Introduction Date of the Judgment: February 28, 2025 Judges: Justices Sudhanshu Dhulia and Prashant Kumar Mishra Citation: 2025 INSC 288 When a business takes a loan for a project, can it be considered a “consumer” if something goes wrong with the bank’s service? The Supreme Court of India recently addressed this important question. This case […]
Supreme Court Upholds Setting Aside of Auction Sale Due to Procedural Lapses: Govind Kumar Sharma vs. Bank of Baroda (2024) Date of the Judgment: April 18, 2024 Citation: 2024 INSC 326 Judges: Justice Vikram Nath and Justice Satish Chandra Sharma Can a bank’s failure to follow mandatory procedure during an auction sale lead to its
Supreme Court Clarifies Pre-Deposit Requirements under SARFAESI Act LEGAL ISSUE: Interpretation of Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) regarding pre-deposit requirements for appeals. CASE TYPE: Securitisation and Debt Recovery Case Name: M/s Sidha Neelkanth Paper Industries Private Limited & Another vs. Prudent
Supreme Court clarifies limitation for counterclaims in banking disputes: Topline Shoes vs. Punjab National Bank (2022) LEGAL ISSUE: Determining the applicable limitation period for a counterclaim against a bank regarding funds withheld from a current account. CASE TYPE: Banking/Debt Recovery Case Name: Topline Shoes Limited & Another vs. Punjab National Bank Judgment Date: July 20,
Supreme Court quashes High Court order in auction dispute: SRS Advertising vs. Kamal Garg (2022) LEGAL ISSUE: Whether the High Court exceeded its jurisdiction by granting final relief in a matter where an interim relief was sought, while the main appeal was pending before the Debt Recovery Appellate Tribunal (DRAT). CASE TYPE: Debt Recovery/Auction Dispute
Supreme Court Clarifies One Time Settlement (OTS) Eligibility for Loan Defaulters: Bijnor Urban Cooperative Bank vs. Meenal Agarwal (2021) LEGAL ISSUE: Whether a borrower can claim One Time Settlement (OTS) as a matter of right and whether High Courts can issue a writ of mandamus to direct banks to grant OTS benefits. CASE TYPE: Banking
Supreme Court Directs Restructuring of Dues and Loan Disbursements in Amrapali Case (2020) LEGAL ISSUE: Whether NBCC can be held liable for disputes and liabilities of Amrapali Group projects, whether the interest rate of 12% imposed on Royalgolf Link City Projects Private Limited was justified, whether the FAR can be returned to Noida and Greater
Supreme Court Prioritizes Secured Creditor Rights Over Tax Dues in Property Dispute LEGAL ISSUE: Whether a prior secured debt takes precedence over government tax dues when a property is sold by a Debt Recovery Tribunal (DRT). CASE TYPE: Debt Recovery/Tax Law Case Name: M/s. Connectwell Industries Pvt. Ltd. vs. Union of India Judgment Date: March
Supreme Court clarifies the forum for recovery of dues in nationalized textile undertakings: UCO Bank vs. National Textile Corporation Ltd. (2020) LEGAL ISSUE: Determining the appropriate forum for resolving disputes regarding liabilities of a nationalized textile undertaking. CASE TYPE: Civil Appellate Jurisdiction Case Name: UCO Bank vs. National Textile Corporation Ltd. & Anr. Judgment Date:
