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Division Bench of Karnataka High Court Upholds Bank's Appeal, Reinstates Section 14 Order Under SARFAESI Act. Writ Petition Challenging Magistrate's Order Dismissed on Ground of Availability of Efficacious Alternate Remedy Under Section 17 of SARFAESI Act, 2002.

The appeal arose from a writ petition filed by respondent-borrowers challenging an order dated 13.03.2020 passed by the Chief Judicial Magistrate unde...

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High Court Dismisses Bank's Revision in SARFAESI Act Suit — Civil Court Jurisdiction Not Barred. Suit for Declaration and Injunction Regarding Personal Guarantee Held Maintainable as It Does Not Relate to Enforcement of Security Interest Under Section 34 of SARFAESI Act.

The case involves a civil revision application filed by Allahabad Bank against an order of the Joint Civil Judge, Junior Division, Nagpur, rejecting t...

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Bombay High Court Allows Writ Petition Challenging SAFEMA Forfeiture Orders — Bank's Mortgage Rights Protected as Prior Encumbrance. The Court held that forfeiture under Section 7 of SAFEMA does not extinguish a prior bona fide mortgage created before the issuance of the show cause notice.

The Petitioner, Development Credit Bank Ltd., filed a writ petition under Article 226 of the Constitution of India challenging an order dated 12th Mar...

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Supreme Court Sets Aside High Court Order Waiving Predeposit for Appeal Under SARFAESI Act. Mandatory Deposit Under Section 18 Cannot Be Waived Even by High Court Under Article 226.

The Supreme Court considered appeals against the Bombay High Court's order dated 25.11.2019 and 16.12.2019, which had relegated the appellant (Union B...

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Bombay High Court Allows Bank to Participate in Auction of Attached Sugar Stock in Workers' Dues Recovery Case. The court held that the direction to recover under MLR Code was beyond Section 33C(1) of Industrial Disputes Act, 1947, but permitted the bank to participate in auction of attached sugar.

The Maharashtra State Cooperative Bank Ltd. (petitioner) had advanced loans to Yashwant Sahakari Sakhar Karkhana (respondent No.4), a sugar factory, a...

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High Court of Karnataka Reviews Order Directing Liquidator to Accept Sale Proceeds in Insolvency Case. Insolvency and Bankruptcy Board of India Challenges Writ Order Alleging Irregularities in Auction Process Under IBC.

The review petition was filed by the Insolvency and Bankruptcy Board of India (IBBI) under Section 114 read with Order XLVII Rule 1 of the Code of Civ...