Search Results for "asset reconstruction"

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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...
Bombay High Court Dismisses Writ Petition Challenging Concurrent Findings in Sui...
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Bombay High Court Acquits Accused in Corruption Case Due to Unreliable Trap Witn...

Search Results for "asset reconstruction"

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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

Bombay High Court Decrees Suit in Favour of Financial Advisor in Commercial Summary Suit for Professional Fees — Interpretation of Mandate Letter Options for Success Fee on Cash Sales of NPAs. Court holds that where the Bank exercised option of 100% cash sales, the Financial Advisor is entitled to success fee at the higher rate of 0.50% on cash received, as per option (a) of the Mandate Letter dated 1 July 2017.

25 Feb 2025

The Plaintiff, Special Situation Advisors (India) Pvt. Ltd., a company registered under the Companies Act, 1956, engaged in providing financial adviso...

High Court

Bombay High Court Dismisses Writ of Prohibition Against Securitization Application Under Section 14 of SARFAESI Act — Petitioner Failed to Establish Lack of Jurisdiction as Respondent Was a Secured Creditor Under Section 2(1)(zd) of the Act. The court held that the challenge to the maintainability of the application under Section 14 was premature and that the petitioner could raise all contentions before the Chief Metropolitan Magistrate.

21 Feb 2025

The petitioner, M/s. Pyramid Developers, a partnership firm registered under the Indian Partnership Act, 1932, filed a writ petition under Articles 22...

High Court

Bombay High Court Dismisses Writ Petition Challenging DRT Order in SARFAESI Act Matter — Asset Reconstruction Company's Appeal Against Auction Sale Set Aside Due to Lack of Jurisdiction and Limitation. The Court upheld the DRAT order dismissing the appeal as barred by limitation and on merits, confirming the auction sale in favour of the respondent.

11 Feb 2022

The petitioner, Phoenix ARC Pvt. Ltd., an asset reconstruction company registered under the SARFAESI Act, 2002, filed a writ petition challenging the ...

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 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

High Court of Karnataka Dismisses Writ Petition Challenging Section 14 SARFAESI Order — Alternative Remedy Under Section 17 Available. Court Holds That an Order Under Section 14 of the SARFAESI Act Can Be Challenged Under Section 17, and Writ Petition Without Exhausting Statutory Remedy Is Not Maintainable.

30 Jan 2019

The petitioner, Smt. Vimala Bhushan, filed a writ petition under Articles 226 and 227 of the Constitution of India challenging an order passed by the ...

High Court

Bombay High Court Dismisses Writ Petitions Challenging SARFAESI Auction Sale Against Personal Guarantors. Alternative Remedy Under Section 17 of SARFAESI Act, 2002 Not Exhausted; Auction Sale Confirmed and Sale Certificate Issued.

25 Jan 2017

The petitioners, M/s Utkarsh Cement Sales Pvt. Ltd. and its directors/guarantors, filed two writ petitions before the Bombay High Court (Aurangabad Be...

High Court

Bombay High Court Dismisses Petition Challenging SARFAESI Auction for Non-Compliance with Undertaking. Failure to Pay Agreed Amount and Challenge Auction Notice After Possession Constitutes Waiver of Right to Challenge Under Section 13(4) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

31 Jan 2005

The petitioners, Mr. Manoj D. Kapasi and Ruby Coach Building Company, owed Rs.3,64,78,000 to respondent No.2 bank. The bank issued a notice under Sect...

Tribunals

NCLAT Allows Appeal Against NCLT Order Dismissing Section 7 Application as Abated Due to Death of Corporate Debtor's Director. The Tribunal held that the death of a director does not abate proceedings under the Insolvency and Bankruptcy Code, 2016, and the Resolution Professional can continue the process.

30 Nov -0001

The appeal arises from an order of the National Company Law Tribunal (NCLT), Bengaluru Bench, dated 30.12.2019, which dismissed IA No.47/2019 in CP(IB...

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