Search Results for "secured debt"

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Bombay High Court at Goa Dismisses Review Petition in Partition Suit Impleadment...
Bombay High Court Acquits Accused in Corruption Case Due to Unreliable Trap Witn...
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Search Results for "secured debt"

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Supreme Court

Supreme Court Interprets Pre-Deposit Requirement Under Section 18 of SARFAESI Act in Appeals by Borrowers and Secured Creditors. The court held that pre-deposit is mandatory, computed based on the amount claimed in the notice under Section 13(2), excluding future interest, with adjustments for recoveries after filing the petition under Section 17.

23 Apr 2025

The Supreme Court of India, in a group of appeals, addressed the interpretation of Section 18 of the Securitisation and Reconstruction of Financial As...

Supreme Court

Supreme Court Dismisses Contempt Petitions for Alleged Wilful Disobedience of Earlier Judgment in SARFAESI Auction Dispute — No Contempt Made Out as Subsequent Transfers Were Not in Breach of Court Orders. The Court held that the earlier judgment did not contain any specific direction restraining transfers, and the respondents had acted under colour of subsequent orders from the DRT and High Court.

13 Dec 2024

The Supreme Court dismissed contempt petitions filed by Celir LLP, the successful auction purchaser, alleging wilful disobedience of its earlier judgm...

Supreme Court

Supreme Court Allows Appeals in IBC Financial Creditor Classification Case — Security Deposit for Sales Promotion Not a Financial Debt. Held that a security deposit paid under a service agreement for sales promotion does not constitute a financial debt under Section 5(8) of the Insolvency and Bankruptcy Code, 2016, as there is no disbursal for time value of money or commercial effect of borrowing.

25 Apr 2024

The Supreme Court allowed appeals against NCLAT judgments that classified security deposits paid by sales promoters as financial debts under the Insol...

Supreme Court

Supreme Court Allows Appeal of Paschimanchal Vidyut Vitran Nigam Ltd. in Insolvency Case — Holds That Statutory Charge Under Electricity Supply Agreement Survives Liquidation and Must Be Respected Under IBC. The Court ruled that a charge created under Section 53 of the Electricity Act, 2003 read with contractual terms is not extinguished by the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016, and the liquidator must treat the appellant as a secured creditor.

1 Jan 2023

The appellant, Paschimanchal Vidyut Vitran Nigam Ltd. (PVVNL), a state electricity distribution company, entered into an electricity supply agreement ...

Supreme Court

Supreme Court Allows Appeal in Part on Operational Creditor Status but Upholds Dismissal on Limitation in Insolvency Case. The court held that a purchaser does not qualify as an operational creditor under Section 5(20) of the Insolvency and Bankruptcy Code, 2016, and the application under Section 9 was barred by limitation due to debt arising from 2013 transactions.

4 Feb 2022

The appeal arose from a dispute under the Insolvency and Bankruptcy Code, 2016, involving the appellant, Consolidated Construction Consortium Limited,...

Supreme Court

Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

26 Jul 2021

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

Supreme Court

Supreme Court Allows Appeal in IBC Limitation Dispute — Application Under Section 7 Held Barred by Limitation. Acknowledgment of Debt in Balance Sheets Does Not Extend Limitation for Initiating CIRP Under IBC.

9 Aug 2019

The Supreme Court allowed the appeal filed by Babulal Vardharji Gurjar, a director of Veer Gurjar Aluminium Industries Pvt. Ltd., against the order of...

High Court

Bombay High Court Dismisses Bank's Revision Against Trial Court's Jurisdiction Ruling in SARFAESI Act Suit. Civil Court Has Jurisdiction to Entertain Suit for Permanent Injunction Against Re-auction of Mortgaged Property Despite SARFAESI Act Provisions.

16 Apr 2015

The respondent, original plaintiff, filed Regular Civil Suit No.1756 of 2014 seeking a permanent injunction restraining the applicant bank from re-auc...

High Court

Bombay High Court Dismisses Winding-Up Petition for Unascertained Damages Claim — Lock-in Period License Fee Not a Debt Under Companies Act, 1956. Claim for balance license fee after premature vacation is a claim for damages requiring adjudication, not a debt due and payable under Sections 433 and 434 of the Companies Act, 1956.

28 Feb 2014

The petitioning-creditor, Indiabulls Properties Pvt. Ltd., filed a winding-up petition under Sections 433 and 434 of the Companies Act, 1956, against ...

High Court

Bombay High Court Allows Writ Petitions Against SARFAESI Proceedings Due to Non-Compliance with Section 18(1) Second Proviso — Debt Recovery Tribunal Failed to Consider Borrower's Application Before Issuing Recovery Certificate. The court held that the DRT must decide an application for waiver or reduction of the pre-deposit under Section 18(1) second proviso of the SARFAESI Act before entertaining the appeal or issuing a recovery certificate.

8 Oct 2013

The judgment involves two writ petitions filed under Article 226 of the Constitution of India challenging the actions of secured creditors under the S...

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