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Search Results for "SARFAESI auction"

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Supreme Court

Supreme Court Allows Bank's Appeal for Return of Original Documents in SARFAESI Auction Dispute. The Court held that the bank is entitled to return of original title deeds deposited in a pending DRT proceeding to hand over to the auction purchaser, as the sale under SARFAESI Act is independent and the validity of mortgage can be adjudicated using photocopies.

1 Jan 2020

The Supreme Court allowed the appeal filed by the State Bank of India against the High Court order that had refused to return original documents depos...

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

Bombay High Court Dismisses Trade Unions’ Petitions Challenging Sale of Assets by Secured Creditor Under SARFAESI Act. Sale of properties of company in liquidation by PMC Bank after assignment of debts held valid; alternative remedy under Section 17 of SARFAESI Act available and writ jurisdiction not invoked.

19 Apr 2010

The disputes arose from the winding up of M/s. Navinon Limited under the orders of the Bombay High Court, with the Official Liquidator appointed. The ...

High Court

Bombay High Court Considers Writ Petition Challenging Estate Officer’s Jurisdiction Under PP Act Against SARFAESI Possession. Asset Reconstruction Company Asserts SARFAESI Act Overrides PP Act, Requiring Landlord to Approach Debt Recovery Tribunal.

24 Aug 2016

The writ petitioner, an Asset Reconstruction Company incorporated under the Companies Act, 1956 and registered under the SARFAESI Act, challenged the ...

High Court

Bombay High Court Allows Writ Petition Challenging SARFAESI Section 14 Order and Possession Notices Due to Lack of Proper Service and Violation of Natural Justice. The court set aside the order under Section 14 of the SARFAESI Act, 2002 and subsequent possession notices as they were passed without notice to the petitioner, who was not a borrower or guarantor.

22 Sep 2022

The petitioner, Satishkumar Surendra Shetty, filed a writ petition before the Bombay High Court challenging an order dated 9 February 2017 passed by t...

High Court

Bombay High Court Dismisses Appeals of Retired Employees Against Cooperative Bank's SARFAESI Recovery Proceedings. Employees Held Not to Be 'Borrowers' and Lack Locus Standi to Challenge Auction Sale Without Payment of Dues.

30 Nov -0001

The judgment pertains to a batch of Letters Patent Appeals filed by retired employees of Shamrao Vithal Cooperative Bank Ltd. against the dismissal of...

High Court

Bombay High Court Allows Secured Creditor's Priority Over Sales Tax Dues in MVAT Act Attachment Dispute. State Bank of India's mortgage charge on borrower's property held superior to VAT recovery under Section 32 of MVAT Act, 2002, following Central Bank of India v. State of Kerala ratio.

17 Dec 2020

The State Bank of India (SBI), a secured creditor, filed a writ petition under Article 226 of the Constitution challenging the attachment of a propert...

High Court

High Court of Judicature at Bombay Considers Whether DRT Mumbai Has Territorial Jurisdiction Under SARFAESI Act When Cause of Action Arises in Mumbai and Secured Property in Gujarat. Interpretation of Sections 17(7) SARFAESI Act and 19(1) RDDB Act and Applicability of CPC Section 16 to Securitization Applications.

15 Dec 2015

The writ petition under Article 226 of the Constitution of India challenged an order of the Debt Recovery Appellate Tribunal (DRAT) dated 8 October 20...

High Court

High Court of Karnataka Quashes SARFAESI Proceedings Against Company Under CIRP — Resolution Professional Entitled to Possession of Assets. Held that Section 14 of IBC overrides SARFAESI Act and other laws, and the moratorium under IBC bars any proceedings against the corporate debtor's assets.

24 May 2021

The petitioner, M/s. Dreams Infra India Pvt. Ltd., represented by its Resolution Professional Sri Ashok Kriplani appointed by the National Company Law...

High Court

Bombay High Court Dismisses Petition Challenging Attachment Order Under Maharashtra Cooperative Societies Act — Creditor Can Execute Recovery Certificate Against Any Available Property Despite Prior SARFAESI Proceedings. The court held that there is no legal bar to a creditor simultaneously proceeding under the SARFAESI Act and executing a recovery certificate under Section 101 of the Maharashtra Cooperative Societies Act, 1960 against other properties of the debtor.

25 Mar 2019

The petitioners, M/s Anjali Tours & Travels and Others, filed a writ petition before the Bombay High Court challenging an attachment order issued by t...

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