Supreme Court Clarifies Jurisdiction in Bank Loan Recovery Cases: Bank of Rajasthan vs. VCK Shares (2022) LEGAL ISSUE: Whether a borrower can file an independent suit against a bank in a civil court when the bank has already initiated recovery proceedings at the Debts Recovery Tribunal (DRT). CASE TYPE: Banking Law, Debt Recovery Case Name: […]
Supreme Court Clarifies Limitation Act Applicability in Debt Recovery Appeals Date of the Judgment: 24 November 2021 Judges: M.R. Shah, J. and Sanjiv Khanna, J. Citation: Avneesh Chandan Gadgil & Anr. vs. Oriental Bank of Commerce & Ors., Civil Appeal No. 6898 of 2021, decided on 24 November 2021 Can the delay in filing an
Supreme Court Settles Applicability of SARFAESI Act to Cooperative Banks (2020) LEGAL ISSUE: Whether the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) applies to cooperative banks. CASE TYPE: Banking Law Case Name: Pandurang Ganpati Chaugule v. Vishwasrao Patil Murgud Sahakari Bank Limited Judgment Date: May 05, 2020
Supreme Court Upholds DRT Decree, Dismisses Civil Suits Challenging it: Canara Bank vs. P. Selathal (2020) LEGAL ISSUE: Jurisdiction of Civil Courts to challenge orders of Debt Recovery Tribunal (DRT). CASE TYPE: Debt Recovery/Civil. Case Name: Canara Bank vs. P. Selathal and others. Judgment Date: 28 February 2020 Date of the Judgment: 28 February 2020
Supreme Court Allows Secured Creditors to File Winding Up Petitions After DRT Decree LEGAL ISSUE: Whether a secured creditor can initiate a winding-up petition against a company after obtaining a decree and recovery certificate from the Debts Recovery Tribunal (DRT). CASE TYPE: Insolvency Law, Company Law Case Name: Swaraj Infrastructure Pvt. Ltd. vs. Kotak Mahindra
Supreme Court Upholds SARFAESI Act, Limits High Court Intervention in Loan Recovery: State Bank of Travancore vs. Mathew K.C. (2018) Date of the Judgment: January 30, 2018 Citation: 2018 INSC 75 Judges: Rohinton Fali Nariman, J., Navin Sinha, J. Can a High Court interfere with loan recovery proceedings initiated under the Securitisation and Reconstruction of
This judgment addresses a dispute over payment of security service charges. The core legal issue is whether the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 can be invoked when proceedings are ongoing before the Debt Recovery Tribunal (DRT). The Supreme Court of India settled this dispute, clarifying the jurisdiction of both bodies. This
Introduction Date of the Judgment: September 16, 2008 Judges: Justice Tarun Chatterjee, Justice Aftab Alam When is it acceptable for a higher court to intervene, even when other legal avenues are available? The Supreme Court of India addressed this critical question in Mariamma Roy vs. Indian Bank, focusing on the principles of natural justice. The
