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Search Results for "SARFAESI notice"

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High Court

Bombay High Court Allows Writ Petition to Quash SARFAESI Act Notices and Orders Against Guarantors Due to Lack of Proper Service and Non-Compliance with Section 13(2) Requirements. The court held that proper service of notice under Section 13(2) of the SARFAESI Act is mandatory before taking possession under Section 13(4), and failure to prove service renders the entire action invalid.

17 Mar 2016

The petitioners, Shivabassappa I. Kankanwadi and his wife Sushila S. Kankanwadi, filed a writ petition before the Bombay High Court at Goa challenging...

High Court

High Court of Karnataka Quashes SARFAESI Notices Against MSME Borrower for Non-Compliance with Mandatory Pre-Action Protocol. Bank's failure to follow RBI Circular dated 29.05.2015 requiring classification as NPA only after 90 days and issuance of 60-day notice before invoking SARFAESI renders proceedings invalid.

29 Apr 2025

The petitioners, M/s. Metro Steel Section (Firm) and its partners, are MSME borrowers who availed credit facilities from the State Bank of India. The ...

High Court

High Court of Karnataka Quashes E-Auction Notice and Sale Certificate in SARFAESI Act Case Due to Violation of Rule 8(6) of Security Interest (Enforcement) Rules, 2002. Failure to Serve 30-Day Notice Before Auction Renders Sale Void.

14 Dec 2022

The petitioners, Sri T.S. Nataraj, Sri Harsha N., and Smt. N. Seema, filed a writ petition under Articles 226 and 227 of the Constitution of India bef...

High Court

High Court of Karnataka Dismisses Appeal by Asset Reconstruction Company Against Borrowers in SARFAESI Act Matter — Upholds Single Judge's Order Quashing Possession Notice Due to Non-Compliance with Section 13(2) and (3A). The Court Held That the Secured Creditor Must Strictly Adhere to the Statutory Procedure Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Before Taking Possession.

5 Jun 2024

The appellant, M/s. International Asset Reconstruction Company Limited, a secured creditor, issued a possession notice under the Securitisation and Re...

High Court

High Court of Judicature at Bombay Sets Aside Recovery Notices for Sugarcane Purchase Tax and Sales Tax from Auction Purchaser; Petitioner Not Liable for Pre-existing Statutory Dues of Defaulter Sugar Factory. Sale of Secured Assets under SARFAESI Act on 'As Is Where Is' Basis Did Not Include Notice of Tax Dues Absent from Revenue Records at Time of Bid Submission.

1 Aug 2017

The matter arose from a writ petition filed by a sugar factory (petitioner) challenging communications dated 29th November 2016 and 23rd January 2017 ...

High Court

Bombay High Court Dismisses Writ Petition Challenging Auction Sale Under SARFAESI Act — Alternative Remedy Under Section 17 SARFAESI Act Available. Possession Notice Defect Does Not Vitiate Auction Sale After Confirmation; Auction Purchaser's Title Upheld.

30 Nov -0001

The petitioners, Janakalyan Sahakari Bank Limited and Mohanish Rajak, filed a writ petition under Article 226 of the Constitution of India challenging...

High Court

Bombay High Court Allows Writ Petition Against Sales Tax Auction of Property Already Secured Under SARFAESI Act. Securitisation Act Overrides State Revenue Recovery Laws Under Section 35, and Sale Must Be Conducted by Secured Creditor.

17 Nov 2011

The petitioners, Viraat Ispat Limited and another, challenged an auction notice dated 13 September 2011 issued by the Assistant Commissioner of Sales ...

Supreme Court

Supreme Court Allows Appeal in SARFAESI Act Case — Technical Defect in Demand Notice Not Fatal When No Prejudice Caused. The Court held that a mere inadvertent use of a different group company name on the demand notice does not invalidate proceedings under the SARFAESI Act if the borrower was not misled and no substantial prejudice was caused.

1 Jan 2020

The appeal arose from a dispute between M/s. L&T Housing Finance Limited (appellant) and M/s. Trishul Developers and another (respondents) concerning ...

High Court

WRIT PETITION NO. 5204 OF 2019

20 Nov 2019

The present writ petition was filed by six petitioners, including two public limited companies and four individuals, challenging an order dated 30.05....

High Court

Bombay High Court Allows Writ Petition by Banks Against Additional District Magistrate's Order Disposing Section 14 SARFAESI Application Without Taking Possession. The Court Held That the Magistrate's Role Under Section 14 Is Ministerial and Cannot Adjudicate on the Validity of the Underlying Debt or Security Interest.

19 Jul 2022

The petitioners, authorized officers of four financial institutions (IDBI Bank, Axis Bank, Bank of Baroda, and CFM Asset Reconstruction Pvt. Ltd.), ha...

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