SARFAESI Act, 2002 with Section 37

Supreme Court Clarifies Forfeiture of Earnest Money in SARFAESI Auctions: Central Bank of India vs. Shanmugavelu (2024) INSC 80 (2 February 2024)

/ Indian Contract Act, 1872, Indian Contract Act, 1872 with Section 73, Indian Contract Act, 1872 with Section 74, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13(4), SARFAESI Act, 2002 with Section 35, SARFAESI Act, 2002 with Section 37

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 Clarifies Forfeiture of Earnest Money in SARFAESI Auctions: Central Bank of India vs. Shanmugavelu (2024) INSC 80 (2 February 2024) 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 allows simultaneous SARFAESI and arbitration proceedings in loan recovery: M.D. Frozen Foods Exports Pvt. Ltd. vs Hero Fincorp Ltd. (21 September 2017)

/ Arbitration and Conciliation Act, 1996, Arbitration and Conciliation Act, 1996 with Section 37(2)(b), Judges, Rohinton Fali Nariman, Sanjay Kishan Kaul, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13, SARFAESI Act, 2002 with Section 35, SARFAESI Act, 2002 with Section 37

LEGAL ISSUE: Whether arbitration and SARFAESI proceedings can occur simultaneously and if the SARFAESI Act applies to debts existing before the Act’s application to a Non-Banking Financial Company (NBFC). CASE TYPE: Loan Recovery/Banking Law Case Name: M.D. Frozen Foods Exports Pvt. Ltd. & Ors. vs. Hero Fincorp Ltd. Judgment Date: 21 September 2017 Can a

Supreme Court allows simultaneous SARFAESI and arbitration proceedings in loan recovery: M.D. Frozen Foods Exports Pvt. Ltd. vs Hero Fincorp Ltd. (21 September 2017) Read Post »

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