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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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COMMERCIAL APPEAL NO. 371 OF 2019

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Bombay High Court Allows Second Appeal and Decrees Suit for Possession Entirely in Favor of Original Plaintiff. Persons Named in Fraudulent Mutation Entries and Land Development Bank Are Not Necessary Parties Under Sections 47, 48, and 118(5) of the Maharashtra Cooperative Societies Act, 1960.

The second appeal before the Bombay High Court arose from a suit for declaration and possession of agricultural lands filed by the original plaintiff ...

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High Court Adjudicates on Official Liquidator's Report on Claims of Secured Creditors in Company Liquidation. Distribution of Sale Proceeds from Assets of Company Under Liquidation Determined Based on Debts Recovery Tribunal Order.

The matter concerned the winding up of Maharashtra Explosives Ltd., a company incorporated under the Companies Act, 1956. By order dated 12-8-2001, th...

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High Court of Gujarat Quashed Order Refusing Registration of Sale Deed in SARFAESI Act Case — Reasoning that SARFAESI Act Overrides State VAT Attachment. Sub-Registrar Directed to Register Sale Certificate Issued by Bank, as Prior Attachment Under Gujarat VAT Act Does Not Bar Registration.

The petitioner, a successful auction purchaser, filed a writ petition under Article 226 of the Constitution challenging the refusal of the Sub-Registr...