Search Results for "SARFAESI"

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Supreme Court Allows Secured Creditor's Appeal in Priority Dispute Between SARFAESI Act and MSMED Act. SARFAESI Act's Express Priority Provisions Under Section 26E Prevail Over MSMED Act's Recovery Mechanism, as No Conflict Exists and Priority Must Be Expressly Provided.

The dispute arose from conflicting recovery claims under the SARFAESI Act and MSMED Act against a debtor, Mission Vivacare, which had defaulted on loa...

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High Court of Karnataka Allows Second Appeal in Injunction Suit — Rejection of Plaint Set Aside. Plaint Discloses Cause of Action and Is Not Barred by Limitation Under Order VII Rule 11(d) CPC.

The appellant, M/s. Shree Garodi Steels, filed a suit for permanent injunction against the respondent, M/s. Yojaka India Private Ltd., in O.S. No. 739...

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Madras High Court Allows Writ Petition of Auction Purchaser Against Bank for Delivery of Possession Under SARFAESI Act. Bank's Failure to Hand Over Vacant Possession After Sale Confirmation Constitutes Dereliction of Duty Enforceable Under Article 226.

The petitioner, Vijayanand Srinivasan, an auction purchaser, filed a writ petition under Article 226 of the Constitution of India seeking a writ of ma...

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Bombay High Court Allows EPF Authority to Auction Defaulting Employer's Property Despite Bank's Secured Interest Under SARFAESI Act. Priority of EPF Dues Over Secured Creditors Under Section 11(2) of EPF Act Upheld.

The Central Board of Trustees, Employees Provident Fund (Petitioner) filed a writ petition seeking auction of the property of Respondent No.2 (the emp...

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Supreme Court Upholds NCLAT Decision on Limitation in Insolvency Petition Initiated by Financial Creditor. Application Under Section 7 of Insolvency and Bankruptcy Code, 2016 Held Within Limitation After Excluding Time Spent in SARFAESI Proceedings Under Section 14(2) of Limitation Act, 1963.

The appeal arose from a judgment of the National Company Law Appellate Tribunal (NCLAT) dismissing an appeal against an order of the National Company ...

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High Court of Karnataka Allows Appeal Against Injunction Restraining Bank from Enforcing Corporate Guarantee. The court set aside the injunction as the guarantee deed was unconditional and the bank had a prima facie case under Order 39 Rules 1 and 2 of CPC, enabling it to proceed under SARFAESI Act and IBC.

The appeal arose from an order dated 25.07.2024 passed by the LXXXV Additional City Civil and Sessions Judge, Bengaluru (Commercial Court) in I.A. No....