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Search Results for "Guarantors"

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High Court

Bombay High Court Allows Writ Petitions Challenging DRT Orders Under SARFAESI Act, Holding That Section 14 Orders Are Administrative and Not Subject to Appeal Under Section 18. The court clarified that the remedy against a Section 14 order lies only by way of writ petition under Article 226/227, and the DRT has no power to review or recall its own Section 14 order.

12 Dec 2025

The Bombay High Court dealt with a batch of writ petitions and interim applications challenging orders passed by the Debt Recovery Tribunal (DRT) unde...

High Court

Bombay High Court Allows Cooperative Bank's Petition Against Setting Aside of Ex Parte Award Against Principal Borrower. Principal Borrower Cannot Participate in Proceedings Without Depositing Loan Amount.

2 May 2019

The case involves two writ petitions filed by Rupee Cooperative Bank Limited against Vijaya Paints Pvt. Ltd. and others. The bank had obtained an ex p...

High Court

Bombay High Court Dismisses Bank's Petition in Guarantee Dispute Due to Lack of Privity of Contract. Guarantee Agreement Held Unenforceable as Principal Debtor Was Not a Party to the Contract Under Indian Contract Act, 1872.

31 Aug 2018

The petitioner, Dena Bank, filed a writ petition challenging the order of the Debts Recovery Appellate Tribunal (DRAT) dated 27.10.2015, which dismiss...

High Court

Bombay High Court Reserved Judgment on Challenge to Section 84 of Multi-State Co-operative Societies Act, 2002 and Arbitrator's Appointment. Petitioner Challenged Appointment of Single Arbitrator for All Bank Disputes as Violative of Article 14 of the Constitution and Sought Setting Aside of Arbitral Award.

13 Oct 2017

M/s J. Square Steels Pvt. Ltd. (principal borrower) availed credit facilities from Abhyudaya Co-operative Bank Ltd. in 2005 and defaulted, leading to ...

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 Guarantors' Waiver of Pre-deposit in Debt Recovery Appeal — Section 21 of RDB Act Does Not Mandate Pre-deposit for Guarantors When Principal Debtor Has Already Deposited Substantial Amount. The court held that the DRAT's discretion under Section 21 must be exercised judiciously, and since the principal debtor deposited Rs. 1.5 crores, the guarantors' appeal should not require additional pre-deposit.

29 Jun 2017

The judgment concerns two writ petitions filed by guarantors (Mr. Jaisingrao Ghodke and Smt. Nalini Jadhav) challenging an order dated 4/5/2017 passed...

High Court

Bombay High Court Dismisses MSFC's Petition Challenging DRAT Order Granting Cross-Examination in Loan Recovery Case. Right to Cross-Examine Affidavit Deponent Is a Valuable Right Not Barred by Rule 12(6) of DRT Procedure Rules.

2 Apr 2016

The petitioner, Maharashtra State Financial Corporation (MSFC), filed a writ petition under Articles 226 and 227 of the Constitution of India challeng...

High Court

Bombay High Court Allows Appeal in Part, Restores Suit Against Guarantors and Awards Contractual Interest in Bank Recovery Suit. Guarantor liability is co-extensive with principal debtor; contractual interest must be awarded as agreed until date of suit and thereafter at court's discretion but not less than contractual rate under Order 34 Rule 11 and Section 34 CPC.

14 Jul 2010

The appellant, Bank of Baroda, filed a suit for recovery of Rs. 7,85,655.50 against defendants, including the principal borrower firm (defendants 1-3)...

High Court

Bombay High Court Allows SFC Petition Against Guarantors Under Section 31(1)(aa) of SFC Act, 1951 — Guarantors Liable Despite Company's Winding Up. Guarantee is a separate contract and liability of guarantor is co-extensive with principal debtor under Section 128 of Indian Contract Act, 1872.

7 Jun 2005

The petitioner, SICOM Limited, a State Financial Corporation, filed a petition under Section 31(1)(aa) of the State Financial Corporation Act, 1951 ag...

High Court

Bombay High Court Allows MSFC Petition Under SFC Act for Recovery of Loan Against Borrower and Guarantors — Personal Guarantors Cannot Escape Liability Despite Company's Sickness. The court held that the liability of personal guarantors under Section 31 of the State Financial Corporation Act, 1951 is independent of the borrower's financial condition.

28 Feb 2005

The Maharashtra State Financial Corporation (MSFC) filed a Miscellaneous Petition under Sections 31, 31(1)(aa), and 32 of the State Financial Corporat...

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