Corporate Law : Explore how the SARFAESI Act transformed banking practices, enhancing recovery processes while raising concerns about borrowers' r...
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...
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,...
Company Law : NCLAT Delhi held that trusteeship deeds are generally signed between the trust on behalf of the lenders and the personal/ corporat...
Corporate Law : Hon’ble Supreme Court in the case of Gujarat Urja Vikas Nigam Ltd. has held that the NCLT cannot exercise its jurisdiction over ...
Corporate Law : Supreme Court rules in favor of a bona fide auction-purchaser under the SARFAESI Act, emphasizing due diligence and addressing own...
Corporate Law : Where secured creditor failed to pay the liquidation costs within 90 days after its intention to realize the security interest, th...
Corporate Law : NCLT Mumbai held that sale of property of personal guarantors by financial creditor under SARFAESI Act during protection of morato...
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...
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.
Bombay High Court held that after the recognition of the first charge of the assessee as a secured creditor, the charge of the Sales Tax Department to recover the sales tax dues would be valid.
