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) ...
Read how Bombay High Court’s recent judgment issued crucial directives for swift processing of creditors’ applications under SARFAESI Act, ensuring efficient asset possession.
Himachal Pradesh High Court held that the Bank has first charge over the properties being secured creditor in priority over all Other Debts, Revenues, Taxes, Cesses and Other Rates payable to the Central or State Government or Legal Authority.
Madras High Court held that once the purchaser has purchased the property even after knowing about the encumbrances then it is his obligation to discharge the encumbrances. The Bank cannot file a writ petition so as to protect the interest of the third party, who has purchased the property knowing the fact that there are other encumbrances.
Reserve Bank of India (RBI) has issued Circular RBI/2023-24/63 on September 25, 2023, addressing the display of information related to secured assets possessed under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002. This move towards greater transparency aims to ensure that Regulated Entities (REs) of the RBI, which […]
Supreme Court held that the documents relating to acknowledgement claiming benefit of Section 18 of the Limitation Act can be accepted even at the appellate stage. Further, acknowledgment of debt in the balance sheet has been held to be a valid acknowledgment for the benefit of Section 18 of the Limitation Act.
Article examining the two approaches Financial Institutions in India use for vehicle seizure: traditional vs. SARFAESI methods. Explore how Indian Judiciary’s stance influences industry practices in vehicle impounding.
Supreme Court held that dues under Micro, Small, and Medium Enterprises Development Act, 2006 would not prevail over SARFAESI Act.
ITAT Mumbai held that the assessee not entitled to deduction u/s 48(i) of the Act for repayment of the mortgage debt which was incurred subsequent to the acquisition of the property and not for the purpose of acquisition.
Kerala High Court held that a secured creditor, under Section 26E of the SARFAESI Act and Section 31B of the RDB Act, obtains priority over the right claimed by the Revenue both in proceeding against the properties in question or in recovering the secured debt.
Himachal Pradesh High Court dismissed the petition stating that writ petition assailing initiation of proceedings under section 13(4) of SARFAESI Act is not maintainable as aggrieved party has a remedy of an appeal under Section 17 of SARFAESI Act to approach the Debt Recovery Tribunal.
