SARFAESI Act, 2002

Supreme Court Clarifies District Magistrate’s Power to Authorize Advocates Under SARFAESI Act: NKGSB Cooperative Bank vs. Subir Chakravarty (25 February 2022)

/ A.M. Khanwilkar, C.T. Ravikumar, Judges, Loan Recovery, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 14, Securitisation

Supreme Court Clarifies Powers of District Magistrate Under SARFAESI Act Date of the Judgment: 25 February 2022 Citation: (2022) INSC 179 Judges: A.M. Khanwilkar, J., C.T. Ravikumar, J. Can a District Magistrate (DM) or Chief Metropolitan Magistrate (CMM) authorize an advocate to take possession of secured assets under the Securitisation and Reconstruction of Financial Assets […]

Supreme Court Clarifies District Magistrate’s Power to Authorize Advocates Under SARFAESI Act: NKGSB Cooperative Bank vs. Subir Chakravarty (25 February 2022) Read Post »

Supreme Court Upholds SARFAESI Act: Phoenix ARC Prevails Over Borrowers in Loan Recovery Dispute (12 January 2022)

/ B.V. Nagarathna, Constitutional Law, Constitutional Law with Article 226, Judges, M.R. Shah, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13(2), SARFAESI Act, 2002 with Section 17, Security Interest (Enforcement) Rules, 2002

Supreme Court Upholds SARFAESI Act: Phoenix ARC Prevails Over Borrowers in Loan Recovery Dispute LEGAL ISSUE: Maintainability of writ petitions against private Asset Reconstruction Companies (ARCs) in matters related to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act. CASE TYPE: Securitisation and Asset Reconstruction Law Case Name: Phoenix ARC

Supreme Court Upholds SARFAESI Act: Phoenix ARC Prevails Over Borrowers in Loan Recovery Dispute (12 January 2022) Read Post »

Supreme Court Upholds SARFAESI Act: Phoenix ARC Wins Against Vishwa Bharati Vidya Mandir (2022)

/ B.V. Nagarathna, Constitutional Law, Constitutional Law with Article 226, Judges, M.R. Shah, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13, SARFAESI Act, 2002 with Section 17, Security Interest (Enforcement) Rules, 2002 with Rule 8

Supreme Court Upholds SARFAESI Act: Phoenix ARC Wins Against Vishwa Bharati Vidya Mandir (2022) LEGAL ISSUE: Maintainability of writ petitions against private Asset Reconstruction Companies (ARCs) under Article 226 of the Constitution of India concerning actions under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). CASE TYPE:

Supreme Court Upholds SARFAESI Act: Phoenix ARC Wins Against Vishwa Bharati Vidya Mandir (2022) Read Post »

Supreme Court Clarifies One Time Settlement (OTS) Eligibility for Loan Defaulters: Bijnor Urban Cooperative Bank vs. Meenal Agarwal (2021)

/ B.V. Nagarathna, Banking Law, Constitutional Law, Constitutional Law with Article 226, Debt Recovery, Judges, M.R. Shah, One Time Settlement (OTS), SARFAESI Act, 2002

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 Clarifies One Time Settlement (OTS) Eligibility for Loan Defaulters: Bijnor Urban Cooperative Bank vs. Meenal Agarwal (2021) Read Post »

Supreme Court clarifies the applicability of Limitation Act to IBC: Sesh Nath Singh vs. Baidyabati Sheoraphuli Co-operative Bank Ltd. (22 March 2021)

/ Corporate Insolvency Resolution Process, Hemant Gupta, Indira Banerjee, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 238A, Insolvency and Bankruptcy Code, 2016 with Section 7, Judges, Limitation Act, 1963, Limitation Act, 1963 with Article 137, Limitation Act, 1963 with Section 14, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13(2), SARFAESI Act, 2002 with Section 13(4)

Supreme Court Clarifies Limitation for IBC Applications: Sesh Nath Singh vs. Baidyabati Sheoraphuli Co-operative Bank Ltd. (2021) LEGAL ISSUE: Whether Section 14 of the Limitation Act, 1963 applies to applications under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and whether delays in filing such applications can be condoned. CASE TYPE: Insolvency Law

Supreme Court clarifies the applicability of Limitation Act to IBC: Sesh Nath Singh vs. Baidyabati Sheoraphuli Co-operative Bank Ltd. (22 March 2021) Read Post »

Supreme Court settles liability for previous electricity dues in auction sales: Telangana State Southern Power Distribution Company Limited vs. Srigdhaa Beverages (2020) INSC 368

/ Auction Sales, Electricity Act, 2003, Electricity Act, 2003 with Section 56, Electricity Dues, Judges, K.M. Joseph, Sanjay Kishan Kaul, SARFAESI Act, 2002, Security Interest (Enforcement) Rules, 2002

Supreme Court settles liability for previous electricity dues in auction sales: Telangana State Southern Power Distribution Company Limited vs. Srigdhaa Beverages (2020) INSC 368 Date of the Judgment: June 01, 2020 Citation: (2020) INSC 368 Judges: Sanjay Kishan Kaul, J. and K.M. Joseph, J. Can an auction purchaser be held liable for the previous electricity

Supreme Court settles liability for previous electricity dues in auction sales: Telangana State Southern Power Distribution Company Limited vs. Srigdhaa Beverages (2020) INSC 368 Read Post »

Supreme Court Prioritizes Employee Dues over Secured Creditor in SARFAESI Act Case: Maharashtra State Co-operative Bank Ltd. vs. Babulal Lade (2019)

/ Enforcement of Security Interest, Government Claims on Land, Judges, Krishna Murari, Maharashtra Land Revenue Code, 1966, Maharashtra Land Revenue Code, 1966 with Section 169, Maharashtra Recognition of Trade Unions and Prevention of Unfair Labour Practices Act, 1971, Maharashtra Recognition of Trade Unions and Prevention of Unfair Labour Practices Act, 1971 with Section 50, Mohan M. Shantanagoudar, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13, Unfair Labour Practices

Supreme Court Prioritizes Employee Dues over Secured Creditor in SARFAESI Act Case: Maharashtra State Co-operative Bank Ltd. vs. Babulal Lade (2019) LEGAL ISSUE: Whether employee dues can take precedence over the claim of a secured creditor under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). CASE TYPE:

Supreme Court Prioritizes Employee Dues over Secured Creditor in SARFAESI Act Case: Maharashtra State Co-operative Bank Ltd. vs. Babulal Lade (2019) Read Post »

Supreme Court settles the authority of Chief Judicial Magistrate under Section 14 of the SARFAESI Act in secured asset possession cases (23 September 2019)

/ A.M. Khanwilkar, Banking Law, Chief Judicial Magistrate, Chief Metropolitan Magistrate, Dinesh Maheshwari, Judges, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 37, Section 14, SARFAESI Act, 2002, Secured Creditor

Supreme Court Clarifies Powers Under Section 14 of SARFAESI Act: CJM Competent in Non-Metropolitan Areas LEGAL ISSUE: Whether the Chief Judicial Magistrate (CJM) is competent to process requests from secured creditors to take possession of secured assets under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

Supreme Court settles the authority of Chief Judicial Magistrate under Section 14 of the SARFAESI Act in secured asset possession cases (23 September 2019) Read Post »

Supreme Court clarifies the rights of tenants under the SARFAESI Act in mortgage disputes: Bajarang Agarwal vs. Central Bank of India (2019)

/ Enforcement of Security Interest, Indira Banerjee, Judges, Leases of Immovable Property, Mohan M. Shantanagoudar, N.V. Ramana, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13, SARFAESI Act, 2002 with Section 14, Transfer of Property Act, Transfer of Property Act with Section 107

Supreme Court Clarifies Tenant Rights Under SARFAESI Act: Bajarang Agarwal vs. Central Bank of India (2019) LEGAL ISSUE: The interplay between the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and the rights of tenants, particularly concerning eviction from mortgaged properties. CASE TYPE: Real Estate/Mortgage Law, focusing on

Supreme Court clarifies the rights of tenants under the SARFAESI Act in mortgage disputes: Bajarang Agarwal vs. Central Bank of India (2019) Read Post »

Supreme Court Upholds Bank’s Sale of Mortgaged Property Under SARFAESI Act: Shakeena vs. Bank of India (20 August 2019)

/ A.M. Khanwilkar, Ajay Rastogi, Judges, Registration Act, 1908, Registration Act, 1908 with Section 17(2)(xii), SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13(2), SARFAESI Act, 2002 with Section 13(4), SARFAESI Act, 2002 with Section 13(8), Transfer of Property Act, 1882, Transfer of Property Act, 1882 with Section 52, Transfer of Property Act, 1882 with Section 60

Supreme Court Upholds Bank’s Sale of Mortgaged Property Under SARFAESI Act: Shakeena vs. Bank of India (2019) LEGAL ISSUE: Whether the sale of a secured asset under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is complete upon issuance of a sale certificate, or only upon registration

Supreme Court Upholds Bank’s Sale of Mortgaged Property Under SARFAESI Act: Shakeena vs. Bank of India (20 August 2019) Read Post »

Supreme Court Upholds SARFAESI Act Invocation by Successor-in-Interest in Indiabulls Housing Finance vs. Deccan Chronicle Holdings (2018)

/ A.K. Sikri, Arbitration and Conciliation Act, 1996, Arbitration and Conciliation Act, 1996 with Section 9, Ashok Bhushan, Judges, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13(2), SARFAESI Act, 2002 with Section 2(1)(f), SARFAESI Act, 2002 with Section 35

Supreme Court Upholds SARFAESI Act Invocation by Successor-in-Interest in Indiabulls Housing Finance vs. Deccan Chronicle Holdings (2018) LEGAL ISSUE: Whether a successor-in-interest, like Indiabulls Housing Finance Limited, can invoke the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) when the original lender, Indiabulls Financial Services Limited (IBFSL), was

Supreme Court Upholds SARFAESI Act Invocation by Successor-in-Interest in Indiabulls Housing Finance vs. Deccan Chronicle Holdings (2018) Read Post »

Supreme Court Upholds SARFAESI Act, Limits High Court Intervention in Loan Recovery: State Bank of Travancore vs. Mathew K.C. (2018)

/ Constitutional Law, Constitutional Law with Article 226, Judges, Navin Sinha, Recovery of Debts Due to Banks and Financial Institutions Act, 1993, Rohinton Fali Nariman, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13(2), SARFAESI Act, 2002 with Section 13(4), SARFAESI Act, 2002 with Section 17

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

Supreme Court Upholds SARFAESI Act, Limits High Court Intervention in Loan Recovery: State Bank of Travancore vs. Mathew K.C. (2018) Read Post »

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