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High Court of Karnataka Directs Banks to Comply with RBI Prudential Framework for Stressed Assets Resolution in Writ Petition by Borrower Company. The court held that the RBI circular dated June 7, 2019, is binding on banks and that the borrower has a right to seek a review meeting under the framework.

The petitioner, Ganjam Nagappa and Son Private Limited, a company incorporated under the Companies Act, 1956, filed a writ petition under Articles 226...

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Supreme Court Dismisses Bank's Appeal in SARFAESI Auction Dispute — Auction Purchaser Not in Default. Delay in Payment Attributable to Bank's Own Actions and External Factors, Not Purchaser's Fault Under Rule 9(4) of Security Interest (Enforcement) Rules, 2002.

The appellant, IDBI Bank, conducted an e-auction on 10.04.2018 for a property comprising 2 guntas of land in Telangana. The respondents were the highe...

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High Court Directs Bank to Consider OTS Offer Under Maha Rahat Yojana and Maha Samadhan Yojana. Petitioner, owner of mortgaged property, sought direction to Bank to consider his OTS offer; Court held Bank must consider representation and communicate decision within two weeks.

The petitioner, Mr. Balkishan Boob, is the owner of a property mortgaged to the Bank of Maharashtra. The property was borrowed by M/s. Bhagwan Cotton ...

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Bombay High Court Adjudicates Section 34 Petition Against Arbitral Award in ATM Cash Replenishment Dispute. The petition challenges the award of Rs. 23.26 crores to the respondent for cash loading discrepancies under the 2010 and 2015 agreements.

The judgment originates from a petition under Section 34 of the Arbitration and Conciliation Act, 1996 filed by Securitrans India Private Limited, see...

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Bombay High Court Allows Writ Petition Challenging SARFAESI Act Possession Notice — Bank Directed to Consider One-Time Settlement Offer. Failure to Consider OTS Proposal Before Taking Possession Violates Principles of Fairness and Natural Justice Under Section 13(2) of SARFAESI Act, 2002.

The petitioner, Surendra Nikose, had availed a housing loan from the State Bank of India (respondent). Due to financial difficulties, he defaulted on ...