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Bombay High Court Allows Assignee of Debt to Proceed Under SARFAESI Act Despite Company Being Under Liquidation. Assignee Steps into Shoes of Original Lender and Can Enforce Security Interest Under Section 13 of SARFAESI Act, 2002.

The petitioner, ASREC (India) Limited, is a company registered as a Reconstruction Company and Securitisation Company with the Reserve Bank of India u...

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Bombay High Court Dismisses Petitioner's Challenge to Bank Auction — Bid Below Reserve Price and Without Earnest Money Rejected. Auction Sale Confirmed in Favor of Highest Bidder Despite Petitioner's Claim of Irregularity.

The Petitioner, Goldie Sud, filed a writ petition under Article 226 of the Constitution of India challenging the public auction conducted by Punjab Na...

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Bombay High Court Upholds Bank's Right to Enforce Security Under SARFAESI Act Outside Insolvency; No Fetters on Secured Creditor. Secured creditor entitled to stand outside insolvency proceedings under Presidency-Towns Insolvency Act, 1909 and proceed under SARFAESI Act for recovery of dues.

The appellant, Punjab National Bank, stood as a secured creditor by virtue of a guarantee executed by the second respondent, Soumit Ranjan Jena, for a...

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Madras High Court Allows Writ Petition Seeking Entry of Sale Certificate in Book I Without Stamp Duty. Registering Authority Directed to Comply with Section 89(4) of Registration Act, 1908 for Sale Certificate Issued Under SARFAESI Act.

The petitioner, Kalidass, filed a writ petition under Article 226 of the Constitution of India before the Madurai Bench of the Madras High Court seeki...

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Bombay High Court Dismisses Decree Holder's Application to Implead Auction Purchaser in Execution Proceedings — Order VI Rule 17 CPC Application Rejected as Execution is Not a 'Trial' and Amendment Would Change Nature of Suit

The petitioner, Sangli Zilla Parishad Employees Co-operative Credit Society Limited, had advanced a loan to respondent no.1, Ninaidevi Sahakari Sakhar...

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Bombay High Court Allows Appeal in SARFAESI Act Case — Plaint Rejection Upheld for Lack of Civil Court Jurisdiction. Dispute over mortgaged properties held to be exclusively triable by DRT under Section 34 of SARFAESI Act, 2002.

The case involves two appeals arising from a suit filed by Pooja Ravikumar Nidasoshi and Vandana (plaintiffs) against the Gadhinglaj Urban Co-operativ...

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High Court of Bombay Quashes DRAT Order in SARFAESI Act Case for Exceeding Jurisdiction Under Section 18 — Bank's Possession of Secured Asset Upheld Despite Alleged Procedural Irregularities.

The case involves a dispute between IDBI Bank Ltd (Petitioner) and Aditya Logistics (I) Pvt. Ltd. and others (Respondents) concerning the enforcement ...