Search Results for "secured asset"

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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...
Bombay High Court at Goa Dismisses Review Petition in Partition Suit Impleadment...
Bombay High Court Acquits Accused in Corruption Case Due to Unreliable Trap Witn...

Search Results for "secured asset"

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Supreme Court

Supreme Court Allows Secured Creditor's Appeal in Co-operative Bank Liquidation Case, Holding Priority Over Workmen's Dues Under SARFAESI Act. Section 26E of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 grants overriding priority to secured creditors over all other debts, including statutory dues like provident fund and wages.

20 Nov 2025

The appellant, a secured creditor, had advanced loans to a co-operative sugar factory (the respondent Society). The factory became defunct and default...

High Court

Bombay High Court Considers Interim Application for Judgment on Admissions in Admiralty Suit. Plaintiff Seeks Relief Under Order XII Rule 6 of Code of Civil Procedure, 1908, Alleging Admissions by Defendants.

4 Apr 2025

The present matter concerns an interim application filed by the plaintiff, Raj Transport and Trading Company, in the pending Admiralty Suit No. 17 of ...

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 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 SARFAESI Proceedings Against Guarantor's Property — Maintains That Guarantor Is a 'Borrower' Under Section 2(1)(f) of SARFAESI Act and That Writ Jurisdiction Is Not Available When Alternative Statutory Remedy Exists Under Section 17 of SARFAESI Act.

20 Jul 2023

The petitioner, Mr. Latif Yusuf Manikkoth, filed a writ petition before the Bombay High Court challenging the possession notice issued by the Bank of ...

High Court

High Court of Bombay at Nagpur Bench Allows Bank's Petition, Holds Secured Creditor's Charge Prevails Over State's Statutory First Charge Under MVAT Act and Profession Tax Act. The court ruled that Section 26E of the SARFAESI Act, 2002 gives priority to the secured creditor over all other debts, including statutory dues of the State, and that the non-obstante clause in the SARFAESI Act overrides the provisions of the Maharashtra Value Added Tax Act, 2002 and the Profession Tax Act, 1975.

17 Dec 2021

The petitioner, Union Bank of India, had sanctioned cash credit and inland letter of credit facilities of Rs.10 crores to respondent No.4, M/s. Linkso...

Supreme Court

Supreme Court Allows Secured Creditor's Appeal in SARFAESI Act Priority Dispute — Employees' Dues Cannot Override Bank's Claim Over Sale Proceeds of Co-operative Society's Assets. The Court held that Section 529A of the Companies Act, 1956 does not apply to co-operative societies due to Section 167 of the Maharashtra Co-operative Societies Act, 1960, and employees' dues recoverable as arrears of land revenue do not create a paramount charge over secured assets.

4 Dec 2019

The appeal arose from a dispute between the Maharashtra State Co-operative Bank Ltd. (appellant) and employees of Vainganga Sahakari Sakhar Karkhana L...

High Court

High Court of Karnataka Allows Writ Petition Against DRAT Order in SARFAESI Act Case — Appeal Under Section 18 Held Maintainable Despite Availability of Civil Suit. Statutory Remedy Under SARFAESI Act Cannot Be Ousted by Alternative Remedy of Civil Suit.

27 Jun 2019

The petitioner, Trishul Developers, a partnership firm, had availed a loan from L & T Housing Finance Limited (respondent No.1). Upon default, the res...

High Court

High Court of Bombay Allows Secured Creditor's Appeal Against Direction to Deposit Title Deeds in Insolvency — Official Assignee Cannot Demand Title Deeds Without Adjudication of Mortgage Validity Under Presidency Towns Insolvency Act, 1909.

25 Feb 2019

The appeal was filed by Punjab National Bank (the appellant) against an order of a learned Single Judge of the Bombay High Court in Official Assignee'...

High Court

Bombay High Court Allows Revision Against Rejection of Leave to Defend in Summary Suit. Bank Granted Conditional Leave to Defend on Deposit of Rs. 25 Lakhs for Triable Issues Regarding Liability as Mortgagee in Possession Under Order 37 CPC.

8 Oct 2015

The case involves a Civil Revision Application filed by ICICI Bank Limited (the applicant/original defendant No.1) against the order dated 30th June 2...

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