Supreme Court Upholds Auction, Settles Contempt in SARFAESI Act Case Date of the Judgment: 13 December 2024 Citation: (2024) INSC 978 Judges: J.B. Pardiwala, J., Manoj Misra, J. Can a borrower bypass the legal process and prevent a successful auction purchaser from taking possession of a property? The Supreme Court of India, in a recent […]
Supreme Court Clarifies Forfeiture of Earnest Money in SARFAESI Auctions LEGAL ISSUE: Applicability of contract law principles to forfeiture of earnest money deposit under SARFAESI Act. CASE TYPE: Securitization and Asset Recovery Case Name: Central Bank of India vs. Shanmugavelu Judgment Date: 2 February 2024 Date of the Judgment: 2 February 2024 Citation: (2024) INSC
Supreme Court Upholds Auction Sale Despite Minor Property Description Error: Varimadugu Obi Reddy vs. B. Sreenivasulu & Ors. (2022) LEGAL ISSUE: Whether a minor error in the description of a mortgaged property in an auction notice invalidates the sale under the SARFAESI Act, 2002. CASE TYPE: Securitisation and Debt Recovery Case Name: Varimadugu Obi Reddy
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 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 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 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
