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Articles for Borrower, search results for bank

Application U/S 95 Cannot Be Rejected On Grounds Of Pendency Of One Time Settlement Proposal: NCLAT
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
NCLT Allows Personal Guarantor to Classify Account as NPA During Moratorium Period
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
Corporate Guarantor Can't Be Absolved From Its Liability Only Due To Non-Invocation Of Guarantee: NCLAT Delhi
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
RBI proposes norms for aggregators of loan products
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
Bank Cannot Be Held Responsible For Illegal Activities Conducted By Borrower In Mortgaged Premises: Supreme Court
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
SARFAESI Act | Right Of Redemption Cannot Be Taken Away By Insufficient Notice: Allahabad High Court
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
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
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
RBI has said that banks and NBFCs will have to release property documents withing 30 days of repayment of a loan
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
What is Asian Infrastructure Investment Bank? India, its largest borrower, accused of Chinese influence
1 year, 6 months ago

What is Asian Infrastructure Investment Bank? India, its largest borrower, accused of Chinese influence

Hindustan Times  

The Asian Infrastructure Investment Bank is under scrutiny after its Canadian communications chief resigned over what he called China's undue influence in the multilateral organisation. Concerns Critics led by the United States worried that the AIIB would set much lower standards for projects that would undermine principles of social, environmental and economic sustainability adhered to by other lenders. There were …

India China Bank Chinese Beijing Members Aiib
SARFAESI Auction Can't Be Stayed Just Because Sale Agreement Holder Offered To Pay Dues, When Borrower Hasn't Invoked S.13(8) : Supreme Court
1 year, 7 months ago

SARFAESI Auction Can't Be Stayed Just Because Sale Agreement Holder Offered To Pay Dues, When Borrower Hasn't Invoked S.13(8) : Supreme Court

Live Law  

The Supreme Court has held that a writ petition under Article 226 of the Constitution of India is not maintainable against action taken by Bank under Section 13 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, since an alternative statutory remedy exists under Section 17 of SARFAESI Act. Since the Borrower in the …

India Supreme Court Court Sale Bank Pay Writ
SARFAESI | Bank Can't Forfeit Deposit Made After Auction Purchase When Bidder Wasn't Informed Of Challenge Pending Against Sale : Supreme Court
1 year, 8 months ago

SARFAESI | Bank Can't Forfeit Deposit Made After Auction Purchase When Bidder Wasn't Informed Of Challenge Pending Against Sale : Supreme Court

Live Law  

The Supreme Court has granted relief to an auction purchaser by directing the refund of the deposit made by him, which was forfeited by the bank by invoking Rule 9 of Security Interest Rules, 2002.Rule 9 enables the bank to forfeit the deposit amount on default of the auction purchaser to deposit the balance bid amount within the stipulated time. …

High Court Recovery Court Bank Auction Rules High
Merely Because The Borrower Is An MSME, It Would Not Be Governed By The Arbitral Mechanism Provided Under MSMED Act: Gujarat High Court
1 year, 9 months ago

Merely Because The Borrower Is An MSME, It Would Not Be Governed By The Arbitral Mechanism Provided Under MSMED Act: Gujarat High Court

Live Law  

The Gujarat High Court has ruled that merely because the borrower is an MSME, it would not be governed by the provisions of the Micro, Small and Medium Enterprises Development Act, 2006, including the arbitral mechanism envisaged under the said Act. The bench of Justice Biren Vaishnav observed that though, as per the mechanism provided under the MSMED Act, the …

Arbitration Court Bank Loan High Respondent Mechanism
Are You A Digital Lending App User? Know Your Rights, Complaint Process
1 year, 11 months ago

Are You A Digital Lending App User? Know Your Rights, Complaint Process

News 18  

Last year the Reserve Bank of India issued guidelines on digital lending to protect customers from a range of issues including exorbitant interest rates by certain entities, data protection and grievance redressal. – REs shall ensure that they and the LSPs engaged by them shall have a suitable nodal grievance redressal officer to deal with Fintech/digital lending related complaints. – …

Digital Loan App Complaint Rbi Grievance Lending
No Borrower Has Right To Grant Of One Time Settlement Scheme: Telangana High Court
2 years ago

No Borrower Has Right To Grant Of One Time Settlement Scheme: Telangana High Court

Live Law  

The Telangana High Court relying on decision of Apex Court in Bijnor Urban Cooperative Bank Limited, Bijnor v. Meenal Agarwal, ruled that Banks have the freedom to accept or reject One-Time Settlement proposals as per their commercial wisdom. "No bank can be compelled to accept a lesser amount under the One Time Settlement scheme despite a bank is able to …

Court Settlement Bank Scheme Petitioner Ots One Time Settlement
Metro Bank assures over borrower resilience as it cheers returning to profit
2 years, 1 month ago

Metro Bank assures over borrower resilience as it cheers returning to profit

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 High street lender Metro Bank …

Bank Metro Sign Metro Bank
'Not Manifestly Arbitrary': Delhi High Court Upholds Constitutional Validity Of Chapter II Of SARFAESI Act
2 years, 2 months ago

'Not Manifestly Arbitrary': Delhi High Court Upholds Constitutional Validity Of Chapter II Of SARFAESI Act

Live Law  

The Delhi High Court has upheld the constitutional validity of Chapter II of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 observing that it is not manifestly arbitrary and is not in violation of Article 14 of the Constitution of India.A division bench of Chief Justice Satish Chandra Sharma and Justice Subramoniuam Prasad passed. …

Court Reconstruction Delhi High Court Rbi Act Chapter Delhi High
Bank Cannot Backout From OTS Offer After It Is Accepted By Borrower: Madhya Pradesh High Court
2 years, 3 months ago

Bank Cannot Backout From OTS Offer After It Is Accepted By Borrower: Madhya Pradesh High Court

Live Law  

The Madhya Pradesh High Court recently held that a Bank cannot backout from implementing the One Time Settlement offer it had proposed, after it was accepted by the borrower. Calling such an action by the Bank as arbitrary and unreasonable, Justice Sanjay Dwivedi observed- In the case at hand, the petitioner being a guarantor had mortgaged his personal property and …

Court Bank Offer Petitioner Ots Ots Offer
Writ Court Cannot Examine Transactions Between Bank & Borrower As They Are Essentially Contractual In Nature: Karnataka High Court
2 years, 4 months ago

Writ Court Cannot Examine Transactions Between Bank & Borrower As They Are Essentially Contractual In Nature: Karnataka High Court

Live Law  

The Karnataka High Court has said that writ courts neither have means nor the expertise to re-evaluate the "prudential decisions" of the Banks that are made in the ordinary course of their commercial transactions with accumulated wisdom in the trade. Further it said, "Credit facilities have been recalled at once reveals that the transaction has the overtones of commercial elements; …

Court Bank Judicial Review Writ Rbi Bench Contra
DHFL bank-fraud case: CBI arrests Ajay Ramesh Nawandar, businessman and close aide of Chhota Shakeel
2 years, 5 months ago

DHFL bank-fraud case: CBI arrests Ajay Ramesh Nawandar, businessman and close aide of Chhota Shakeel

India TV News  

Highlights CBI arrested businessman from Mumbai, alleged aide of Dawood's close associate Chhota Shakeel The arrest took place in connection with Rs 34,615-crore alleged DHFL bank-fraud case Last week, CBI recovered a large number of uber-luxury watches worth crores of rupees from accused DHFL bank-fraud case: Central Bureau of Investigation arrested businessman Ajay Ramesh Nawandar from Mumbai, an alleged aide …

Mumbai Case Crore Cbi Private Alleged Entities
Under 'Right Of Subrogation' Guarantor Is Entitled To Initiate CIRP Against Principal Borrower: NCLT Kolkata
2 years, 5 months ago

Under 'Right Of Subrogation' Guarantor Is Entitled To Initiate CIRP Against Principal Borrower: NCLT Kolkata

Live Law  

The National Company Law Tribunal, Kolkata Bench, comprising of Shri Rohit Kapoor and Shri Harish Chander Suri, while adjudicating a petition filed in Orbit Towers Pvt. However, the Corporate Debtor failed to do so and the Financial Creditor paid Rs.8,45,19,907/- to the Indian Bank in capacity of a Corporate Guarantor. The Financial Creditor filed a petition under Section 7 of …

Kolkata Financial Rights Corporate Debtor Indian Right Nclt
HDFC raises lending rate by 5 basis points, EMI to rise for existing borrower
2 years, 7 months ago

HDFC raises lending rate by 5 basis points, EMI to rise for existing borrower

Firstpost  

Interest rates are expected to harden in the coming months as global inflationary fears have been stoked due to geopolitical tensions New Delhi: Mortgage lender HDFC Ltd on Sunday raised its benchmark lending rate by 5 basis points, a move that will increase EMI for existing borrowers. “HDFC increases its Retail Prime Lending Rate on Housing loans, on which its …

Emi Hdfc Lending Rate 5 Basis Points
Deep haircuts: Comparing realisations with outstanding loans not reasonable to assess IBC effectiveness, says RBI DG
2 years, 7 months ago

Deep haircuts: Comparing realisations with outstanding loans not reasonable to assess IBC effectiveness, says RBI DG

The Hindu  

Comparing outstanding loan amounts with the value realised may not be a 'reasonable indicator' to assess the bankruptcy law's effectiveness, said Reserve Bank Deputy Governor M. Rajeshwar Rao, while seeking to address concerns over deep haircuts that banks had taken in some of the insolvency resolutions plans. "Rather, the resolution values must be compared with the next best alternative for …

Value Rao Creditors Ibc Videocon Insolvency Resolution Concerns Mr
Microfinance lenders should not charge usurious rates of interest, RBI says in revised norms for the sector
2 years, 9 months ago

Microfinance lenders should not charge usurious rates of interest, RBI says in revised norms for the sector

The Hindu  

The Reserve Bank of India on Monday allowed microfinance institutions the freedom to set interest rates they charge borrowers, with a caveat that the rates should not be usurious. As per the revised norms, regulated entities should put in place a board-approved policy regarding pricing of microfinance loans, a ceiling on interest rate and all other charges applicable to microfinance …

Charge Loans Interest Rate Rbi Interest Rate Shall
Bank Can't Be Directed By Writ Of Mandamus To Grant 'One-Time Settlement' Benefit To Borrower : Supreme Court
3 years ago

Bank Can't Be Directed By Writ Of Mandamus To Grant 'One-Time Settlement' Benefit To Borrower : Supreme Court

Live Law  

No writ of mandamus can be issued by the High Court in exercise of powers under Article 226 of the Constitution of India, directing a financial institution/bank to positively grant the benefit of One Time Settlement Scheme to a borrower, the Supreme Court has held in a judgment delivered on Wednesday.The bench comprising Justices MR Shah and BV Nagarathna observed …

Supreme Court Court Settlement Bank Writ Loan Shah