Search Results for "Non Performing Asset"

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Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
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Search Results for "Non Performing Asset"

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High Court

High Court of Karnataka Quashes SARFAESI Notices Against MSME Borrower for Non-Compliance with Mandatory Pre-Action Protocol. Bank's failure to follow RBI Circular dated 29.05.2015 requiring classification as NPA only after 90 days and issuance of 60-day notice before invoking SARFAESI renders proceedings invalid.

29 Apr 2025

The petitioners, M/s. Metro Steel Section (Firm) and its partners, are MSME borrowers who availed credit facilities from the State Bank of India. The ...

High Court

High Court of Karnataka Quashes Magistrate's Order for Appointment of Receiver in DRT Proceedings — Lack of Jurisdiction and Non-Compliance with Section 14 of SARFAESI Act. The court held that the Magistrate cannot appoint a receiver for property not in possession of the borrower and that the remedy under SARFAESI Act is exclusive.

28 Jan 2019

The petitioner, Sri Rameshchandra, claimed to be the owner of a property that was leased out to the second respondent, Sri P. Ravikumar. The first res...

High Court

High Court of Karnataka Dismisses Petition Challenging Bank's E-Auction and Withdrawal of OTS in SARFAESI Act Matter — No Writ of Mandamus to Compel Acceptance of One Time Settlement. The court held that a writ petition under Article 226 is not maintainable against a private bank in contractual matters and that the bank's discretion to accept or reject an OTS cannot be compelled by writ.

14 Dec 2022

The petitioner, M/s Rima Transformers and Conductors Pvt Ltd, a private limited company, availed a credit facility of Rs. 18 crores from Canara Bank. ...

Supreme Court

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.

11 Sep 2019

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

Supreme Court

Supreme Court Dismisses Tenant's Appeal in SARFAESI Act Case, Upholding High Court Order Setting Aside District Magistrate's Decision. District Magistrate's Role Under Section 14 is Limited to Assisting Secured Creditor in Taking Possession, Not Adjudicating Tenancy Disputes, and Tenant's Remedy Lies Under Section 17 Before Debt Recovery Tribunal.

26 Sep 2022

The dispute arose from proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SAR...

High Court

Gujarat High Court Dismisses Petition Challenging DRT Order in SARFAESI Matter — Upholds Bank's Possession for Non-Performing Asset. Held that DRT's refusal to grant interim relief was not perverse or without jurisdiction, and the petition under Article 226/227 was not maintainable as alternative remedy of appeal under Section 18 of SARFAESI Act was available.

13 Mar 2026

The petitioners, Prakashbhai Baldevbhai Patel and another, filed a Special Civil Application under Articles 226 and 227 of the Constitution of India b...

High Court

Supreme Court Upholds Financial Creditor in Insolvency Petition Based on Balance Sheet Acknowledgement Under Limitation Act. The Court held that entries in signed balance sheets constitute acknowledgement of debt under Section 18 of the Limitation Act, 1963, extending the limitation period for applications under Section 7 of the Insolvency and Bankruptcy Code, 2016, and that defects in the application regarding the date of default are curable.

15 Apr 2021

The dispute arose from an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Asset Reconstruction Company (India) ...

High Court

High Court of Karnataka Allows Appeal Against Rejection of Plaint in SARFAESI Act Suit — Limitation Period for Challenge to Auction Sale Under Article 137 of Limitation Act Is Three Years from Date of Sale Confirmation

4 Dec 2013

The appellant, R Venkatapathy, filed a suit (O.S. No. 8639/2006) before the City Civil Court, Bangalore, challenging the auction sale of property cond...

Supreme Court

Supreme Court Dismisses Appeal by Suspended Directors in Insolvency Case on Maintainability and Limitation Grounds. Application under Section 7 of Insolvency and Bankruptcy Code, 2016 Filed by Power of Attorney Holder is Maintainable and Not Barred by Limitation Due to Acknowledgments Extending Period Under Section 18 of Limitation Act, 1963.

30 Sep 2021

The dispute arose from an application filed by Union Bank of India (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016 ag...

High Court

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.

28 Apr 2014

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

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