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Bombay High Court Dismisses Assignee's Challenge to Auction Sale for Non-Compliance with Regulation 37(1) of DRT Regulations, 2015 — Failure to Raise Objection at Appropriate Stage and Lack of Prejudice Renders Challenge Belated and Unsubstantiated.

The petitioner, Invest Assets Securitisations & Reconstruction Private Limited, an assignee holding a pari passu charge with the first respondent Bank...

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Bombay High Court Upholds DRAT Order Allowing One Time Settlement in Debt Recovery Case — Interest Must Be Calculated as Per OTS Terms. The court held that the DRT erred in not giving effect to the OTS and in calculating interest beyond the OTS terms, and the DRAT correctly set aside the DRT order.

The petitioners, Small Industries Development Bank of India (SIDBI) and India SME Asset Reconstruction Company Ltd., challenged an order dated 26th Ma...

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High Court Validates DRAT Order for Pre-Deposit Calculation in Secured Asset Auction Dispute. Pre-deposit determination upheld as per SARFAESI Act, focusing on "debt due" over auction value.

The Bombay High Court upheld the DRAT's order mandating a pre-deposit based on "debt due" when the measures under Section 13(4) of the SARFAESI Act we...

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WRIT PETITION NO. 5204 OF 2019

The present writ petition was filed by six petitioners, including two public limited companies and four individuals, challenging an order dated 30.05....

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Bombay High Court Dismisses Petition Challenging DRAT Order Rejecting Condonation of 856-Day Delay in Filing Appeal Against Decree on Admission. Petitioner's Withdrawal of Timely Appeal and Subsequent Delay Not Justified as Sufficient Cause Under Section 5 of Limitation Act, 1963.

The Petitioner, MSTC Limited, a Government of India Enterprise, filed a Writ Petition challenging the order dated 9 November 2022 passed by the Debt R...

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Bombay High Court Dismisses Petition Challenging DRAT Order in SARFAESI Act Matter with Heavy Costs. Petitioners' attempt to redeem mortgaged property for a fraction of the outstanding debt held to be an abuse of process.

The petitioners, Mr. Dipak Digambar Naik and others, filed a writ petition in the Bombay High Court challenging an order dated 12th March 2015 passed ...

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Bombay High Court Dismisses Writ Petition Challenging DRAT Order Requiring Pre-Deposit Under Section 21 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 — Waiver of Deposit Not Justified as Petitioner Failed to Establish Irreparable Hardship.

The petitioner, Continental Construction Limited, was a defendant in a recovery suit filed by the Export Import Bank of India (Exim Bank) in the Debt ...

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Bombay High Court Dismisses Writ Petitions Challenging DRAT Order Confirming Sale of Company Property in Favour of Auction Purchaser. Workers' Dues and Alleged Irregularities Do Not Justify Annulment of Concluded Auction Sale Under Recovery of Debts Due to Banks and Financial Institutions Act, 1993.

The judgment concerns three writ petitions filed under Article 226 of the Constitution challenging an order of the Debts Recovery Appellate Tribunal (...

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Bombay High Court Dismisses Writ Petition Against DRAT Order Rejecting One Time Settlement in Debt Recovery Case. RBI Circular of 2003 Held Not Applicable to Accounts That Became NPA Before 31st March 2000.

The petitioners, Kanwar Vilas Raj Nath and another, filed a writ petition challenging an order of the Debts Recovery Appellate Tribunal (DRAT) dated 4...