Search Results for "Loan Recovery"

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Bombay High Court Grants Leave to Defend in Summary Suit for Recovery of Loan Based on Dishonoured Cheques — Defendant Raises Triable Issues Including Running Account, Collateral Security, and Validity of Presentment.

The plaintiffs, M/s. Ashok Commercial Enterprises and another, filed a summary suit against Parekh Aluminex Limited for recovery of Rs. 68,37,96,666/-...

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Bombay High Court Allows Writ Petition Challenging SARFAESI Act Possession Notice — Bank Directed to Consider One-Time Settlement Offer. Failure to Consider OTS Proposal Before Taking Possession Violates Principles of Fairness and Natural Justice Under Section 13(2) of SARFAESI Act, 2002.

The petitioner, Surendra Nikose, had availed a housing loan from the State Bank of India (respondent). Due to financial difficulties, he defaulted on ...

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Supreme Court Allows Bank's Appeal, Holds Borrower of Project Loan Not a Consumer Under Consumer Protection Act, 1986. Loan availed for commercial purpose of film post-production excludes company from consumer definition under Section 2(1)(d)(ii).

The Supreme Court considered two appeals arising from an order of the National Consumer Disputes Redressal Commission (NCDRC) dated 30.08.2023. The ap...

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Bombay High Court Dismisses Writ Petition Challenging DRT Recovery Officer's Confirmation of Private Sale. Court Holds That Once Sale Is Confirmed and Possession Delivered, Remedy Lies in Civil Suit for Damages, Not in Writ Jurisdiction Under Articles 226 and 227 of Constitution of India.

The petitioners, Shaikh Gulab Shaikh Ahmed and Ambadas Maruti Kale, filed a writ petition under Articles 226 and 227 of the Constitution of India chal...

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Gujarat High Court Quashes FIR in Bank Loan Fraud Case Due to Full Repayment and No Due Certificate. Court holds that continuation of criminal proceedings after full satisfaction of loan and issuance of No Due Certificate would be an abuse of process of law under Section 482 CrPC.

The applicant, Sanjay Jivrajbhai Satodiya, filed a criminal miscellaneous application under Section 482 of the Code of Criminal Procedure, 1973 before...

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Bombay High Court Allows Section 9 Petition for Appointment of Receiver and Injunction in Loan Default Case. Loan Agreement and Mortgage by Deposit of Title Deeds Established Prima Facie Case for Interim Relief Under Section 9 of the Arbitration and Conciliation Act, 1996.

The petitioner, Aditya Birla Finance Limited, a non-banking finance company, filed a petition under Section 9 of the Arbitration and Conciliation Act,...