Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

Supreme Court Upholds Auction Sale: IDBI Bank vs. Ramswaroop Daliya (2024) INSC 780

/ Auction Law, Constitutional Law, Constitutional Law with Article 142, Natural Justice, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Security Interest (Enforcement) Rules, 2002 with Rule 9(4), Security Interest (Enforcement) Rules, 2002 with Rule 9(5)

Supreme Court Upholds Auction Sale: IDBI Bank vs. Ramswaroop Daliya (2024) INSC 780 LEGAL ISSUE: Whether an auction sale can be cancelled if the auction purchaser fails to deposit the balance amount within the stipulated time, especially when the delay is not attributable to the purchaser. CASE TYPE: Auction Law, Securitisation and Reconstruction of Financial […]

Supreme Court Upholds Auction Sale: IDBI Bank vs. Ramswaroop Daliya (2024) INSC 780 Read Post »

Supreme Court Upholds Auction Sale Under SARFAESI Act, Dismissing Borrower’s Writ Petition (10 April 2024)

/ Alternative Remedy, Auction Sale, Constitutional Law, Constitutional Law with Article 226, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with Section 17, Writ Jurisdiction

Supreme Court Upholds Auction Sale Under SARFAESI Act, Dismissing Borrower’s Writ Petition LEGAL ISSUE: Whether a High Court can entertain a writ petition under Article 226 of the Constitution of India when an alternative statutory remedy is available under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

Supreme Court Upholds Auction Sale Under SARFAESI Act, Dismissing Borrower’s Writ Petition (10 April 2024) Read Post »

Supreme Court directs High Court to not decide on disputed facts in writ jurisdiction: State of UP vs. Ehsan (2023) INSC 906 (13 October 2023)

/ Alternative Remedy, Factual Disputes, Urban Land (Ceiling and Regulation) Act, 1976, Urban Land (Ceiling and Regulation) Act, 1976 with Section 10(3), Urban Land (Ceiling and Regulation) Act, 1976 with Section 10(5), Urban Land (Ceiling and Regulation) Repeal Act, 1999 with Section 4, Writ Jurisdiction

Supreme Court directs High Court to not decide on disputed facts in writ jurisdiction: State of UP vs. Ehsan (2023) INSC 906 (13 October 2023) LEGAL ISSUE: Whether a High Court should decide on disputed questions of fact in writ jurisdiction, especially when such issues were not decided in previous rounds of litigation. CASE TYPE:

Supreme Court directs High Court to not decide on disputed facts in writ jurisdiction: State of UP vs. Ehsan (2023) INSC 906 (13 October 2023) Read Post »

Supreme Court Upholds Auction Cancellation for Non-Payment: Jammu Development Authority vs. S. Paramjeet Singh (2023)

/ Auction Law, Breach of contract, Contract Law, Contract Law with Letter of Intent, Property Law, Property Law with Allotment

Supreme Court Upholds Auction Cancellation for Non-Payment: Jammu Development Authority vs. S. Paramjeet Singh (2023) LEGAL ISSUE: Whether the Jammu Development Authority (JDA) was justified in canceling the allotment of a plot due to non-payment of the full premium amount by the auction winner. CASE TYPE: Civil Law, Property Law, Auction Law. Case Name: Jammu

Supreme Court Upholds Auction Cancellation for Non-Payment: Jammu Development Authority vs. S. Paramjeet Singh (2023) Read Post »

Supreme Court Upholds Auction Sale, Rejects Agreement Holder’s Claim in SARFAESI Case: G. Vikram Kumar vs. State Bank of Hyderabad (2 May 2023)

/ C.T. Ravikumar, Constitutional Law, Constitutional Law with Article 226, Judges, M.R. Shah, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with Section 13, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with Section 17, Transfer of Property Act, 1882, Transfer of Property Act, 1882 with Section 54, Transfer of Property Act, 1882 with Section 91

Supreme Court Upholds Auction Sale, Rejects Agreement Holder’s Claim in SARFAESI Case LEGAL ISSUE: Whether an agreement to sale holder can challenge an auction notice under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and claim rights over the property. CASE TYPE: Securitisation and Debt Recovery Case

Supreme Court Upholds Auction Sale, Rejects Agreement Holder’s Claim in SARFAESI Case: G. Vikram Kumar vs. State Bank of Hyderabad (2 May 2023) Read Post »

Supreme Court Sets Aside Auction of Sick Company’s Assets Due to Procedural Flaws: Rajiv Kumar Jindal vs. BCI Staff Colony (27 April 2023)

/ Ajay Rastogi, Auction Law, Bela M. Trivedi, Judges, Public Auction, Sick Industrial Companies Act, 1985, Sick Industrial Companies Act, 1985 with Section 18(2)(k), Sick Industrial Companies Act, 1985 with Section 20(4), Sick Industrial Companies Act, 1985 with Section 21(c)

Supreme Court Sets Aside Auction of Sick Company’s Assets Due to Procedural Flaws: Rajiv Kumar Jindal vs. BCI Staff Colony (2023) LEGAL ISSUE: Whether the auction of a sick company’s assets was valid when the Operating Agency failed to follow mandatory procedures. CASE TYPE: Insolvency and Corporate Law Case Name: Rajiv Kumar Jindal and Others

Supreme Court Sets Aside Auction of Sick Company’s Assets Due to Procedural Flaws: Rajiv Kumar Jindal vs. BCI Staff Colony (27 April 2023) Read Post »

Supreme Court Directs Expedited Resolution on Interest and Mesne Profits in Auction Sale Dispute: Rockline Construction Company vs. Doha Bank QSC (24 April 2023)

/ Auction Sale, Civil Law, Debt Recovery Appellate Tribunal, Debt Recovery Laws, Interest Rate, Judges, Krishna Murari, Mesne Profits, Recovery of Debts and Bankruptcy Act, 1993, Recovery Officer, Sanjay Karol

Supreme Court Directs Expedited Resolution on Interest and Mesne Profits in Auction Sale Dispute: Rockline Construction Company vs. Doha Bank QSC (24 April 2023) LEGAL ISSUE: Determination of the rate of interest and mesne profits in a dispute arising from a set-aside auction sale. CASE TYPE: Debt Recovery/Civil. Case Name: Rockline Construction Company vs. Doha

Supreme Court Directs Expedited Resolution on Interest and Mesne Profits in Auction Sale Dispute: Rockline Construction Company vs. Doha Bank QSC (24 April 2023) Read Post »

Supreme Court Orders Refund of Forfeited Amount in Auction Dispute: Mohd. Shariq vs. Punjab National Bank (2023)

/ Ajay Rastogi, Auction Law, Bela M. Trivedi, Judges, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with Rule 9(5)

Supreme Court Orders Refund of Forfeited Amount in Auction Dispute: Mohd. Shariq vs. Punjab National Bank (2023) LEGAL ISSUE: Whether a bank can forfeit the earnest money of a successful bidder when the bidder was not informed about pending legal proceedings related to the auctioned property. CASE TYPE: Securitisation and Reconstruction of Financial Assets and

Supreme Court Orders Refund of Forfeited Amount in Auction Dispute: Mohd. Shariq vs. Punjab National Bank (2023) Read Post »

Supreme Court Upholds Auction Sale Despite Minor Property Description Error: Varimadugu Obi Reddy vs. B. Sreenivasulu & Ors. (2022)

/ Ajay Rastogi, C.T. Ravikumar, Judges, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13(2), SARFAESI Act, 2002 with Section 13(4), Security Interest (Enforcement) Rules, 2002, Security Interest (Enforcement) Rules, 2002 with Rule 9(4), Security Interest (Enforcement) Rules, 2002 with Rule 9(5)

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 Upholds Auction Sale Despite Minor Property Description Error: Varimadugu Obi Reddy vs. B. Sreenivasulu & Ors. (2022) Read Post »

Supreme Court Upholds Debtor’s Right to Reclaim Property Under Income Tax Act: R.S. Infra-Transmission Ltd. vs. Saurinindubhai Patel (2022)

/ Auction Sale, B.V. Nagarathna, Income Tax Act, 1961, Income Tax Act, 1961 with Rule 60, Judges, M.R. Shah, Recovery of Debt

Supreme Court Upholds Debtor’s Right to Reclaim Property Under Income Tax Act: R.S. Infra-Transmission Ltd. vs. Saurinindubhai Patel (2022) LEGAL ISSUE: Whether a debtor’s right to reclaim property under Rule 60 of the Second Schedule of the Income Tax Act, 1961, can be defeated due to a minor shortfall in payment caused by an error

Supreme Court Upholds Debtor’s Right to Reclaim Property Under Income Tax Act: R.S. Infra-Transmission Ltd. vs. Saurinindubhai Patel (2022) Read Post »

Supreme Court Clarifies Moratorium Under IBC: Indian Overseas Bank vs. RCM Infrastructure Ltd. (2022)

/ B.R. Gavai, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 14, Insolvency and Bankruptcy Code, 2016 with Section 238, Judges, L. Nageswara Rao, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with Section 13, Security Interest (Enforcement) Rules, 2002 with Rules 8 and 9, Transfer of Property Act, 1882, Transfer of Property Act, 1882 with Section 54

Supreme Court Clarifies Moratorium Under IBC: Indian Overseas Bank vs. RCM Infrastructure Ltd. (2022) LEGAL ISSUE: The core legal issue is whether a sale of assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is complete upon confirmation of sale or upon full payment and issuance

Supreme Court Clarifies Moratorium Under IBC: Indian Overseas Bank vs. RCM Infrastructure Ltd. (2022) Read Post »

Supreme Court clarifies auction sale obligations in Rajasthan Financial Corporation vs. Jain Bandhu Sneh Resorts (27 April 2022)

/ Auction Law, B.R. Gavai, Civil Law, Contract Law, Default, Financial Corporation, Judges, L. Nageswara Rao

Rajasthan Financial Corporation vs. Jain Bandhu Sneh Resorts: Supreme Court on Auction Sales LEGAL ISSUE: Whether a sale in auction can be set aside solely on the ground of price escalation. CASE TYPE: Civil, Contract Law, Auction Law Case Name: Rajasthan Financial Corporation vs. M/s Jain Bandhu Sneh Resorts Private Limited Judgment Date: 27 April

Supreme Court clarifies auction sale obligations in Rajasthan Financial Corporation vs. Jain Bandhu Sneh Resorts (27 April 2022) Read Post »

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