Search Results for "Loan Recovery"

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Bombay High Court Quashes Demand Notice Against Director in Customs Duty Recovery Case – Recovery Provision Under Section 142 Cannot Be Invoked Against Non-Defaulter. Attachment of Director's Personal Property Set Aside as She Was Not Adjudged Liable Under Customs Act, 1962.

Suman N. Agarwal, a director of Nisum Global Limited, filed a writ petition under Article 226 of the Constitution challenging a notice of demand dated...

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Supreme Court Modifies Compensation for Auction Purchaser in Co-operative Bank Recovery Case — Interest at 6% per annum Granted Instead of 5% Solatium. Auction Sale Set Aside on Equitable Grounds; Purchaser Entitled to Interest on Deposit from Date of Payment Till Refund.

The case arises from a recovery proceeding initiated by the 4th respondent Co-operative Bank against borrowers (1st, 2nd, 5th, 6th respondents) for a ...

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NCLAT Chennai Dismisses Appeals by Suspended Directors Against CIRP Initiation Under IBC — Limitation Period for Section 7 Application Computed from Date of Default, Not Date of NPA Classification. Acknowledgment of Debt in Balance Sheets Extends Limitation Under Section 18 of Limitation Act.

The judgment pertains to two appeals filed by suspended directors of M/s. Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) against t...

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Supreme Court Dismisses Tenant's Appeal in SARFAESI Act Case — Oral Tenancy After Mortgage Not Protected. Tenant's claim of tenancy based on oral agreement after mortgage creation cannot defeat bank's right to take possession under Section 14 of SARFAESI Act.

The present appeal arises from an order of the Chief Metropolitan Magistrate, Esplanade, Mumbai, dated 31.12.2014, rejecting the application of the ap...