Search Results for "Debts Recovery Tribunal"

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Search Results for "Debts Recovery Tribunal"

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High Court

Bombay High Court Dismisses Writ Petition Challenging Predeposit Condition for Appeal Against Interlocutory Order Under SARFAESI Act. Section 18(1) of SARFAESI Act, 2002 Requires Deposit of 50% of Debt for Any Appeal Under Section 17, Including Interlocutory Orders, and Appellate Tribunal May Reduce to 25%.

16 Nov 2010

The petitioners, M/s Vinay Container Services Pvt. Ltd. and its guarantors, challenged an order of the Debts Recovery Appellate Tribunal (DRAT) which ...

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Due to Limitation Bar — Winding Up Petition Filed Beyond Three Years from Default Date Cannot Be Revived Under IBC. The Court held that a time-barred winding up petition under the Companies Act, 1956 cannot be treated as a valid Section 7 application under the IBC, and the filing of a suit for specific performance does not extend limitation for a winding up petition.

25 Sep 2019

The Supreme Court considered appeals arising from the admission of a winding up petition under the Insolvency and Bankruptcy Code, 2016 (IBC). The pet...

High Court

Bombay High Court Allows Writ Petitions Against SARFAESI Proceedings Due to Non-Compliance with Section 18(1) Second Proviso — Debt Recovery Tribunal Failed to Consider Borrower's Application Before Issuing Recovery Certificate. The court held that the DRT must decide an application for waiver or reduction of the pre-deposit under Section 18(1) second proviso of the SARFAESI Act before entertaining the appeal or issuing a recovery certificate.

8 Oct 2013

The judgment involves two writ petitions filed under Article 226 of the Constitution of India challenging the actions of secured creditors under the S...

High Court

Bombay High Court Dismisses Writ Petitions Against DRT Orders Due to Availability of Alternative Remedy Under Section 20 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993. Petitioner's challenge to DRT's decision to hear main case after dismissing interlocutory applications fails as review remedy was exhausted and appeal remedy remains available.

12 Dec 2005

The petitioner, Gangaram Biseshwar Agrawal, was defendant No. 2 in three recovery suits filed by Canara Bank, Union Bank of India, and State Bank of I...

High Court

Bombay High Court Quashes Civil Imprisonment Order Against Guarantor in DRT Recovery Proceedings — Failure to Comply with Section 30 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993. Court holds that Recovery Officer cannot order arrest without issuing a show-cause notice and giving an opportunity of hearing as mandated by the Act.

11 Apr 2017

The petitioners, including Panther Fincap & Management Services Limited and three individuals, were aggrieved by an order dated 31 May 2007 passed by ...

High Court

Bombay High Court Dismisses Writ Petitions Challenging SARFAESI Proceedings Against Guarantors and Borrowers. Court Holds That Section 17(1) of SARFAESI Act Provides an Alternative Remedy to Challenge Possession Notices and That Writ Jurisdiction Under Article 226 Should Not Be Entertained When Statutory Remedy Is Available.

5 Jul 2016

The judgment pertains to two writ petitions filed before the Bombay High Court challenging an order dated 11th September 2015 passed by the Chief Metr...

High Court

Bombay High Court Dismisses Application to Set Aside Insolvency Notice in Debt Recovery Matter — Debt Recovery Tribunal's Decree Constitutes a Final Judgment Under Section 9(2) of Presidency-Towns Insolvency Act, 1909.

3 Apr 2006

The judgment debtor, Deepak Cochhar and another, filed a notice of motion seeking to set aside Insolvency Notice No. N/72 of 2004 issued by the Insolv...

High Court

High Court Dismisses Bank's Revision in SARFAESI Act Suit — Civil Court Jurisdiction Not Barred. Suit for Declaration and Injunction Regarding Personal Guarantee Held Maintainable as It Does Not Relate to Enforcement of Security Interest Under Section 34 of SARFAESI Act.

20 Jul 2017

The case involves a civil revision application filed by Allahabad Bank against an order of the Joint Civil Judge, Junior Division, Nagpur, rejecting t...

High Court

Bombay High Court Allows Bank's Petition for Commission on Guarantees Issued to Court — Canara Bank Entitled to 3% Commission on Guarantees in Favour of Prothonotary and Senior Master. The court held that a bank issuing guarantees at the request of a customer is entitled to commission as per its standard terms, and the Debt Recovery Appellate Tribunal erred in denying such commission.

6 May 2014

The petitioner, Canara Bank, a body corporate constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, filed a wr...

Supreme Court

Supreme Court Allows Bank's Appeal for Return of Original Documents in SARFAESI Auction Dispute. The Court held that the bank is entitled to return of original title deeds deposited in a pending DRT proceeding to hand over to the auction purchaser, as the sale under SARFAESI Act is independent and the validity of mortgage can be adjudicated using photocopies.

1 Jan 2020

The Supreme Court allowed the appeal filed by the State Bank of India against the High Court order that had refused to return original documents depos...

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