Search Results for "secured creditor"

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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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High Court

Bombay High Court Partially Allows Borrower's Waiver Challenge and ARCL's Interest Inclusion Petitions in SARFAESI Appeal Pre-Deposit Dispute. The Court reduced pre-deposit from 50% to 25% of debt due including interest, balancing the borrower's right to appeal and the secured creditor's interests.

19 Dec 2024

The case involves cross-petitions arising from a common DRAT order dated 04 June 2024. The borrower, M/s Royal Traders, challenged the DRAT's refusal ...

High Court

High Court of Karnataka Dismisses Writ Petition Challenging DRT Order Refusing to Include Third-Party Properties in Recovery Certificate Under Section 19 of RDB Act. The court held that the DRT has no jurisdiction to include properties of persons who are not parties to the original application or guarantors, and the remedy lies before the civil court.

12 Dec 2024

The petitioners, M/s. SSA Constructions (a partnership firm) and its managing partner, obtained loan facilities from Andhra Bank (Respondent No. 1). T...

Tribunals

NCLAT Allows Section 95 Application Against Personal Guarantors in IBC Case — Limitation Period for Filing Application Under Section 95 Commences from Date of Default in Demand Notice Under Guarantee Contract, Not from Date of NCLT Order Admitting Corporate Debtor. The court held that the limitation for filing an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 against a personal guarantor runs from the date of default in the demand notice under the guarantee contract, and not from the date of the NCLT order admitting the corporate debtor.

22 Oct 2024

The National Company Law Appellate Tribunal (NCLAT) at Chennai, by a common judgment dated 22.10.2024, allowed two appeals filed by the State Bank of ...

High Court

High Court of Karnataka Considers Whether Registrar NCLT Can Scrutinize Maintainability of Section 95 IBC Petition at Filing Stage. Appeal Challenges Single Judge's Order Holding E-Filing of Insolvency Petition Against Partnership Firm Void and Non-Est.

16 Oct 2024

The appeal arose from a writ petition filed by M/s Manyata Reallty, a partnership firm, challenging the e-filing of a petition under Section 95 of the...

Supreme Court

Supreme Court Allows Set-Off Claim in Corporate Insolvency Resolution Process Under Insolvency and Bankruptcy Code, 2016. The court held that set-off is permissible during CIRP as it promotes efficiency and equity, and the moratorium under Section 14 does not automatically prohibit such adjustments when claims arise from mutual and connected transactions.

3 Jan 2024

The appeal before the Supreme Court involved a dispute between Bharti Airtel Limited and Bharti Hexacom Limited (Airtel entities) and Aircel Limited a...

High Court

High Court of Karnataka Directs Refund of Forfeited Auction Amount in SARFAESI Sale Due to Bank's Failure to Issue Sale Certificate. Bank's Failure to Perform Reciprocal Promise Discharges Bidder from Obligation to Pay Balance.

19 Dec 2023

The petitioner, Sri Kalyanamurthy K., participated in an e-auction conducted by the State Bank of India (respondent) for the sale of an immovable prop...

Supreme Court

Supreme Court Dismisses Appeal in Dishonour of Cheque Case Under Negotiable Instruments Act, 1881 Despite Insolvency Proceedings. Criminal Liability Under Section 138 Negotiable Instruments Act, 1881 Continues Simultaneously with Insolvency Resolution Under Insolvency and Bankruptcy Code, 2016 as Proceedings are Penal and Not Covered by Moratorium Under Section 14.

15 Mar 2023

The dispute arose from a dishonoured cheque issued by M/s Rainbow Papers Limited, a company, to Tourism Finance Corporation of India Limited, a public...

High Court

Bombay High Court Hears Section 37 Petitions Challenging Arbitral Tribunal's Interim Restraint Order. The arbitral tribunal had restrained the appellants from alienating assets under Section 17 of the Arbitration and Conciliation Act, 1996, pending arbitration over terminated Master Service Agreements, despite arguments that the transfer was involuntary and assets were encumbered to secured creditors.

8 Mar 2018

The High Court of Judicature at Bombay heard three commercial arbitration petitions filed under Section 37 of the Arbitration and Conciliation Act, 19...

High Court

High Court of Karnataka Dismisses Shareholder's Application for Official Liquidator Supervision of SARFAESI Sale — Secured Creditor's Right to Sell Under SARFAESI Act Prevails Over Company Court's Supervisory Jurisdiction. The court held that a promoter-shareholder of a company in liquidation cannot seek supervision of the sale of secured assets by a secured creditor under the SARFAESI Act, 2002, as the secured creditor has an independent right to sell without interference from the Company Court.

11 Nov 2016

The applicant, Rashmi Thakeria, a promoter-shareholder of Natural Textiles Private Limited (in liquidation), filed C.A.No.969/2015 seeking a direction...

High Court

Bombay High Court Dismisses Winding-Up Petition Against Guarantor Company Due to Bona Fide Dispute and Pendency of DRT Proceedings. Court Finds That Existence of Disputes Regarding Validity of Guarantee and Pending Recovery Proceedings Before DRT Render the Petition Not Maintainable Under Companies Act, 1956.

23 Jun 2016

The petitioner, SICOM Ltd., a financial institution, filed a winding-up petition against the respondent, Entertainment World Developers Pvt. Ltd., und...

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