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Search Results for "SARFAESI Act"

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High Court

Madras High Court Quashes Tax Demand Against Auction Purchaser in TNVAT Recovery Case — Priority of Crown Debt Over Mortgagee's Right. The court held that a bona fide auction purchaser who buys property through a mortgagee's sale under Section 69 of the Transfer of Property Act, 1882 takes the property free of all encumbrances, including subsequent tax demands under Section 24 of the Tamil Nadu Value Added Tax Act, 2006.

21 Jan 2025

The petitioner, D.K. Sadasivam, was the successful purchaser of a property (S.Nos. 7/10, 7/11 and 13/1 in Sigarahalli Village, Pennagaram Taluk, Dharm...

High Court

High Court of Karnataka Allows Canara Bank's Appeal Against Refund Order in SARFAESI Auction Dispute — Bank Not Obliged to Refund 25% Deposit When Auction Purchaser Defaults on Balance Payment.

16 Oct 2024

The appellant, Canara Bank, conducted an e-auction on 29 November 2021 of a property under the Securitisation and Reconstruction of Financial Assets a...

High Court

Bombay High Court Allows Bank's Writ Petition Challenging Dismissal of Appeal for Default in Payment of Court Fees - Restoration of Appeal Ordered. The court held that dismissal for default in payment of deficit court fees was perverse and directed restoration of the appeal on merits, emphasizing a liberal approach to ensure justice.

7 Dec 2022

The petitioner, ICICI Bank Limited, filed a Writ Petition under Articles 226 and 227 of the Constitution of India challenging an order dated December ...

High Court

High Court of Karnataka Quashes Magistrate's Order for Appointment of Receiver in DRT Proceedings — Lack of Jurisdiction and Non-Compliance with Section 14 of SARFAESI Act. The court held that the Magistrate cannot appoint a receiver for property not in possession of the borrower and that the remedy under SARFAESI Act is exclusive.

28 Jan 2019

The petitioner, Sri Rameshchandra, claimed to be the owner of a property that was leased out to the second respondent, Sri P. Ravikumar. The first res...

High Court

Bombay High Court Dismisses Writ Petitions Challenging SARFAESI Auction Sale Against Personal Guarantors. Alternative Remedy Under Section 17 of SARFAESI Act, 2002 Not Exhausted; Auction Sale Confirmed and Sale Certificate Issued.

25 Jan 2017

The petitioners, M/s Utkarsh Cement Sales Pvt. Ltd. and its directors/guarantors, filed two writ petitions before the Bombay High Court (Aurangabad Be...

High Court

Bombay High Court Dismisses Writ Petition Challenging DRT Order in SARFAESI Act Case — Petitioner Failed to Show Any Error in DRT's Refusal to Set Aside Auction Sale. Court Held That DRT's Order Was Not Without Jurisdiction and That the Petitioner Had an Alternative Remedy of Appeal Under Section 18 of SARFAESI Act.

19 Aug 2016

The petitioner, Asset Reconstruction Company (India) Limited, acting as trustee of Arcil-SBPS-024-I Trust, filed a writ petition under Article 226 of ...

High Court

High Court Dismisses Writ Appeal Against Bank's Possession Notice Under SARFAESI Act for Lack of Jurisdiction Due to Alternate Remedy. Appellant's challenge to possession notice dismissed as writ petition not maintainable when alternate remedy under Section 17 of SARFAESI Act before Debt Recovery Tribunal is available.

17 Jun 2015

The appellant, Sri Jayaram Hegde, filed a writ petition before the Karnataka High Court challenging a possession notice issued by Canara Bank under th...

High Court

Bombay High Court Allows Secured Creditor's Writ Petition Against District Magistrate's Refusal to Assist Under Section 14 SARFAESI Act. District Magistrate Cannot Refuse Assistance on Grounds of Disputed Title or Pending Civil Suit.

19 Mar 2010

The petitioner, SICOM Ltd., a financial corporation, had loaned Rs. 4 crores to M/s Sonaa Oil & Chemical Industries Ltd. Respondent No. 2 was a guaran...

High Court

Bombay High Court Dismisses Writ Petition Challenging Auction Sale Under SARFAESI Act — Alternative Remedy Under Section 17 SARFAESI Act Available. Possession Notice Defect Does Not Vitiate Auction Sale After Confirmation; Auction Purchaser's Title Upheld.

30 Nov -0001

The petitioners, Janakalyan Sahakari Bank Limited and Mohanish Rajak, filed a writ petition under Article 226 of the Constitution of India challenging...

High Court

Bombay High Court Dismisses Writ Petition Challenging Bank's Possession Under SARFAESI Act — Alternative Remedy Before DRT Must Be Exhausted. Writ Petition Not Maintainable as SARFAESI Act Provides Complete Mechanism for Aggrieved Persons Under Section 17.

30 Nov -0001

The petitioners, Dr. Anil Nandkishor Tibrewala and his wife, owned a flat in Mumbai. They had mortgaged the flat to Jammu and Kashmir Bank Ltd. (respo...

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