News Muncher - category borrower

11 hours, 14 minutes ago

Allahabad High Court Quashes Criminal, ED Proceedings Initiated Against Indiabulls & Its Officials

Live Law

The Allahabad High Court, on Friday, quashed the criminal proceedings initiated by the borrower, Shipra Group, and the Enforcement Directorate against the Indiabulls Group and its officials as arbitral proceedings pursuant to the loan agreements are already underway, a fact which was suppressed by the informant. Observing that the informant had hidden the various proceedings instituted by him in different …

Court Criminal Proceedings Loan High Fir Material Facts Shares

1 week ago

Disbursement Of Non Fund-Based Facilities Cannot Be Refused By Lenders When Resolution Plan Contains Clause For Disbursement: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that Non Fund Based facilities cannot be refused to be disbursed when the approved Resolution Plan contains a clause for their disbursement. On the other hand, the respondents submitted that the submission of the Appellants that they do not have any obligation to issue/ …

Resolution Facilities Company Resolution Plan Tribunal Plan Approved

Contempt Power Is Not Only For Violation Of Express Orders; Applies To Any Act Intended To Frustrate Judicial Process : Supreme Court

Live Law

In a significant judgment, the Supreme Court observed that contempt jurisdiction is not confined only to violation of express judicial directions but also extends to acts which are intended to frustrate court proceedings or bypass the eventual judgment. Even in the absence of such specific mandates, the deliberate conduct of parties aimed at frustrating court proceedings or circumventing its eventual …

Supreme Court Judgment Court Contempt Proceedings Borrower Celir Llp

2 weeks ago

Navigating Intersection Of Anti-Money Laundering And Recovery Laws: The Imperative For Collaboration And Cooperation

Live Law

The legislative efforts to combat money laundering activities in the country and the legislative measures to deal with the recovery of nonperforming assets in the Banking sector without the intervention of courts of law coincided in the same year with the passage of two special Acts in the year 2002. An Act to regulate securitisation and reconstruction of financial assets …

Properties Recovery Money Laundering Money Enforcement Financial Institutions Bank

3 weeks, 6 days ago

Application U/S 95 Cannot Be Rejected On Grounds Of Pendency Of One Time Settlement Proposal: NCLAT

Live Law

The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that pendency of One Time Settlement Proposal which is yet to be accepted, cannot be a ground to refuse initiation of insolvency process against the personal guarantors. Brief Facts These two appeals have been filed challenging the order passed by National …

Personal Appellant Ots

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, 3 weeks ago

NCLT Allows Personal Guarantor to Classify Account as NPA During Moratorium Period

Live Law

The NCLT has admitted a Section 95 application filed by the applicant bank to initiate CIRP against the Personal Guarantor of M/s CMYK Printech Limited. The tribunal found that the liability of the Personal Guarantor is co-existing with that of the Principal Borrower and that it falls under the ambit of Section 128 of the Indian Contract Act, 1872. The …

Law Finance Corporate NPA New Delhi

3 months, 3 weeks ago

£5bn in new loans handed to older mortgage borrowers in second quarter of 2024

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The number of new loans …

Retirement Mortgage Borrowers Hargreaves Lansdown Second Quarter Borrower Helen Morrissey

3 months, 3 weeks ago

MFI Risks Rise with Overleveraging in Bihar, UP

Deccan Chronicle

Chennai: Increasing borrower leverage, especially in states like Bihar and Uttar Pradesh, is a key concern for the micro-finance segment. For MFI borrowers, the check on household leverage becomes paramount, as improved availability of loans from MFI players, government loans, Kisan Credit Card loans, mudra loans, gold loans, and other fintech loans could overleverage the end MFI borrower, impacting repayment …

Uttar Pradesh Loans High Borrower Nbfc Mfi Bihar Uttar

3 months, 3 weeks ago

Freetrade rolls out share lending feature: What is it and how does it work?

Daily Mail

Freetrade will allow its customers to loan out their in-demand shares to borrowers in exchange for a small fee, This Is Money can reveal. Stock lending: Freetrade customers can lend in-demand shares and earn a fee How does share lending work? Freetrade says that no changes will be made to how customers can manage their portfolio and customers can still …

Income Customers Lending Borrower Sell Shares Freetrade Share Lending

5 months, 1 week ago

Corporate Guarantor Can't Be Absolved From Its Liability Only Due To Non-Invocation Of Guarantee: NCLAT Delhi

Live Law

The National Company Law Appellate Tribunal Delhi bench, comprising Mr. Justice Ashok Bhushan and Mr. Barun Mitra held that a Corporate Guarantor cannot be absolved from its liability only due to non-invocation of guarantee. Central Bank of India filed an objection providing details of the working capital term loan secured by the Corporate Guarantor. The Corporate Guarantor filed the appeal …

Delhi Corporate Central Bank Bank Company Liability Nclt

5 months, 2 weeks ago

Man, two cousins held for murdering borrower

Hindustan Times

New Delhi Police solved the blind murder case through technical analysis and intelligence network. {{^usCountry}} {{/usCountry}} Police said the trio invited the victim, Gaurav Thakur, to the parking lot, drank liquor with him and shot him in the neck with two countrymade guns they procured for the purpose. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} DCP Meena said that on Friday, a caller …

Delhi Murder Meena Thakur Two Cousins Ombir

5 months, 2 weeks ago

Man, two cousins held for murdering borrower

Hindustan Times

New Delhi Police solved the blind murder case through technical analysis and intelligence network. A 48-year-old man and his two cousins were arrested for allegedly murdering a 38-year-old man for not returning ₹2.5 lakh he had borrowed from the suspect a few months ago, police said on Monday. Police said the trio invited the victim, Gaurav Thakur, to the parking …

Murder Meena Thakur Two Cousins Ombir

5 months, 3 weeks ago

NCLT Kochi: Creditors Can't Initiate Insolvency Proceedings Against Personal Guarantor Without Establishing Independent Default By CD

Live Law

The National Company Law Tribunal Kochi, comprising Justice T Krishna Valli and Mr. Shyam Babu Gautam dismissed the application to initiate insolvency proceedings against the Personal guarantors under Section 95 of Insolvency and Bankruptcy Code, 2016. It held that creditors cannot initiate insolvency proceedings against personal guarantors solely based on the initiation of the Corporate Insolvency Resolution Process without showcasing …

Personal Corporate Insolvency Tribunal Nclt Proceedings Default

7 months, 3 weeks ago

RBI proposes norms for aggregators of loan products

Deccan Chronicle

FALAKNAAZ SYED Mumbai, April 26 The Reserve Bank of India on Friday said that lending service providers, acting as agents of banks, should provide a digital view of all the loan offers available with them to the borrower to help them make an informed decision. The central bank said that it has observed that many of the LSPs offer aggregation …

Rbi Lenders Shall Borrower Lsp Loan Products Loan Offer

8 months, 3 weeks ago

Secured Creditor Registered With CERSAI Will Have Precedence Over VAT Authorities Against Proceeds Of Enforcement: Bombay HC

Live Law

The Bombay High Court recently clarified that in a sale of a mortgaged asset, where the mortgage in favour of a secured creditor is registered prior in time with CERSAI, and the MVAT Authorities too have a charge, the proceeds of the enforcement of the mortgage would first go towards discharging the dues owed to the secured creditor. Colabawalla observed …

Security Assets Charge Registered Act Bench Vat

10 months ago

Bank Cannot Be Held Responsible For Illegal Activities Conducted By Borrower In Mortgaged Premises: Supreme Court

Live Law

The Supreme Court, while setting aside the impugned order passed by the NGT, Delhi, held that a Bank cannot be held responsible for illegal activities carried out by the borrower in mortgaged premises. “…we are unable to subscribe to the reasoning and view of the National Green Tribunal, Principal Bench, New Delhi in the impugned judgment, which holds that the …

Activities Supreme Court Court Bank Illegal Activities Tribunal Illegal

10 months, 3 weeks ago

NCLT Kolkata: Simultaneous CIRP Can Be Initiated Against Principal Borrower And Corporate Guarantor

Live Law

The National Company Law Tribunal Kolkata comprising Smt. NCLT Verdict: The NCLT Kolkata admitted the CIRP application and held that a simultaneous CIRP can be initiated against Principal Borrower and Corporate Guarantor under IBC. In cases where the corporate person had offered guarantee in respect of loan transaction, the right of the financial creditor to initiate action against such entity …

Law Kolkata Corporate Financial Corporate Debtor Indian Tribunal

11 months, 1 week ago

SARFAESI Act | Right Of Redemption Cannot Be Taken Away By Insufficient Notice: Allahabad High Court

Live Law

The Allahabad High Court has held that right of redemption under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 is an important right which cannot be taken away or breached by the authorities by insufficient notice. While observing that it is settled law that service of notice upon the borrower is mandatory under Rule …

Court Bank Interest Redemption Auction Right Rules

1 year ago

Moneylenders try to ‘obstruct’ funeral of borrower’s father

The Hindu

In a shocking incident, some errant private moneylenders allegedly tried to obstruct the last rites of the father of a borrower in a bid to exert pressure on the latter to repay the loan with interest in Metpalli town of Jagtial district on December 17. According to sources, the borrower, a resident of Chaitanya Nagar, was unable to clear the …

His Father Borrower

1 year, 2 months ago

SARFAESI Act | As per Unamended S.13(8), Borrower Has Right To Redeem Available Till Sale Certificate Is Registered & Possession Is Handed Over : Supreme Court

Live Law

The Supreme Court, while deciding an appeal, settled the issue of right of redemption of a mortgaged property by a borrower under the unamended Section 13 of the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002. The Bench comprising of Justices Vikram Nath and Rajesh Bindal clearly held that as per the unamended Section 13 …

Supreme Court Property Court Sale Bank Auction Right

1 year, 2 months ago

Home loan interest rate spikes to 8.5%: RBI takes measures to protect the interest of loan borrowers. Details here

Live Mint

Home loan interest rates have increased from around 6.5% to 8.5% in the last two years. At the time of interest rate change, the borrower to choose whether to increase EMI or loan tenor: Earlier, whenever the interest rates on home loans went up, banks increased the loan tenor. The framework will require the bank to inform the borrower at …

Bank Documents Loan Interest Rbi Banks Borrowers

1 year, 3 months ago

Revolving Line of Credit vs Traditional Loans: What’s the difference?

Live Mint

Loans and revolving lines of credit are two different ways that individuals and businesses borrow money from lenders. A term loan on the other hand is a non-revolving line of credit, which means the borrower has access to the entire funds only at one time and subsequently pays the principal and interest as per the monthly payment schedule. This type …

Credit Loan Interest Line Revolving Traditional Loan Revolving Line

1 year, 3 months ago

RBI has said that banks and NBFCs will have to release property documents withing 30 days of repayment of a loan

Op India

In a big relief for borrowers, the Reserve Bank of India informed that banks and Non-Banking Financial Corporations have to release documents of properties and collateral mandatorily within 30 days of settling a loan. * Have to remove encumberance within 30 days, and return docs * Docs can be returned from any branch, not just home branch of customer * …

Property Documents Loan Rbi Banks Release 30 Days

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Articles for Borrower

Allahabad High Court Quashes Criminal, ED Proceedings Initiated Against Indiabulls & Its Officials

Disbursement Of Non Fund-Based Facilities Cannot Be Refused By Lenders When Resolution Plan Contains Clause For Disbursement: NCLAT

Contempt Power Is Not Only For Violation Of Express Orders; Applies To Any Act Intended To Frustrate Judicial Process : Supreme Court

Navigating Intersection Of Anti-Money Laundering And Recovery Laws: The Imperative For Collaboration And Cooperation

Application U/S 95 Cannot Be Rejected On Grounds Of Pendency Of One Time Settlement Proposal: NCLAT

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

NCLT Allows Personal Guarantor to Classify Account as NPA During Moratorium Period

£5bn in new loans handed to older mortgage borrowers in second quarter of 2024

MFI Risks Rise with Overleveraging in Bihar, UP

Freetrade rolls out share lending feature: What is it and how does it work?

Corporate Guarantor Can't Be Absolved From Its Liability Only Due To Non-Invocation Of Guarantee: NCLAT Delhi

Man, two cousins held for murdering borrower

Man, two cousins held for murdering borrower

NCLT Kochi: Creditors Can't Initiate Insolvency Proceedings Against Personal Guarantor Without Establishing Independent Default By CD

RBI proposes norms for aggregators of loan products

Secured Creditor Registered With CERSAI Will Have Precedence Over VAT Authorities Against Proceeds Of Enforcement: Bombay HC

Bank Cannot Be Held Responsible For Illegal Activities Conducted By Borrower In Mortgaged Premises: Supreme Court

NCLT Kolkata: Simultaneous CIRP Can Be Initiated Against Principal Borrower And Corporate Guarantor

SARFAESI Act | Right Of Redemption Cannot Be Taken Away By Insufficient Notice: Allahabad High Court

Moneylenders try to ‘obstruct’ funeral of borrower’s father

SARFAESI Act | As per Unamended S.13(8), Borrower Has Right To Redeem Available Till Sale Certificate Is Registered & Possession Is Handed Over : Supreme Court

Home loan interest rate spikes to 8.5%: RBI takes measures to protect the interest of loan borrowers. Details here

Revolving Line of Credit vs Traditional Loans: What’s the difference?

RBI has said that banks and NBFCs will have to release property documents withing 30 days of repayment of a loan