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...
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 "asset reconstruction"

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High Court

Bombay High Court Allows Withdrawal of Appeal and Release of Deposited Amount in Insolvency Case — Moratorium Under Section 14 IBC Bars Enforcement Against Corporate Debtor's Assets. The cash deposit made by the corporate debtor in court is an asset belonging to the corporate debtor, and the resolution professional is entitled to its release for the resolution process.

13 Nov 2024

The Bombay High Court allowed an application filed by the Resolution Professional of Siti Networks Ltd. (corporate debtor) seeking withdrawal of Appea...

High Court

High Court of Karnataka Dismisses Appeal by Asset Reconstruction Company Against Borrowers in SARFAESI Act Matter — Upholds Single Judge's Order Quashing Possession Notice Due to Non-Compliance with Section 13(2) and (3A). The Court Held That the Secured Creditor Must Strictly Adhere to the Statutory Procedure Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Before Taking Possession.

5 Jun 2024

The appellant, M/s. International Asset Reconstruction Company Limited, a secured creditor, issued a possession notice under the Securitisation and Re...

High Court

Bombay High Court Directs Removal of Central Excise Lien on Property Sold Under SARFAESI Act, Orders Registration of Sale Certificate. The Court held that the sale under the SARFAESI Act extinguishes all prior encumbrances, including statutory liens of the Excise Department, and the Sub-Registrar cannot refuse registration of the sale certificate on the ground of such prior encumbrance.

28 Jun 2023

The Petitioner, Ronak Industries, a partnership firm, purchased an immovable property (Survey No.366/5 and 366/6, admeasuring 2400 sq.mtrs, along with...

Supreme Court

Supreme Court Allows Bank's Appeal in SARFAESI Act Auction Forfeiture Case — Earnest Money Deposit Forfeiture Upheld as Compensation for Breach of Contract. The Court held that forfeiture of earnest money deposit by a secured creditor under the SARFAESI Act is not subject to proof of actual loss and is governed by the terms of the auction contract, not Sections 73 and 74 of the Indian Contract Act, 1872.

10 Aug 2022

The case involves two appeals by a nationalized bank (appellant) against a common judgment of the Madras High Court, which had allowed the writ petiti...

High Court

Bombay High Court Allows Writ Petition by Banks Against Additional District Magistrate's Order Disposing Section 14 SARFAESI Application Without Taking Possession. The Court Held That the Magistrate's Role Under Section 14 Is Ministerial and Cannot Adjudicate on the Validity of the Underlying Debt or Security Interest.

19 Jul 2022

The petitioners, authorized officers of four financial institutions (IDBI Bank, Axis Bank, Bank of Baroda, and CFM Asset Reconstruction Pvt. Ltd.), ha...

Supreme Court

Supreme Court Allows Secured Creditors' Appeals in SARFAESI Act Case on Appointment of Advocate as Commissioner. The Court held that a District Magistrate or Chief Metropolitan Magistrate can appoint an advocate to take possession of secured assets under Section 14(1A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, as an advocate is considered an officer of the court subordinate to the Magistrate.

25 Feb 2022

The dispute centered on the interpretation of Section 14(1A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security ...

Supreme Court

Supreme Court Dismisses Guarantors' Appeals in SARFAESI Act Enforcement Case, Upholding Sale of Mortgaged Properties. The Court held that multiple litigations by guarantors constitute abuse of process and cannot defeat the expeditious recovery mechanism under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

23 Sep 2021

The Supreme Court of India dealt with civil appeals arising from special leave petitions challenging a common judgment of the Madras High Court. The d...

Supreme Court

Supreme Court Allows Appeals of Secured Creditors in SARFAESI Act Case — Holds Chief Judicial Magistrate Competent Under Section 14. The Court resolved the conflict among High Courts by interpreting that the CJM can exercise powers under Section 14 of the SARFAESI Act, 2002, for taking possession of secured assets in non-metropolitan areas.

23 Sep 2019

The Supreme Court resolved a conflict among High Courts regarding the interpretation of Section 14 of the Securitisation and Reconstruction of Financi...

Supreme Court

Supreme Court Dismisses Tenant's Appeal in SARFAESI Act Case — Oral Tenancy After Mortgage Not Protected. Tenant's claim of tenancy based on oral agreement after mortgage creation cannot defeat bank's right to take possession under Section 14 of SARFAESI Act.

11 Sep 2019

The present appeal arises from an order of the Chief Metropolitan Magistrate, Esplanade, Mumbai, dated 31.12.2014, rejecting the application of the ap...

High Court

Bombay High Court Upholds DRAT Order Requiring 25% Pre-deposit for Waiver of Appeal Under SARFAESI Act. Legal Heirs of Guarantor Must Deposit 25% of Section 13(2) Notice Amount as Condition for Hearing Appeal on Merits.

14 Nov 2017

The petitioners, Smt. Julie Amitabh Parekh and others, who are the legal heirs of the deceased guarantor Amitabh Arun Parekh, filed a writ petition ch...

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