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 Supreme Court has remanded a case to the Karnataka High Court to re-examine the priority dispute between EPFO dues and secured creditors under the SARFAESI Act. The ruling mandates a new hearing to balance these competing claims.
The Punjab and Haryana High Court dismissed a challenge to a SARFAESI Act notice, directing the petitioners to use the statutory remedies available under the Act.
Calcutta High Court held that DRAT order dismissing appeal of MSME upheld since MSME did not avail of the facilities and allowed the Securitization and Reconstruction of financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 to run its course, then it is not entitled to any protection.
Supreme Court held that Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises does require MSME to notify the lending bank by producing authenticated and verifiable documents/material to show its eligibility to get the benefit of the said Framework.
NCLT Ahmedabad held that application for initiation of Corporate Insolvency Resolution Process [CIRP] filed by Financial Creditor [SBI] u/s. 7 of IBC against Corporate Debtor [Raninga Paper Mills Private Limited] is admitted as existence of financial debt and default demonstrated.
Madras High Court held that the provisional attachment order passed under Section 83 of the CGST Act could not be made a basis to challenge any action that may be taken in future or any order passed towards recovery of loan under the SARFAESI Act.
Delhi High Court held that liability of deceased guarantor to repay debt shall fall upon legal representative. Hence, petitioner being legal representative of deceased guarantor is liable to make pre-deposits as envisaged in section 21 of the Recovery and Debts and Bankruptcy Act, 1993 [RDB Act].
The J&K High Court has ruled that a fresh notice to a borrower’s legal heirs is not required for a bank to take possession of an asset under Section 14 of the SARFAESI Act.
Ministry of Finance addresses Lok Sabha questions on misuse of SARFAESI Act, detailing existing safeguards for borrowers and regulatory oversight by RBI.
SC held writ petitions against ARC’s proposed SARFAESI action as not maintainable due to alternative remedy under Section 17 of the SARFAESI Act.
