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 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 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 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 settles Stamp Duty on Assignment of Debt: Asset Reconstruction Co. vs. Chief Controlling Revenue Authority (26 April 2022)

/ Gujarat Stamp Act, 1958, Gujarat Stamp Act, 1958 with Article 20(a), Gujarat Stamp Act, 1958 with Article 45(f), Gujarat Stamp Act, 1958 with Section 9(a), Hemant Gupta, 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 Section 2(zd), Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with Section 5(1)(b), Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with Section 5(2), V. Ramasubramanian

Supreme Court Clarifies Stamp Duty on Assignment Deeds with Power of Attorney Date of the Judgment: 26 April 2022 Citation: Civil Appeal No. 3070 of 2022 (@ Special Leave Petition (Civil) No. 34723 of 2016) Judges: Hemant Gupta, J., V. Ramasubramanian, J. Can a single document, an assignment agreement, be subjected to stamp duty twice,

Supreme Court settles Stamp Duty on Assignment of Debt: Asset Reconstruction Co. vs. Chief Controlling Revenue Authority (26 April 2022) Read Post »

Supreme Court clarifies ineligibility under Section 29A(h) of IBC: Bank of Baroda vs. MBL Infrastructures (2022)

/ Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 29A, Insolvency and Bankruptcy Code, 2016 with Section 7, Insolvency Resolution Process, Judges, M.M. Sundresh, Sanjay Kishan Kaul, 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(2)

Supreme Court clarifies ineligibility under Section 29A(h) of IBC: Bank of Baroda vs. MBL Infrastructures (2022) LEGAL ISSUE: Interpretation of Section 29A(h) of the Insolvency and Bankruptcy Code, 2016 concerning the eligibility of a resolution applicant who has provided a guarantee to a creditor. CASE TYPE: Insolvency Law Case Name: Bank of Baroda & Anr.

Supreme Court clarifies ineligibility under Section 29A(h) of IBC: Bank of Baroda vs. MBL Infrastructures (2022) Read Post »

Supreme Court Clarifies Eligibility Under Section 29A(h) of IBC: Bank of Baroda vs. MBL Infrastructures (2022)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 29A, Insolvency and Bankruptcy Code, 2016 with Section 7, Judges, M.M. Sundresh, Sanjay Kishan Kaul, 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(2)

Supreme Court Clarifies Eligibility Under Section 29A(h) of IBC: Bank of Baroda vs. MBL Infrastructures (2022) Date of the Judgment: January 18, 2022 The Supreme Court of India, in a recent judgment, addressed a critical question regarding the eligibility of resolution applicants under the Insolvency and Bankruptcy Code, 2016 (IBC). Specifically, the court examined whether

Supreme Court Clarifies Eligibility Under Section 29A(h) of IBC: Bank of Baroda vs. MBL Infrastructures (2022) Read Post »

Supreme Court Clarifies Ineligibility under Section 29A(h) of IBC for Guarantors: Bank of Baroda vs. MBL Infrastructures Ltd. (2022)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 29A, Insolvency and Bankruptcy Code, 2016 with Section 7, Judges, M.M. Sundresh, Sanjay Kishan Kaul, 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(2)

Supreme Court Clarifies Ineligibility under Section 29A(h) of IBC for Guarantors: Bank of Baroda vs. MBL Infrastructures Ltd. (2022) LEGAL ISSUE: Interpretation of Section 29A(h) of the Insolvency and Bankruptcy Code, 2016 regarding the eligibility of a personal guarantor to submit a resolution plan. CASE TYPE: Insolvency Law Case Name: Bank of Baroda & Anr.

Supreme Court Clarifies Ineligibility under Section 29A(h) of IBC for Guarantors: Bank of Baroda vs. MBL Infrastructures Ltd. (2022) Read Post »

Supreme Court settles the applicability of the SARFAESI Act to Cooperative Banks in Banking Law (2020)

/ Aniruddha Bose, Arun Mishra, Banking Law, Banking Regulation Act, 1949 with Section 5, Constitutional Law, Constitutional Law with Entry 32 of List II, Constitutional Law with Entry 45 of List I, Distribution of Legislative Powers, Indira Banerjee, Judges, M.R. Shah, Recovery of Debts Due to Banks and Financial Institutions Act, 1993, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Vineet Saran

Supreme Court Settles Applicability of SARFAESI Act to Cooperative Banks (2020) LEGAL ISSUE: Whether the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) applies to cooperative banks. CASE TYPE: Banking Law Case Name: Pandurang Ganpati Chaugule v. Vishwasrao Patil Murgud Sahakari Bank Limited Judgment Date: May 05, 2020

Supreme Court settles the applicability of the SARFAESI Act to Cooperative Banks in Banking Law (2020) Read Post »

Supreme Court Orders Return of Original Documents to Auction Purchaser, Except for Disputed Land: Tripower Enterprises vs. State Bank of India (2020)

/ A.M. Khanwilkar, Ajay Rastogi, Debts Recovery Appellate Tribunal (DRAT), Debts Recovery Tribunal (DRT), Judges, Mortgage, Transfer of Property Act, 1882, 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(4), Transfer of Property Act, 1882

Supreme Court Orders Return of Original Documents to Auction Purchaser, Except for Disputed Land: Tripower Enterprises vs. State Bank of India (2020) LEGAL ISSUE: Whether an auction purchaser is entitled to the original title documents of a property bought in a public auction, when the validity of the mortgage is under dispute and a portion

Supreme Court Orders Return of Original Documents to Auction Purchaser, Except for Disputed Land: Tripower Enterprises vs. State Bank of India (2020) Read Post »

Supreme Court settles pre-deposit requirement for appeals under SARFAESI Act: Union Bank of India vs. Rajat Infrastructure Pvt. Ltd. (2 March 2020)

/ Aniruddha Bose, Constitutional Law, Constitutional Law with Article 226, Deepak Gupta, 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 Section 18

Supreme Court Clarifies Pre-Deposit Requirement for DRAT Appeals under SARFAESI Act LEGAL ISSUE: Whether pre-deposit is mandatory for entertaining an appeal before the Debt Recovery Appellate Tribunal (DRAT) under Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). CASE TYPE: Banking/Finance Law Case Name: Union

Supreme Court settles pre-deposit requirement for appeals under SARFAESI Act: Union Bank of India vs. Rajat Infrastructure Pvt. Ltd. (2 March 2020) Read Post »

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