News Muncher - searching for sarfaesi

3 days, 11 hours ago

Senior Associate And Associate Lawyer Vacancy At S. Jalan & Company [Apply Now]

Live Law

S. Jalan & Company invites application for the post of Senior Associate and Associate Lawyer. Name of the Post: Senior Associate and Associate Lawyer Remuneration: Senior Associate: Competitive remuneration aligned with industry standards, Exposure to high-value and challenging cases in courts and tribunals, Mentorship and growth opportunities within a reputed law firm, and A collaborative work environment fostering innovation and …

Law High Court Arbitration Legal Court Cases Tribunals

SARFAESI | Confirmed Sale Can't Be Set Aside For Mere Irregularities Except Fraud, Collusion, Inadequate Pricing, Under-bidding Etc

Live Law

The Supreme Court recently explained the circumstances under which a sale of property by auction or other means under the SARFAESI Act can be set-aside after its confirmation. The Court held that mere procedural irregularities or deviation from rules are not grounds to set aside a confirmed sale unless such errors are fundamental in nature, such as fraud, collusion, inadequate …

Court Sale Auction Collusion Confirmed Sale Inadequate Pricing

SARFAESI | Confirmed Sale Can't Be Set Aside For Mere Irregularities Except Fraud, Collusion, Inadequate Pricing, Under-bidding Etc

Live Law

The Supreme Court recently explained the circumstances under which a sale of property by auction or other means under the SARFAESI Act can be set-aside after its confirmation. The Court held that mere procedural irregularities or deviation from rules are not grounds to set aside a confirmed sale unless such errors are fundamental in nature, such as fraud, collusion, inadequate …

Court Sale Auction Collusion Confirmed Sale Inadequate Pricing

1 week, 4 days ago

Maintenance Right Of Wife & Children Overrides Creditors' Claims Under SARFAESI/IBC On Husband's Assets : Supreme Court

Live Law

While giving precedence to the maintenance rights of a man's wife and children over the rights of creditors under recovery proceedings, the Supreme Court recently observed that right to maintenance is equivalent to a fundamental right and shall have an overriding effect over statutory rights of creditors, etc. In appeal, the Gujarat High Court enhanced the amounts, granting the respondent-wife …

Children Supreme Court Court Maintenance Order Right High

2 weeks, 6 days ago

E-auction of sick business assets on dedicated platform may become compulsory

Live Mint

New Delhi: Auction of assets like land, buildings, plant and machinery belonging to businesses getting liquidated is likely to see a wider public participation, with the Insolvency and Bankruptcy Board of India planning to make these transactions more mainstream. After asking liquidators on 29 October to list all such assets of companies facing liquidation on the eBkray platform set up …

Assets Auction Platform Jain Portal Srivastava Ibc

3 weeks ago

SARFAESI And Arbitration Proceedings Can Proceed Parallely As Nature Of Both Proceedings Is Distinct: Bombay High Court

Live Law

The Bombay High Court bench of Justice Advait M Sethna has affirmed that SARFAESI proceedings are in the nature of enforcement proceedings, while arbitration is in the context of an adjudicatory proceedings. A careful perusal of the record makes it clear that there is an arbitral clause contained in loan agreement dated 13 September 2018 which states that all claims …

High Court Arbitration Bombay High Court Loan Applicant Agreement Respondent

3 weeks, 5 days ago

Mere Possession Over Assets Of Corporate Debtor Under SARFAESI Act Does Not Bar Filing Of Petition U/S 7 Of IBC: NCLT Kolkata

Live Law

The NCLT Kolkata bench of Ms. Bidisha Banerjee and Shri Arvind Devanathan have held that mere possession over assets of the corporate debtor under the SARFAESI Act does not prevent the financial creditor from preferring an application under section 7 of the IBC. Whether Mere Possession Of Assets Of The Corporate Debtor Under SARFAESI Act Bars Filing Of Petition Under …

Corporate Financial Resolution Corporate Debtor Application Tribunal Nclt

3 weeks, 5 days ago

Mere Possession Over Assets Of Corporate Debtor Under SARFAESI Act Does Not Bar Filing Of Petition U/S 7 Of IBC: NCLT Kolkata

Live Law

The NCLT Kolkata bench of Ms. Bidisha Banerjee and Shri Arvind Devanathan have held that mere possession over assets of the corporate debtor under the SARFAESI Act does not prevent the financial creditor from preferring an application under section 7 of the IBC. Whether Mere Possession Of Assets Of The Corporate Debtor Under SARFAESI Act Bars Filing Of Petition Under …

Corporate Financial Resolution Corporate Debtor Application Tribunal Nclt

1 month ago

Filing Petition U/S 10 Of IBC Subsequent To Action Taken Under SARFAESI Act Cannot Be Termed Malicious Or Fraudulent: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Arun Baroka has held that merely because proceeding under Section 13, sub-section and of the SARFAESI Act has been initiated by the creditor prior to filing of Section 10 application, cannot be a ground to hold that Section 10 application is filed with malicious and fraudulent intent to be rejected …

Corporate Corporate Debtor Application Tribunal Proceedings Filed Filing

1 month ago

Property Of Personal Guarantors Cannot Be Sold Under SARFAESI Act During Moratorium Period U/S 96 Of IBC: NCLT Mumbai

Live Law

The NCLT Mumbai bench of Mr. Charanjeet Singh Gulati and Justice Lakshmi Gurung has held that once a petition under section 95 of the IBC is filed, the interim moratorium under section 96 is triggered. Brief Facts This application has been filed by, Raghavendra Joshi under Section 60 r/w Section 60 of the Insolvency and Bankruptcy Code, 2016 read with …

Personal Mumbai Property Sale Bank Application Tribunal

1 month, 1 week ago

Supreme Court Stays Commercial Suit Proceedings Against Aditya Birla Finance Over SARFAESI Proceedings

Live Law

The Supreme Court recently issued notice on a special leave petition filed by Aditya Birla Finance Ltd against a judgment of the Bombay High Court which held that a commercial suit won't be barred by Section 34 of the SARFAESI Act when there are allegations of fraud. A Special Leave Petition was filed before the Supreme Court by Aditya Birla …

Supreme Court Court Bombay High Court Suit Sarfaesi Act Section 34 Stays Commercial

2 months ago

Court Rejects Plaint Citing SARFAESI Act, Finds It Amounts to Miscarriage of Justice

Live Law

The High Court sets aside the orders of the Commercial Court and the Appellate Court, restoring the plaint in the commercial suit filed by the shareholder against the bank. The court held that the bank's rejection of the plaint citing Section 34 SARFAESI Act amounted to a miscarriage of justice, as the specific pleadings and reliefs sought were sought under …

Law Crime Legal Proceedings Specific Relief Act Mumbai

2 months, 1 week ago

Limited Scope of Examination under Section 11 of the Arbitration Act: Bombay High Court

Live Law

The Bombay High Court has held that the scope of examination under section 11 (6A) of the Arbitration and Conciliation Act should be confined to the existence of an arbitration agreement on the basis of Section 7. The court observed that the referral court has limited jurisdiction to see whether an arbitration agreement exists or not. Once it is satisfied …

Law Arbitration Dispute Resolution Arbitral Proceedings Mumbai

4 months ago

No Violation of Section 14(1)(d) IBC in Auction of Subsidiary's Assets Under SARFAESI Act: NCLAT Principal Bench

Live Law

The National Company Law Appellate Tribunal Principal Bench, New Delhi of Justice Ashok Bhushan and Barun Mitra has held that there is no violation of Section 14 of the Insolvency and Bankruptcy Code in the auction of assets or facilities of a subsidiary company if the assets were handed over to the Corporate Debtor for operation and maintenance under the …

Corporate Rights Assets Agreement Respondent Act Facility

4 months, 2 weeks ago

Local Debt Recovery Tribunal Must Be Established In Jammu And Kashmir, Says Supreme Court

Live Law

The Supreme Court on Friday called for the establishment of local Debt Recovery Tribunals in Jammu and Kashmir. A bench of Justice Abhay Oka and Justice Augustine George Masih was hearing a plea by a bank against the Jammu and Kashmir and Ladakh High Court's decision allowing challenges to actions under the SARFAESI Act to be made before the High …

Justice Court Kashmir High Chandigarh Ladakh Jammu

5 months ago

Kerala High Court Weekly Round-Up: July 16 – July 21, 2024

Live Law

Nominal Index Remya Haridas v State of Kerala and Others, 2024 LiveLaw 437 Abdul Razak v Union of India, 2024 LiveLaw 438 Vivek Joy v State of Kerala & Connected Case, 2024 LiveLaw 439 Soman T. N. v Additional District Collector and Others, 2024 LiveLaw 440 Joby George v Siby Valloran, 2024 LiveLaw 441 Sajith Shyam v State of Kerala, …

India Justice Kerala Court Income Tax Title Kerala High Court

5 months ago

Register Writ Petitions Against DRT/SARFAESI Proceedings As Unnumbered And Send To Bench : Kerala High Court To Registry

Live Law

The Kerala High Court issued a notification on July 19 directing the Filing Scrutiny Officers to register petitions filed under the DRT Act and SARFAESI Act as unnumbered and sent to the Bench as per roster for directions. This is pursuant to the judgment of the Supreme Court in PHR Invent Educational Society vs. UCO Bank deprecating the interference of …

Court Petitions Kerala High Court High Bench Register Writ

5 months, 2 weeks ago

[SARFAESI Act] Nature Of Secured Asset Continues To Remain Same Even After Being Purchased By Secured Creditor: Kerala High Court

Live Law

The Kerala High Court held that a 'secured asset' continues its nature of 'secured asset' even after it is bought by the secured creditor. High Court held that this would mean that the character of the property as a 'secured asset' will continue for the purpose of the SARFAESI Act. The High Court referred to ITC Limited v Blue Coast …

High Court Property Court Bank Judicial Act Magistrate

5 months, 3 weeks ago

Consumer Commission Has No Jurisdiction To Entertain Matters Coming Under Purview Of SARFAESI Act: Orissa High Court

Live Law

The Orissa High Court has held that the Consumer Commissions do not have jurisdiction to entertain any suit or proceeding which is subject matter of adjudication by Debt Recovery Tribunal or Appellate Tribunal under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Clarifying the jurisdictional issue, the Division Bench of Justice Debabrata Dash and …

Consumer Jurisdiction Court Consumer Commission Notice Commission Act

5 months, 3 weeks ago

HC clarifies its stance on ‘pending’ criminal proceedings for passport renewal

Hindustan Times

MUMBAI: The Bombay high court recently clarified that for a criminal proceeding to be considered ‘pending’, it must be registered before a court of law which should take cognisance of the case. The Bombay high court recently clarified that for a criminal proceeding to be considered ‘pending’, it must be registered before a court of law which should take cognisance …

Mumbai Court Criminal Case Passport Bhatt Pending Proceeding

5 months, 3 weeks ago

Supreme Court Refuses To Entertain Petition Challenging SARFAESI Condition Of Pre-deposit To Appeal Before DRAT

Live Law

The Supreme Court on Wednesday declined to issue notice in a petition filed by a Company Director challenging the validity of the condition of 50% pre-deposit for an appeal to DRAT under S. 18 of the SARFAESI Act. The main contention of the petitioner was that the provisos to the S. 18 impose the condition of depositing either 50% of …

Supreme Court Appeal Court Order Petition Petitioner Drat

7 months, 4 weeks ago

[S.14 SARFAESI Act] District Magistrates Can't Adjudicate On Application For Taking Possession Of Secured Assets, Constantly Breaching Law: Punjab & Haryana HC

Live Law

The Punjab & Haryana High Court has made it clear that the District Magistrate under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is only an executing functionary and not empowered to make any adjudication on the application made by the creditors for taking possession of the secured assets.Observing. The Punjab …

Representation Court Bank Application Punjab District Act

8 months ago

Defaulter Can't Initiate Criminal Proceedings Against Creditor/Auction Purchaser Against Auction Held Under SARFAESI Act, Must Go To DRT: Allahabad High Court

Live Law

While quashing criminal proceedings against officers of M/s Himri Estate Private Limited and Indiabulls Housing Finance Ltd. initiated by Shipra Group, the Allahabad High Court held that defaulter cannot initiate criminal proceedings against creditor/auction purchaser against the auction conducted under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Criminal proceedings cannot be …

Justice High Court Court Criminal Criminal Proceedings Auction Held

8 months, 1 week ago

S.17 (1A) SARFAESI Act | Jurisdiction Of DRTs Can't Be Solely Decided Based On Location Of Asset: Allahabad High Court Clarifies

Live Law

The Allahabad High Court has held that jurisdiction of the Debt Recovery Tribunal to entertain application under Section 17 of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 cannot be based solely on the location of the secured asset. The Court held that the insertion of Section 17 of the SARFAESI Act has an overriding …

Jurisdiction Recovery Court Bank Lucknow Application Tribunal

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Senior Associate And Associate Lawyer Vacancy At S. Jalan & Company [Apply Now]

SARFAESI | Confirmed Sale Can't Be Set Aside For Mere Irregularities Except Fraud, Collusion, Inadequate Pricing, Under-bidding Etc

SARFAESI | Confirmed Sale Can't Be Set Aside For Mere Irregularities Except Fraud, Collusion, Inadequate Pricing, Under-bidding Etc

Maintenance Right Of Wife & Children Overrides Creditors' Claims Under SARFAESI/IBC On Husband's Assets : Supreme Court

E-auction of sick business assets on dedicated platform may become compulsory

SARFAESI And Arbitration Proceedings Can Proceed Parallely As Nature Of Both Proceedings Is Distinct: Bombay High Court

Mere Possession Over Assets Of Corporate Debtor Under SARFAESI Act Does Not Bar Filing Of Petition U/S 7 Of IBC: NCLT Kolkata

Mere Possession Over Assets Of Corporate Debtor Under SARFAESI Act Does Not Bar Filing Of Petition U/S 7 Of IBC: NCLT Kolkata

Filing Petition U/S 10 Of IBC Subsequent To Action Taken Under SARFAESI Act Cannot Be Termed Malicious Or Fraudulent: NCLAT

Property Of Personal Guarantors Cannot Be Sold Under SARFAESI Act During Moratorium Period U/S 96 Of IBC: NCLT Mumbai

Supreme Court Stays Commercial Suit Proceedings Against Aditya Birla Finance Over SARFAESI Proceedings

Court Rejects Plaint Citing SARFAESI Act, Finds It Amounts to Miscarriage of Justice

Limited Scope of Examination under Section 11 of the Arbitration Act: Bombay High Court

No Violation of Section 14(1)(d) IBC in Auction of Subsidiary's Assets Under SARFAESI Act: NCLAT Principal Bench

Local Debt Recovery Tribunal Must Be Established In Jammu And Kashmir, Says Supreme Court

Kerala High Court Weekly Round-Up: July 16 – July 21, 2024

Register Writ Petitions Against DRT/SARFAESI Proceedings As Unnumbered And Send To Bench : Kerala High Court To Registry

[SARFAESI Act] Nature Of Secured Asset Continues To Remain Same Even After Being Purchased By Secured Creditor: Kerala High Court

Consumer Commission Has No Jurisdiction To Entertain Matters Coming Under Purview Of SARFAESI Act: Orissa High Court

HC clarifies its stance on ‘pending’ criminal proceedings for passport renewal

Supreme Court Refuses To Entertain Petition Challenging SARFAESI Condition Of Pre-deposit To Appeal Before DRAT

[S.14 SARFAESI Act] District Magistrates Can't Adjudicate On Application For Taking Possession Of Secured Assets, Constantly Breaching Law: Punjab & Haryana HC

Defaulter Can't Initiate Criminal Proceedings Against Creditor/Auction Purchaser Against Auction Held Under SARFAESI Act, Must Go To DRT: Allahabad High Court

S.17 (1A) SARFAESI Act | Jurisdiction Of DRTs Can't Be Solely Decided Based On Location Of Asset: Allahabad High Court Clarifies