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Search Results for "DRT auction"

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High Court

High Court Allows Writ Petitions by Bank and Auction Purchaser, Quashing DRT Order Setting Aside Auction Sale. DRT Exceeded Jurisdiction by Granting Final Relief in Interim Application Under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Despite Valid Auction Compliance with Rules.

24 Mar 2026

The dispute arose from an order passed by the Debt Recovery Tribunal-III, Mumbai (DRT) setting aside an auction sale conducted by HDFC Bank Limited an...

Supreme Court

Supreme Court Dismisses Guarantors' Appeals in SARFAESI Act Enforcement Case, Upholding Sale of Mortgaged Properties. The Court held that multiple litigations by guarantors constitute abuse of process and cannot defeat the expeditious recovery mechanism under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

23 Sep 2021

The Supreme Court of India dealt with civil appeals arising from special leave petitions challenging a common judgment of the Madras High Court. The d...

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

Bombay High Court Dismisses Writ Petitions Against DRT Order in Debt Recovery Case — Bank Entitled to Recover Debt Under RDB Act. DRT Has Inherent Power to Reject Frivolous Counterclaim Without Recording Evidence, and High Court Should Not Interfere When Alternative Remedy of Appeal Exists.

18 Dec 2019

The case involves two writ petitions arising from proceedings before the Debt Recovery Tribunal (DRT) under the Recovery of Debts Due to Banks and Fin...

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 Allows Appeal Against High Court Order Setting Aside Auction Sale Under SARFAESI Act — Auction Purchaser's Rights Upheld as Sale Was Completed and No Material Irregularity Found. The Court held that once a sale certificate is issued and full consideration paid, the sale cannot be set aside without impleading the auction purchaser and proving material irregularity or fraud under Section 13(4) of SARFAESI Act.

5 May 2023

The case involves an appeal against the judgment of the High Court of Judicature at Hyderabad for the State of Telangana and Andhra Pradesh, which set...

High Court

High Court of Karnataka Dismisses Writ Petition Challenging DRT Order in SARFAESI Act Matter — One Time Settlement Not Binding as Bank Did Not Accept Offer. Court Held That Mere Submission of OTS Proposal Does Not Create Binding Contract; Bank's Rejection Valid.

8 Jul 2024

The petitioners, borrowers of the respondent bank, challenged the order dated 22.09.2022 passed by the Debt Recovery Tribunal-I, Bangalore in Diary No...

High Court

Bombay High Court Dismisses Petition Challenging DRAT Order Upholding DRT's Refusal to Condon Delay in Filing Appeal Against Recovery Certificate. The court held that the petitioner failed to show sufficient cause for the delay of over 7 years in filing the appeal under Section 20(3) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.

29 Aug 2012

The petitioner, Manilal Govindji Khona, a sole proprietor of Messrs. Prisiko Cotton Traders, filed a writ petition challenging the order dated 10.4.20...

Supreme Court

Supreme Court Reiterates: Statutory Remedies Must Be Exhausted in SARFAESI Disputes. When alternative statutory remedies exist, courts should not entertain writ petitions under Article 226.

10 Apr 2024

The Supreme Court dealt with the legality of a High Court's interference in an auction sale under the SARFAESI Act, despite the availability of an alt...

Supreme Court

Supreme Court Upholds High Court's Decision on Auction Sale: Statutory Violations Render Sale Null and Void. Despite recognizing significant procedural breaches, the Supreme Court offers the appellant a chance to retain the industrial property by settling liabilities.

9 Jul 2024

The legality of an auction sale conducted by the Tahsildar and confirmed by the Additional Collector, which was later contested on the grounds of stat...

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