Search Results for "Security interest"

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Search Results for "Security interest"

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High Court

Bombay High Court Quashes Sales Tax Attachment Over Bank's Secured Assets Under SARFAESI Act — Priority of Secured Creditor Upheld. Section 26E of SARFAESI Act gives priority to secured creditors over crown debts, and attachment by sales tax authorities cannot defeat the bank's security interest.

22 Jan 2024

The petitioner, Union Bank of India, filed a writ petition under Article 226 of the Constitution of India seeking to quash an attachment order dated 2...

Supreme Court

Supreme Court Allows State Appeal in Mining Contract Interest Dispute — Security Deposit Does Not Carry Interest Despite Delayed Refund When Contract Expressly Bars Interest. Clause 19 of Form-L Contract Under Punjab Minor Minerals Concession Rules, 1964 Precludes Interest on Security Deposit, and Section 34 CPC Does Not Apply to Contractual Deposits.

13 Jul 2026

The case involves appeals by the Appellants and its officers against a judgment of the Punjab and Haryana High Court which directed payment of interes...

High Court

Bombay High Court Examines Whether Assignee Bank Can Invoke SARFAESI Act for Debt Assigned by NBFC. The case involves interpretation of 'debt' and 'secured creditor' under SARFAESI Act, 2002 and RDDBFI Act, 1993, and the effect of assignment from a non-banking financial company to a bank.

16 Jul 2015

The petitioner, a banking company, sought to enforce security interest under the SARFAESI Act after acquiring a debt and underlying security from a no...

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 Against Madras High Court Decision on Validity of Security Bond and Priority in Rateable Distribution. Charge Created by Security Bond Held Valid Despite Lack of Attestation; Decree Holder Entitled to Priority Under Section 73(1) Proviso (c) Code of Civil Procedure.

4 Feb 1969

The appellant (M. L. Abdul Jabhar Sahib) instituted C.S. No. 56 of 1953 on the Original Side of the Madras High Court against Hajee Ahmed Batcha for r...

High Court

Bombay High Court Allows Secured Creditor's Priority Over Sales Tax Dues in MVAT Act Attachment Dispute. State Bank of India's mortgage charge on borrower's property held superior to VAT recovery under Section 32 of MVAT Act, 2002, following Central Bank of India v. State of Kerala ratio.

17 Dec 2020

The State Bank of India (SBI), a secured creditor, filed a writ petition under Article 226 of the Constitution challenging the attachment of a propert...

High Court

Bombay High Court Allows Bank's Petition Against GST Attachment of Secured Assets Under SARFAESI Act. Priority of Secured Creditor Over Crown Debts Upheld Under Section 26E of SARFAESI Act and Section 31B of RDDB Act.

21 Mar 2024

The petitioner, Indian Overseas Bank, a secured creditor, had extended credit facilities to Respondent No. 3, Savair Energy Limited. Upon default, the...

High Court

Bombay High Court Allows Petition Seeking Release of Mortgage Documents After Full Loan Repayment, Rejects Bank's Claim of General Lien. The court held that a bank cannot retain title deeds deposited as security for a specific loan after full repayment on the ground of other debts, as the general lien under Section 171 of the Indian Contract Act, 1872 does not extend to such documents.

25 Aug 2022

The petitioner, M/s F.A. Construction, a partnership firm, had availed a loan of Rs. 98,00,000 from Andhra Bank (now Union Bank of India) under the St...

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Regarding Security Interest and Pledge of Shares — NCLAT Order Set Aside. The Court held that the Corporate Debtor's creation of security by way of pledge of shares of its subsidiary in favour of the appellants constituted a valid security interest under the Insolvency and Bankruptcy Code, 2016, and the moratorium under Section 14 does not bar the enforcement of such security by a secured creditor.

24 Aug 2020

The present appeal arises from an order of the National Company Law Appellate Tribunal (NCLAT) dated 24.08.2020, which dismissed the appeal filed by t...

High Court

High Court Allows Writ Petitions Filed by Secured Creditor and Auction Purchasers, Quashing Attachment Orders of State Tax Authorities. Priority of Secured Creditor Under Section 26E of SARFAESI Act Held to Override ‘First Charge’ and Non-Obstante Clauses in the Maharashtra Goods and Services Tax Act, 2017.

13 Jul 2026

The High Court of Judicature at Bombay allowed a batch of six writ petitions filed by a secured creditor and auction purchasers, quashing various atta...

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