Search Results for "non-performing asset"

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Search Results for "non-performing asset"

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Supreme Court

Supreme Court Allows Appeal in Pay Revision Discrimination Case Against Maharashtra State Financial Corporation - Fixation of Cut-off Date for Fifth Pay Commission Benefits to Retired Employees Held Arbitrary Under Article 14 of the Constitution. The court ruled that denying benefits to employees who retired between 01.01.2006 and 29.03.2010, while granting retrospective benefits from 01.01.2006 to those in service on 29.03.2010, constitutes hostile discrimination as all formed a homogenous class during the revision period.

2 Feb 2023

The Supreme Court heard an appeal concerning the fixation of a cut-off date for implementing Fifth Pay Commission recommendations for employees of the...

Supreme Court

Supreme Court Dismisses Tenant's Appeal in SARFAESI Act Case, Upholding High Court Order Setting Aside District Magistrate's Decision. District Magistrate's Role Under Section 14 is Limited to Assisting Secured Creditor in Taking Possession, Not Adjudicating Tenancy Disputes, and Tenant's Remedy Lies Under Section 17 Before Debt Recovery Tribunal.

26 Sep 2022

The dispute arose from proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SAR...

Supreme Court

Supreme Court Sets Aside High Court Order for Release of Secured Asset on Partial Payment Under SARFAESI Act. The court held that Section 13(8) of the SARFAESI Act, 2002 requires full payment of dues for redemption, and partial payment does not entitle the borrower to reclaim the property.

10 Feb 2022

The dispute arose between a bank, as secured creditor, and a borrower over the enforcement of security interest under the Securitisation and Reconstru...

Supreme Court

Supreme Court Interprets Section 29A(h) of Insolvency and Bankruptcy Code, 2016 Regarding Guarantor Eligibility. The court held that a person who has executed an enforceable guarantee is not disqualified from submitting a resolution plan unless the guarantee has been invoked, as liability crystallizes upon invocation under the amended provisions.

18 Jan 2022

The Supreme Court was called upon to interpret Section 29A(h) of the Insolvency and Bankruptcy Code, 2016, as amended, concerning the eligibility of a...

Supreme Court

Supreme Court Quashes High Court's Interim Order in SARFAESI Act Case as Writ Petition Against Private Asset Reconstruction Company Not Maintainable. The Court held that writ jurisdiction under Article 226 of the Constitution of India does not lie against a private ARC, and the proper remedy is an appeal under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002.

12 Jan 2022

The dispute arose from writ petitions filed by borrowers, Vishwa Bharati Vidya Mandir and St. Ann's Education Society, against Phoenix ARC Private Lim...

Supreme Court

Supreme Court Allows Bank's Appeal Against High Court's Mandamus to Consider OTS Application. Court Holds That No Writ of Mandamus Can Be Issued to Direct a Bank to Grant One Time Settlement Benefit Under Article 226 of the Constitution.

15 Dec 2021

The present appeal arises from a judgment of the Allahabad High Court which, in exercise of powers under Article 226 of the Constitution of India, iss...

Supreme Court

Supreme Court Reverses High Court Judgment in SARFAESI Act Case Due to Non-Compliance and Limitation. Bank's Auction Sale Upheld as Borrower's Challenge Was Time-Barred and Requests Did Not Trigger Statutory Obligations Under Section 13(3A) of SARFAESI Act, 2002.

3 Dec 2021

The dispute arose from proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SAR...

Supreme Court

Supreme Court Dismisses Appeal by Suspended Directors in Insolvency Case on Maintainability and Limitation Grounds. Application under Section 7 of Insolvency and Bankruptcy Code, 2016 Filed by Power of Attorney Holder is Maintainable and Not Barred by Limitation Due to Acknowledgments Extending Period Under Section 18 of Limitation Act, 1963.

30 Sep 2021

The dispute arose from an application filed by Union Bank of India (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016 ag...

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 Dismisses Tenant's Appeal in SARFAESI Act Case Due to Unregistered Tenancy and Lack of Evidence. Tenant's Claim of Prior Tenancy Fails as It Exceeded One Year Without Registered Instrument Under Section 107 of Transfer of Property Act, 1882, and Tenant-in-Sufferance Not Protected Under SARFAESI Act.

17 Aug 2021

The dispute arose from a criminal appeal before the Supreme Court challenging orders of the Chief Metropolitan Magistrate, Mumbai, which rejected the ...

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