Search Results for "Unsecured Creditor"

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Search Results for "Unsecured Creditor"

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Supreme Court

Supreme Court Interprets Pre-Deposit Requirement Under Section 18 of SARFAESI Act in Appeals by Borrowers and Secured Creditors. The court held that pre-deposit is mandatory, computed based on the amount claimed in the notice under Section 13(2), excluding future interest, with adjustments for recoveries after filing the petition under Section 17.

23 Apr 2025

The Supreme Court of India, in a group of appeals, addressed the interpretation of Section 18 of the Securitisation and Reconstruction of Financial As...

High Court

High Court of Karnataka Allows Writ Petition Seeking Registration of Sale Certificate Under SARFAESI Act. Sub-Registrar Directed to Register Sale Certificate Despite Pending Civil Suit as Section 89(4) of Registration Act, 1908 Mandates Registration.

28 May 2024

The petitioner, Sri T. Bharathgowda, purchased a property at an auction conducted by Canara Bank (respondent No.3) under the Securitisation and Recons...

Supreme Court

Supreme Court Dismisses Appeal in Insolvency Case Involving Corporate Guarantee for Non-Corporate Borrowers. Corporate Insolvency Resolution Process Under Section 7 of Insolvency and Bankruptcy Code, 2016 is Maintainable Against Corporate Person as Guarantor Even When Principal Borrower is Not a Corporate Person, as Default Triggers Financial Debt and Corporate Debtor Status.

6 Sep 2022

The appeal arose from a dispute under the Insolvency and Bankruptcy Code, 2016 (IBC), where the appellant, a promoter and director of Maharaja Theme P...

Supreme Court

Supreme Court Allows Secured Creditor's Appeal in SARFAESI Act Priority Dispute — Employees' Dues Cannot Override Bank's Claim Over Sale Proceeds of Co-operative Society's Assets. The Court held that Section 529A of the Companies Act, 1956 does not apply to co-operative societies due to Section 167 of the Maharashtra Co-operative Societies Act, 1960, and employees' dues recoverable as arrears of land revenue do not create a paramount charge over secured assets.

4 Dec 2019

The appeal arose from a dispute between the Maharashtra State Co-operative Bank Ltd. (appellant) and employees of Vainganga Sahakari Sakhar Karkhana L...

High Court

Bombay High Court Sanctions Scheme of Amalgamation of Monarch Research and Brokerage Private Limited and Monarch Project and Finmarkets Limited with Networth Stock Broking Limited under Sections 391-394 of the Companies Act, 1956 — Objection by Gold Castle Realtor Dismissed as Not a Creditor or Member.

7 Aug 2014

The judgment concerns two Company Scheme Petitions (CSP 575/2012 and CSP 576/2012) filed by Monarch Project and Finmarkets Limited (2nd Transferor Com...

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 Allows SFC's Claim for Priority Over Central Excise Dues in Recovery from Borrower's Assets. State Financial Corporation's Statutory Charge Under Section 29 of SFC Act, 1951 Prevails Over Crown Debt Under Central Excise Act, 1944.

18 Jul 2006

The petitioner, SICOM Ltd., a State Financial Corporation established under the State Financial Corporations Act, 1951, advanced a term loan of Rs. 51...

High Court

Bombay High Court Dismisses Appeals Against Order Allowing Workmen's Application for Payment of Gratuity and Other Dues from Company Assets. Workmen's dues have priority under Section 529A of Companies Act, 1956, and Official Liquidator must pay from sale proceeds.

30 Nov -0001

The case involves two appeals filed by Grand View Estates Private Limited and Forbes & Company Limited against an order of the Company Court allowing ...

High Court

Bombay High Court Dismisses Bank's Writ Petitions Against Labour Court Orders in Recovery Proceedings Under Section 33C(2) of Industrial Disputes Act, 1947 — Held That Assignee Bank Steps Into Shoes of Transferor and Is Liable for Pre-Transfer Claims of Workmen.

30 Nov -0001

The petitioners, the Authorized Officer and Chairman & Managing Director of IDBI Bank (Stressed Assets Stabilization Fund), filed four writ petitions ...

Tribunals

NCLAT Dismisses Appeal of Personal Guarantor Against Initiation of Insolvency Resolution Process Under IBC. The Tribunal held that the Adjudicating Authority correctly admitted the application under Section 95 of the IBC as the debt was due and default occurred, and the personal guarantor's objections regarding limitation and pending proceedings were not sustainable.

30 Nov -0001

The appeal was filed by Mahdoom Bava Bahrudeen Noorul Ameen (Appellant) under Section 61(3) read with Section 61(1) of the Insolvency and Bankruptcy C...

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