Supreme Court Upholds Auction Sale, Rejects Challenge Based on Waiver and Estoppel: Pravesh Kumar Sachdeva vs. State of Uttar Pradesh (2018) Date of the Judgment: September 13, 2018 Citation: 2018 INSC 780 Judges: Madan B. Lokur, J., S. Abdul Nazeer, J., Deepak Gupta, J. Can a party challenge an auction sale after accepting the excess […]
Supreme Court Clarifies Jurisdiction in Mortgage Disputes Under SARFAESI Act: State Bank of India vs. Allwyn Alloys Pvt. Ltd. (2018) Date of the Judgment: May 17, 2018 Citation: 2018 INSC 445 Judges: Dipak Misra, CJI, A.M. Khanwilkar, J., Dr. D.Y. Chandrachud, J. Can a civil court interfere in matters related to secured assets under the
Supreme Court Allows Appeal Against DRT Order in Securitisation Act Case: M/S. Neel Enterprises vs. State Bank of India (2018) Date of the Judgment: May 10, 2018 Citation: M/S. Neel Enterprises & Anr. vs. State Bank of India & Anr., Civil Appeal No. 4989 of 2018 (Arising out of SLP(C) No. 7085/2016) Judges: Kurian Joseph,
Supreme Court Clarifies Timeline for Balance Payment in Property Auction under SARFAESI Act LEGAL ISSUE: Determining the commencement date for the 15-day period to deposit the remaining 75% of the auction amount in a property sale under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. CASE TYPE: Securitisation and
Supreme Court Upholds Auction Sale of Hotel, Clarifies Section 13(3A) of SARFAESI Act: ITC vs. Blue Coast Hotels (2018) LEGAL ISSUE: Whether the failure to reply to a borrower’s representation under Section 13(3A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) invalidates subsequent actions by the
LEGAL ISSUE: Whether an auction purchaser can challenge the forfeiture of deposit under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) by filing an application before the Debt Recovery Tribunal (DRT). CASE TYPE: Securitisation Law Case Name: Agarwal Tracom Pvt. Ltd. vs. Punjab National Bank & Ors.
Date of the Judgment: 25 October 2017 Citation: (2017) INSC 923 Judges: R.K. Agrawal, J. and Abhay Manohar Sapre, J. Can a government body forfeit a security deposit when the terms of the auction were not fully disclosed? The Supreme Court of India addressed this question in a case involving a public auction of land.
Date of the Judgment: 21 July 2017 Citation: Not Available Judges: Kurian Joseph, J. and R. Banumathi, J. Can a court direct a specific order for the sale of a debtor’s assets? The Supreme Court addressed this question in a case involving a bank’s recovery of dues. This case highlights the court’s intervention to ensure
Can a court accept a bid in an auction if the offered price, after deducting taxes, falls below the reserve price? The Supreme Court of India addressed this question in a recent case concerning the sale of metallurgical coke. This case highlights the importance of ensuring fair value in court-ordered auctions. The judgment was delivered
Introduction Date of the Judgment: September 16, 2008 Judges: Justice Tarun Chatterjee, Justice Aftab Alam When is it acceptable for a higher court to intervene, even when other legal avenues are available? The Supreme Court of India addressed this critical question in Mariamma Roy vs. Indian Bank, focusing on the principles of natural justice. The
