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...
Kerala High Court dismisses writ petition challenging SARFAESI e-auction, citing Supreme Court precedents on alternative remedies and judicial restraint.
Madras High Court dismisses writ petition against SARFAESI sale notice, reiterating that statutory appeal under SARFAESI Act is the appropriate remedy.
The Punjab and Haryana High Court ruled that private banks, like ICICI, are not “State” under Article 12, precluding writ petitions for directions on loan recovery. Borrowers must use SARFAESI Act remedies.
NCLAT Delhi held that appellant to be treated as secured Financial Creditor based on the registered charge with CERSAI in accordance with Regulation 21 of the IBBI (Liquidation Process) Regulations, 2016. Accordingly, appeal allowed and order set aside.
Telangana High Court held that the whole auction proceedings are rightly vitiated since auction was done blatantly in violation of Rule 9(3) and Rule 9(4) of the Security Interest (Enforcement) Rules, 2002. Accordingly, writ dismissed.
SC held that even orders considered voidable or non est (non-existent) must be formally set aside through appropriate legal proceedings and cannot be unilaterally ignored
The Calcutta High Court ruled that a secured creditor under the SARFAESI Act holds priority over CGST dues, citing Section 26E of the SARFAESI Act and Supreme Court precedents.
Patna High Court held that High Courts should not entertain application under Article 226 of the Constitution, if there is an effective remedy available to the aggrieved persons under the provisions of the SARFAESI Act. Accordingly, writ held as not maintainable.
Madras High Court held that as per the provisions of Section 22 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993, Debt Recovery Tribunal is not bound by the procedure laid down by the Code of Civil Procedure.
NCLAT Delhi held that since the value of corporate debtor was covered by exemption issued by MCA by notification dated 07.03.2024 hence provision of section 5 of Competition Act, 2002 is not applicable, accordingly, there was no requirement of any approval from Competition Commission of India [CCI] for approval of resolution plan.
