Search Results for "Loan Recovery"

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Bombay High Court Hears Suit for Redemption of Pledged Securities After Loan Default; Plaintiffs Abandoned Main Claim of Transfer Agreement. Pledge Agreement Clause 14(ii) Notice and Default by Pledgor Form Core of Dispute Over Shares of Sesa Sterlite.

The suit was filed by Harinarayan G. Bajaj and others against Reliance Capital Limited and Sesa Sterlite Limited. Plaintiffs borrowed a total of Rs.10...

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Bombay High Court Allows Second Appeal in Part, Sets Aside Interest Award in Loan Recovery Suit. No Agreement for Interest Existed Between Parties, Hence Interest Cannot Be Awarded Under Section 34 CPC or Interest Act.

The case involves a second appeal filed by the original defendants against a decree for recovery of money. The respondent/plaintiff had filed a suit f...

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Bombay High Court Dismisses Petition Challenging Recovery Certificate Satisfaction Orders in Cooperative Bank Dispute. Special Recovery Officer lacks jurisdiction to adjudicate on validity of recovery certificates or order refund under Maharashtra Cooperative Societies Act, 1960.

The petitioners, M/s. Vilas Transport Co., a partnership firm, filed a writ petition under Article 226 of the Constitution of India challenging two or...

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High Court of Bombay at Nagpur Bench Allows Writ Petition Against Bank for Withholding Title Deeds After Full Loan Repayment — Section 171 of Indian Contract Act, 1872 Does Not Confer Right of General Lien on Banks Over Security Documents Once Loan Is Fully Discharged.

The petitioner, Sunil s/o Ratnakar Gutte, approached the High Court of Bombay at Nagpur Bench by way of a writ petition against Union Bank of India. T...

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Supreme Court Dismisses Appeal Against Initiation of CIRP Against Corporate Debtor Despite Payment by Guarantor's Resolution Applicant. Right of Subrogation Under Section 140 of Indian Contract Act, 1872 Not Available Where Resolution Plan Extinguishes Guarantee and No Payment of Entire Debt.

The case involves an appeal against the initiation of Corporate Insolvency Resolution Process (CIRP) against the 2nd respondent, Gujarat Hydrocarbon a...

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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

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Bombay High Court Sets Aside Revisional Order and Upholds Cooperative Bank's Auction Sale Despite Technical Objection on Deposit. Adjustment of Earnest Money Towards Mandatory 15% Payment Under Auction Terms Held Valid; Defaulting Borrower's Plea Rejected.

The petitioners, a cooperative bank and its Special Recovery Officer, challenged the order dated 19th January 2013 passed by the Divisional Joint Regi...