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 : Learn how secured creditors can relinquish or realize their security interest during liquidation under IBC, including timelines an...
Corporate Law : Explore how the SARFAESI Act transformed banking practices, enhancing recovery processes while raising concerns about borrowers' r...
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...
Income Tax : The ITAT Mumbai ruled that income earned by a securitisation trust created under the SARFAESI Act was taxable in the hands of Secu...
Corporate Law : The Court held that disputed issues and ongoing statutory proceedings cannot be challenged through a writ petition. It emphasized ...
Corporate Law : The High Court held that DRT orders are appealable under Section 18 of the SARFAESI Act. It ruled that writ jurisdiction cannot be...
Corporate Law : The Tribunal admitted the voluntary insolvency application after examining financial statements, bank records, and other documents...
Corporate Law : The tribunal relied on Supreme Court precedent to hold that a second proceeding cannot be filed when an earlier challenge has been...
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) ...
Fema / RBI : Sale notice for sale of movable properties- E-Auction Sale Notice for Sale of Movable Assets under the Securitisation and Reconstr...
The High Court directs the Tehsildar to take physical possession of secured assets under Section 14 of SARFAESI Act after prolonged delay, emphasizing the statutory time limits.
Learn the critical protections available to borrowers facing recovery actions, including notice, appeal, and redemption rights, to safeguard property and financial interests.
The DRAT set aside the DRT order directing the bank to update credit information, ruling that former directors and guarantors cannot reopen withdrawn loan proceedings to alter CIBIL records.
The appellate tribunal restrained the bank from taking physical possession of the property until disposal of the pending application or the three-month period, ensuring fair treatment of the appellant.
The judgment confirmed that Section 11(2) of the EPF Act creates a first charge that overrides SARFAESI’s priority clause. Thus, provident fund contributions, interest, penalties, and damages must be paid before clearing secured creditors’ dues.
The Court addressed the delay in executing a Section 14 SARFAESI order and directed authorities to hand over possession within four weeks. The ruling ensures timely implementation despite administrative transfer issues.
DRAT Chennai held that mortgage created on the basis of copy of the sale deed is not legal. Accordingly, mortgage created in favour of the Punjab and Sind Bank based on copy of the sale deed is held invalid.
The Court held that civil courts retain jurisdiction to cancel registered sale deeds, as DRTs cannot adjudicate such relief. The ruling sets aside rejection of the plaint and restores the suit for trial, clarifying limits of Section 34 SARFAESI.
DRAT Chennai held that person aggrieved by an order of the recovery officer can prefer an appeal before Debts Recovery Tribunal. Accordingly, DRAT disposes of this Appeal by sending the appeal to DRT.
Dismissing borrower’s petition, High Court held that a 15-day gap between publication and auction meets statutory requirement for a subsequent sale and that auction notice contained sufficient property description and valid valuation.
