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...
In present facts of the case, the Hon’ble High Court while dismissing the Writ Petition under Article 226 held that Notice issued by Bank under Section 13(2) of the SARFAESI Act, 2002 cannot be challenged by invoking Writ jurisdiction as effective alternate remedy has been provided under Section 17 of the Act.
Article analysed impact of SC judgment on DRT power to condone delay in filing an securitization application – Section 17(1) of SARFAESI Act
Petitioners have efficacious alternative remedy of filing appeal under SARFAESI Act before DRT and therefore writ petition is dismissed
There is no mention of the term re-sealing of property in SARFAESI Act, 2022 and the Recovery of Debts and Bankruptcy (RDB) Act, 1993
This paper mainly discusses the scenario in the current legal system with respect to loan repayments and the laws related to them. The foundation of the debt recovery tribunals was only to ease the prompt recovery of debt payable back to Indian banks and finance house or to recover the Non- Performing Assets (NPA)
SC clarified that banks cannot be restrained from selling the mortgaged property by holding public auction and realize the outstanding dues, unless the borrower pays entire amount outstanding along with the cost and expenses of auction.
Asset Reconstruction Company India Ltd. Vs State Of U.P. (Allahabad High Court) Chief Secretary of the State of Uttar Pradesh to issue clear directions to all the concerned authorities in the State of Uattar Pradesh to comply strictly the provisions of Section 14 of the SARFAESI Act, 2002 and handover physical possession of the secured […]
Om Prakash Kumawat Vs Rekha Kumawat (Rajasthan High Court) In case of Indiabulls Housing Finance Limited , the Apex Court, after appreciating Sections 35 & 37 of the SARFAESI Act, held that arbitration proceedings and proceedings under the SARFAESI Act can be resorted to simultaneously Contention of learned counsel for the petitioners that in view […]
State cannot claim preference over the subject property for the purpose of recovery of the dues towards tax. It is not in dispute that the first charge was created in favour of the bank and the bank in exercise of its powers under the SARFAESI Act, put the subject property to auction.
Bhagwan Singh Vs State of Himachal (Himachal High Court) It is concluded that SARFAESI Act and RDB Act shall have overriding effect to provisions of HPVAT Act. Hence, the said property is to be permitted to be transferred in favour of petitioners free from all encumbrances in terms of E-aution. Facts- Petitioners are purchasers of […]
