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Bombay High Court Examines Whether Assignee Bank Can Invoke SARFAESI Act for Debt Assigned by NBFC. The case involves interpretation of 'debt' and 'secured creditor' under SARFAESI Act, 2002 and RDDBFI Act, 1993, and the effect of assignment from a non-banking financial company to a bank.

The petitioner, a banking company, sought to enforce security interest under the SARFAESI Act after acquiring a debt and underlying security from a no...

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Supreme Court Allows Appeal in Gift Deed Condition Case — Sale Deeds Void Due to Restraint on Alienation. Condition in Gift Deed That Donee Cannot Alienate Property Is Valid and Binding, Making Subsequent Sales Void.

The appeal arose from a suit filed by the plaintiffs, sons of defendant No.1, seeking declaration of ownership and to set aside sale deeds executed by...

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Bombay High Court Partially Allows Borrower's Waiver Challenge and ARCL's Interest Inclusion Petitions in SARFAESI Appeal Pre-Deposit Dispute. The Court reduced pre-deposit from 50% to 25% of debt due including interest, balancing the borrower's right to appeal and the secured creditor's interests.

The case involves cross-petitions arising from a common DRAT order dated 04 June 2024. The borrower, M/s Royal Traders, challenged the DRAT's refusal ...

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High Court of Karnataka Allows Appeal Against Injunction Restraining Bank from Enforcing Corporate Guarantee. The court set aside the injunction as the guarantee deed was unconditional and the bank had a prima facie case under Order 39 Rules 1 and 2 of CPC, enabling it to proceed under SARFAESI Act and IBC.

The appeal arose from an order dated 25.07.2024 passed by the LXXXV Additional City Civil and Sessions Judge, Bengaluru (Commercial Court) in I.A. No....

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Bombay High Court Allows Revision Against Rejection of Leave to Defend in Summary Suit. Bank Granted Conditional Leave to Defend on Deposit of Rs. 25 Lakhs for Triable Issues Regarding Liability as Mortgagee in Possession Under Order 37 CPC.

The case involves a Civil Revision Application filed by ICICI Bank Limited (the applicant/original defendant No.1) against the order dated 30th June 2...

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High Court of Karnataka Considers Cross-Appeals in Suit for Specific Performance and Injunction — Interim Relief Sought Under CPC and Commercial Courts Act. The suit concerned enforcement of a Negative Lien Letter and personal guarantees, with the plaintiff bank seeking to restrain alienation of assets.

The case involves cross-appeals arising from a commercial suit filed by Bank of Baroda against Dr. Bavaguthu Raghuram Shetty and Dr. Chandrakumari Rag...