Search Results for "Security Interest Enforcement"

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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
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Supreme Court Quashes Criminal Proceedings Under Section 182 IPC for Lack of Val...

Search Results for "Security Interest Enforcement"

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High Court

Bombay High Court Dismisses Writ Petition Challenging DRAT's Pre-Deposit Order Under SARFAESI Act. Pre-deposit of 30% of Amount Due Under Section 18(1) of SARFAESI Act is Mandatory and DRAT Has No Discretion to Waive It.

15 Nov 2011

The petitioner, Shree Vindhya Paper Mills Ltd., challenged an order of the Debt Recovery Appellate Tribunal (DRAT) dated 4 November 2011, which requir...

High Court

Bombay High Court Dismisses Petitions Challenging SARFAESI Act Applicability to Cooperative Banks and Arbitration Awards. Multi-State Cooperative Bank held to be a 'bank' under SARFAESI Act, and arbitration under Multi-State Cooperative Societies Act does not bar subsequent SARFAESI proceedings.

11 Jan 2024

The judgment concerns three writ petitions filed by borrowers challenging actions taken by Abhyudaya Co-operative Bank Ltd. and Piramal Capital and Ho...

High Court

Bombay High Court Upholds Bank's Right to Enforce Security Under SARFAESI Act Outside Insolvency; No Fetters on Secured Creditor. Secured creditor entitled to stand outside insolvency proceedings under Presidency-Towns Insolvency Act, 1909 and proceed under SARFAESI Act for recovery of dues.

25 Feb 2019

The appellant, Punjab National Bank, stood as a secured creditor by virtue of a guarantee executed by the second respondent, Soumit Ranjan Jena, for a...

Supreme Court

Supreme Court Dismisses Guarantors' Appeals in SARFAESI Act Enforcement Case, Upholding Sale of Mortgaged Properties. The Court held that multiple litigations by guarantors constitute abuse of process and cannot defeat the expeditious recovery mechanism under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

23 Sep 2021

The Supreme Court of India dealt with civil appeals arising from special leave petitions challenging a common judgment of the Madras High Court. The d...

High Court

Bombay High Court Allows Writ Petition by Debenture Trustee Seeking Enforcement of Security Interest Against Developer and Its Directors Under SARFAESI Act — Held That Trustee Is a 'Secured Creditor' Entitled to Take Possession of Mortgaged Property Despite Pending RERA Proceedings.

25 Jun 2021

The petitioner, IDBI Trusteeship Services Limited, a debenture trustee, filed a writ petition seeking a direction to the District Collector, Pune, and...

High Court

Bombay High Court Examines Whether Assignee Bank Can Invoke SARFAESI Act for Debt Assigned by NBFC. The case involves interpretation of 'debt' and 'secured creditor' under SARFAESI Act, 2002 and RDDBFI Act, 1993, and the effect of assignment from a non-banking financial company to a bank.

16 Jul 2015

The petitioner, a banking company, sought to enforce security interest under the SARFAESI Act after acquiring a debt and underlying security from a no...

High Court

Bombay High Court Quashes Sales Tax Attachment Over Bank's Secured Assets Under SARFAESI Act — Priority of Secured Creditor Upheld. Section 26E of SARFAESI Act gives priority to secured creditors over crown debts, and attachment by sales tax authorities cannot defeat the bank's security interest.

22 Jan 2024

The petitioner, Union Bank of India, filed a writ petition under Article 226 of the Constitution of India seeking to quash an attachment order dated 2...

High Court

Bombay High Court Upholds Public Interest Petition and Directs Expeditious Disposal of Section 14 SARFAESI Applications by Magistrates. Section 14 Powers Are Ministerial and No Notice to Borrower Is Required, Emphasizing Need to Recover Public Money Quickly.

20 Aug 2011

The matter originated as a Criminal Writ Petition filed by International Asset Reconstruction Company Private Limited, an asset reconstruction company...

High Court

Bombay High Court Allows Writ Petition by Secured Creditor Against Tax Recovery Attachment — Priority of Secured Creditor Over Crown Debts Upheld Under SARFAESI Act. The court held that Section 26E of the SARFAESI Act gives priority to secured creditors over income tax dues, and the attachment order passed after creation of security interest is void.

28 Jul 2021

The petitioner, Edelweiss Asset Reconstruction Co. Ltd., a securitization and asset reconstruction company registered under the SARFAESI Act, 2002, fi...

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Regarding Security Interest and Pledge of Shares — NCLAT Order Set Aside. The Court held that the Corporate Debtor's creation of security by way of pledge of shares of its subsidiary in favour of the appellants constituted a valid security interest under the Insolvency and Bankruptcy Code, 2016, and the moratorium under Section 14 does not bar the enforcement of such security by a secured creditor.

24 Aug 2020

The present appeal arises from an order of the National Company Law Appellate Tribunal (NCLAT) dated 24.08.2020, which dismissed the appeal filed by t...

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