Court held that banks are not required to obtain approval from the Local Level Committee under the National Trust Act before enforcing security interests under the SARFAESI Act. The Court also ruled that challenges to SARFAESI proceedings should ordinarily be pursued before the Debt Recovery Tribunal.
The Supreme Court held that borrowers lose their statutory right of redemption once a valid auction notice is published under Section 13(8) of the SARFAESI Act. The ruling strengthens creditor certainty and reinforces efficient debt recovery.
The NCLT Mumbai held that participation and voting in the first creditors’ meeting did not amount to relinquishment of a secured creditor’s security interest. It ruled that the bank remained entitled to enforce its security under the SARFAESI Act.
The article explores how the SARFAESI Act empowers banks to recover dues efficiently while highlighting the procedural safeguards available to borrowers.
