SARFAESI Act, 2002

Supreme Court clarifies limitation for counterclaims in banking disputes: Topline Shoes vs. Punjab National Bank (2022)

/ B.R. Gavai, Banking Disputes, Banking Law, Debt Recovery, Judges, Limitation Act, 1963, Limitation Act, 1963 with Article 113, Limitation Act, 1963 with Article 22, Pamidighantam Sri Narasimha

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 clarifies limitation for counterclaims in banking disputes: Topline Shoes vs. Punjab National Bank (2022) Read Post »

Supreme Court quashes High Court order in SARFAESI Act case: Kotak Mahindra Bank vs. Narendra Jayantilal Trivedi (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 13(4), SARFAESI Act, 2002 with Section 17

Supreme Court quashes High Court order in SARFAESI Act case: Kotak Mahindra Bank vs. Narendra Jayantilal Trivedi (2022) Date of the Judgment: May 13, 2022 Citation: 2022 INSC 487 Judges: M.R. Shah, J. and B.V. Nagarathna, J. Can a High Court grant interim relief that effectively stalls recovery proceedings under the Securitisation and Reconstruction of

Supreme Court quashes High Court order in SARFAESI Act case: Kotak Mahindra Bank vs. Narendra Jayantilal Trivedi (2022) Read Post »

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 quashes High Court order in auction dispute: SRS Advertising vs. Kamal Garg (2022)

/ B. V. Nagarathna, Debt Recovery, Debt Recovery Appellate Tribunal, Debt Recovery Tribunal, Judges, Jurisdiction, M. R. Shah, Writ Jurisdiction

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 quashes High Court order in auction dispute: SRS Advertising vs. Kamal Garg (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 Directs Deposit and Resolves Dispute in Debt Recovery Case

/ A.S. Bopanna, Debt Recovery Appellate Tribunal, Debt Recovery Tribunal, Judges, M.R. Shah, Recovery of Debts and Bankruptcy Act, 1993, Recovery of Debts and Bankruptcy Act, 1993 with Section 25

Supreme Court Directs Deposit and Resolves Dispute in Debt Recovery Case LEGAL ISSUE: Dispute over the amount due and payable in a debt recovery case. CASE TYPE: Debt Recovery Case Name: XLO INDIA LIMITED AND ANOTHER vs. INTERNATIONAL ASSET RECONSTRUCTION COMPANY PRIVATE LIMITED & OTHERS [Judgment Date]: 27 October 2021 Introduction Date of the Judgment:

Supreme Court Directs Deposit and Resolves Dispute in Debt Recovery Case 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 Directs Restructuring of Dues and Loan Disbursements in Amrapali Case (10 June 2020)

/ Arun Mishra, Debt Recovery, Insolvency Law, Insolvency Law with NPA Accounts, Judges, Loan Restructuring, Project Management Consultant, Real Estate Law, Real Estate Law with Floor Area Ratio (FAR), Real Estate Law with Home Buyers, Uday Umesh Lalit

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 Directs Restructuring of Dues and Loan Disbursements in Amrapali Case (10 June 2020) 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 Secured Creditor Rights Over Tax Dues in Property Dispute: Connectwell Industries vs. Union of India (2020)

/ Debt Recovery, Debt Recovery Tribunal, Deepak Gupta, Income Tax Act, 1961, Income Tax Act, 1961 with Rule 16, Income Tax Act, 1961 with Rule 2, Judges, L. Nageswara Rao

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 Prioritizes Secured Creditor Rights Over Tax Dues in Property Dispute: Connectwell Industries vs. Union of India (2020) Read Post »

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