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Search Results for "SARFAESI auction"

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High Court

High Court of Karnataka Dismisses Petitions Challenging SARFAESI Sale Notice by Cooperative Bank — Alternative Remedy Under Section 17 Available. Cooperative Bank is a 'Bank' Under Section 2(c) of SARFAESI Act, 2002, and Can Initiate Proceedings Under the Act.

7 Aug 2023

The judgment pertains to two writ petitions filed by Sri N Ravindranath Kamath and another petitioner challenging the sale notice dated 19.01.2021 iss...

High Court

High Court of Karnataka Quashes Sub-Registrar's Endorsement Rejecting Sale Certificate as Time-Barred Under Section 89 of Registration Act, 1908. Petitioner Purchased Property in SARFAESI Auction, Bank Forwarded Certificate Late but Court Held No Limitation for Registration Under Section 89(4).

26 Jun 2013

The petitioner, M/s. MGM Pooja Buildtech Private Limited, purchased a property (Plot No.108, Metagali, K.R.S. Road, Mysore, measuring 4,056 sq. meters...

Supreme Court

Supreme Court Allows Refund of Rs.40 Crores Deposited by Borrower in SARFAESI Act Proceedings — Deposit Made to Show Bona Fides, Not as Payment of Dues. The Court held that a deposit made pursuant to an interim order to demonstrate bona fides cannot be appropriated by the Bank when the interim order is set aside and the OTS is rejected.

20 Aug 2019

The case arises from a dispute between M/s Kut Energy Pvt. Ltd. and others (appellants/borrowers) and Punjab National Bank and others (respondents) co...

High Court

High Court Dismisses Appeal Against SARFAESI Action — No Interference with Bank's Possession Under Section 14 of SARFAESI Act, 2002. Writ Petition Challenging District Magistrate's Order Under Section 14 of SARFAESI Act, 2002 Dismissed Due to Availability of Alternative Remedy Under Section 17 of the Act.

10 Jul 2020

The appellants, a partnership firm and its partners, were engaged in the manufacture and trade of Sponge Iron. They had obtained financial assistance ...

High Court

Bombay High Court Quashes DRT/DRAT Orders Allowing Sale of Mortgaged Property Below Reserve Price — Unsecured Creditor Cannot Be Treated as Secured Creditor with Priority Over Mortgagee. The court held that treating an unsecured creditor as a secured creditor with priority over the mortgagee is a fundamental fallacy, and directed a fresh auction in accordance with law.

18 Mar 2024

The writ petition was filed by Assets Reconstruction Company (India) Ltd. (ARCIL), the beneficiary of a mortgage over Flat No. 61, Basant Apartment, M...

High Court

High Court of Karnataka Allows Petitioner in Property Dispute and Electricity Disconnection Case Due to Time-Barred Municipal Action and Violation of Court Order. BBMP's Cancellation of Khata After 20 Years Held Time-Barred Under Section 114A of Karnataka Municipal Corporations Act, 1976, and BESCOM's Disconnection Notice Quashed for Disregarding Interim Status Quo Order.

26 Feb 2026

The dispute involved two consolidated writ petitions concerning property rights and administrative actions. The petitioner had acquired Flat No. 3 in ...

High Court

Bombay High Court Dismisses Writ Petitions Challenging DRT Orders Under SARFAESI Act — Petitioner Failed to Show Jurisdictional Error or Violation of Natural Justice. The court held that the petitioner had an alternative remedy of appeal under Section 18 of the SARFAESI Act, 2002, and no exceptional grounds were made out for interference under Article 226.

30 Nov -0001

The petitioner, Phoenix ARC Private Limited, a company registered under the Companies Act, 1956, acting as a trust, filed two writ petitions under Art...

Supreme Court

Supreme Court Dismisses Bank's Appeal in SARFAESI Act Case Due to Procedural Non-Compliance. The court found that the appellant bank failed to adhere to the requirements under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, despite the respondent's loan default and non-payment of a one-time settlement.

22 Jan 2024

The dispute arose from a loan transaction in 1996, where the respondent, a sole proprietor of a firearms business, borrowed Rs. 2,00,000 from the appe...

High Court

High Court of Karnataka Dismisses Borrower's Challenge to Auction in SARFAESI Act Case Due to Suppression of Facts and Abuse of Process. The court held that the borrower's failure to disclose earlier litigation and filing of multiple proceedings disentitled them to relief, dismissing the writ petition with costs.

24 Mar 2025

The petitioners, M/S. SLN Gaja Industries and its partner G. Lokesh, were borrowers from Canara Bank. They defaulted on a loan, and the bank initiated...

High Court

High Court of Karnataka Dismisses Writ Petition Challenging DRT Order in SARFAESI Act Case — Order Rejecting Intervention Application Not an Interim Order Under Section 18. The court held that an order rejecting an application for intervention under Order I Rule 10 CPC is not an 'interim order' under Section 18 of the SARFAESI Act, and therefore an appeal lies before the DRAT.

29 Jan 2025

The petitioner, G. Corp Lotus Mall Private Limited, filed a writ petition under Articles 226 and 227 of the Constitution of India challenging an order...

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