Corporate Law : SARFAESI Act of 2002 addresses India's non-performing assets. Section 13 empowers secured creditors to enforce security interests ...
Goods and Services Tax : Explore the Madras High Court ruling on allowing Input Tax Credit without physical invoices, emphasizing electronic records for GS...
Fema / RBI : Get answers to common queries about displaying secured assets under SARFAESI Act 2002. Learn about asset disclosure, updates, and ...
Corporate Law : Read how Bombay High Court's recent judgment issued crucial directives for swift processing of creditors' applications under SARFA...
Corporate Law : Article examining the two approaches Financial Institutions in India use for vehicle seizure: traditional vs. SARFAESI methods. Ex...
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 : The Union Cabinet today approved introduction of the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill,...
Corporate Law : Legal analysis of SARFAESI Act: Exemption from stamp duty for documents favoring asset reconstruction. Case: Assets Care Vs Ankit ...
Corporate Law : Kerala High Court rules that a secured creditor cannot proceed under SARFAESI Act if a civil suit for recovery has been dismissed ...
Corporate Law : Kerala High Court intervenes in coercive recovery proceedings against petitioners for financial advance default, granting time for...
Corporate Law : In Govind Kumar Sharma & Anr Vs Bank of Baroda case, Supreme Court sets aside auction sale under SARFAESI Act due to procedural la...
Goods and Services Tax : Bombay High Court held that MVAT Authorities would not have priority in the recourse to the assets that are secured in favour of t...
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) ...
Fema / RBI : Sale notice for sale of movable properties- E-Auction Sale Notice for Sale of Movable Assets under the Securitisation and Reconstr...
Corporate Law : Central Government hereby makes the following amendments in the notification of the Government of India, in the Ministry of Financ...
The respondents contended that the petitioner, being a financial institution under the SARFAESI Act, should exclusively resort to the statutory remedies provided by the Act, and arbitration should not be permissible. This article explores the court’s reasoning and its impact on the dispute resolution landscape.
Supreme court in Haldiram Incorporation Pvt. Ltd. Vs Amrit Hatcheries Pvt. Ltd. & Ors. held that Properties sold under Auction Sale in SARFAESI Act before declare insolvency, could not be treated assets of Corporate Debtor.
Himachal Pradesh High Court held that the provisions of Section 26E of the Securitisation and Reconstructions of Financial Assets and Enforcement of Security Interest Act (SARFAESI) Act, 2002 shall override the rights of others to recover the outstanding liability of taxes dues etc on the mortgaged/charged property from the original owner etc.
Analysis of the Medineutrina Pvt. Ltd vs DIC case in Bombay High Court involving property auction, encumbrances, and the legal obligations of auction purchasers
Madras High Court’s judgment on the priority of charge for secured creditors over tax dues and the impact on debt realization.
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.