Search Results for "Asset Reconstruction Company"

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Search Results for "Asset Reconstruction Company"

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High Court

Bombay High Court Allows Section 11 Arbitration Application Under SARFAESI Act Between Secured Creditor and Prospective Secured Creditor Over Title Documents Dispute. The court held that a dispute between a secured creditor and an entity prevented from becoming a secured creditor due to refusal to hand over title documents is arbitrable under Section 11 of the SARFAESI Act, 2002.

6 May 2026

The case involves a petition under Section 11 of the Arbitration and Conciliation Act, 1996, filed by Aditya Birla Housing Finance Limited (Applicant)...

High Court

Bombay High Court Allows Winding Up of S. Kumars Nationwide Ltd. for Inability to Pay Debts. Multiple financial creditors and operational creditors successfully proved the company's insolvency under Sections 433(e) and 434 of the Companies Act, 1956.

1 Jul 2016

The judgment concerns a batch of company petitions filed by various financial creditors and operational creditors seeking the winding up of S. Kumars ...

High Court

Bombay High Court Dismisses Writ Petition Challenging Section 14 SARFAESI Act Order for Police Aid — No Locus Standi for Borrower's Partner After Property Sold to Third Party. The Court held that once the secured asset is sold and possession handed over to the auction purchaser, the borrower or its partner has no right to challenge the Section 14 order, and the remedy lies before the DRT under Section 17 of the SARFAESI Act.

9 Oct 2015

The petitioners, M/s. National Laminate Corporation (a partnership firm) and its partner Mr. Jayantilal L. Nisar, filed a writ petition under Article ...

High Court

Bombay High Court Allows Winding Up Petition Against Company for Failure to Repay Convertible Bonds — Debt Admitted and Company Unable to Pay Under Section 433(e) of Companies Act, 1956. The court held that where a debt is admitted and the company is commercially insolvent, a winding up order is justified.

30 Jul 2013

The Bank of New York Mellon, London Branch, as trustee for bondholders, filed a winding up petition under Section 433(e) of the Companies Act, 1956 ag...

High Court

Bombay High Court Upholds DRAT Order Requiring 25% Pre-deposit for Waiver of Appeal Under SARFAESI Act. Legal Heirs of Guarantor Must Deposit 25% of Section 13(2) Notice Amount as Condition for Hearing Appeal on Merits.

14 Nov 2017

The petitioners, Smt. Julie Amitabh Parekh and others, who are the legal heirs of the deceased guarantor Amitabh Arun Parekh, filed a writ petition ch...

High Court

High Court of Karnataka Dismisses Appeal by Asset Reconstruction Company Against Borrowers in SARFAESI Act Matter — Upholds Single Judge's Order Quashing Possession Notice Due to Non-Compliance with Section 13(2) and (3A). The Court Held That the Secured Creditor Must Strictly Adhere to the Statutory Procedure Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Before Taking Possession.

5 Jun 2024

The appellant, M/s. International Asset Reconstruction Company Limited, a secured creditor, issued a possession notice under the Securitisation and Re...

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

Bombay High Court Allows Summary Judgment in Favor of Asset Managers in Commercial Paper Recovery Suit Despite Pending SICA Appeal. The court held that Section 22 of SICA does not bar recovery suits where BIFR has declined registration, and the defendant failed to raise any triable issue.

5 Feb 2016

The plaintiffs, Pramerica Asset Managers Pvt. Ltd. and others, filed two summary suits against Deccan Chronicle Holdings Ltd. for recovery of Rs. 25 c...

Supreme Court

Supreme Court Allows Bank's Appeal in SARFAESI Act Auction Forfeiture Case — Earnest Money Deposit Forfeiture Upheld as Compensation for Breach of Contract. The Court held that forfeiture of earnest money deposit by a secured creditor under the SARFAESI Act is not subject to proof of actual loss and is governed by the terms of the auction contract, not Sections 73 and 74 of the Indian Contract Act, 1872.

10 Aug 2022

The case involves two appeals by a nationalized bank (appellant) against a common judgment of the Madras High Court, which had allowed the writ petiti...

Supreme Court

Supreme Court Upholds Transfer of Winding Up Petition to NCLT Despite Admission Order. Discretion Under Section 434(1)(c) Companies Act, 2013 Properly Exercised Where Liquidation Was at Initial Stage and No Irreversible Steps Taken.

14 Dec 2020

The Supreme Court dismissed appeals by Action Ispat and Power Pvt. Ltd. against the Delhi High Court's order transferring a winding up petition to the...

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