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Articles for Drt, search results for 17

DRT May Entertain Plea Against Measures To Recover Secured Debts Beyond Limitation If Satisfied With The Reasons: Gauhati High Court
1 month ago

DRT May Entertain Plea Against Measures To Recover Secured Debts Beyond Limitation If Satisfied With The Reasons: Gauhati High Court

Live Law  

The Gauhati High Court has recently held that the Debt Recovery Tribunal has to dispose of an application under SARFAESI Act made against measures to recover secured debts by any person in accordance with Section 24 of the Recovery of Debts and Bankruptcy Act which applies the provisions of the Limitation Act to tribunal proceedings.For context, Section 24 of the …

Application Limitation Act Limitation Tribunal High Act Measures
Consumer Commission Has No Jurisdiction To Entertain Matters Coming Under Purview Of SARFAESI Act: Orissa High Court
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
S.17 (1A) SARFAESI Act | Jurisdiction Of DRTs Can't Be Solely Decided Based On Location Of Asset: Allahabad High Court Clarifies
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
Easy Access To Justice A Facet Of Right To Life: J&K High Court Allows SARFAESI Actions To Be Challenged Under Article 226 Till Local DRTs Are Established
8 months, 1 week ago

Easy Access To Justice A Facet Of Right To Life: J&K High Court Allows SARFAESI Actions To Be Challenged Under Article 226 Till Local DRTs Are Established

Live Law  

The Jammu and Kashmir High Court, has ruled that the absence of Debt Recovery Tribunals within the Union Territories of Jammu and Kashmir and Ladakh violates the fundamental right to easy access to justice enshrined in Article 21 of the Constitution. “.We would hold that this Court would have jurisdiction to entertain petitions under Article 226 of the Constitution of …

Justice Court Access Kashmir Financial Institutions Petitions Alternative
S.17 SARFAESI Act | Applications Filed Beyond 45-Day Limit Not Barred From Seeking Condontation Of Delay Under Limitation Act: MP High Court
11 months, 1 week ago

S.17 SARFAESI Act | Applications Filed Beyond 45-Day Limit Not Barred From Seeking Condontation Of Delay Under Limitation Act: MP High Court

Live Law  

The Madhya Pradesh High Court recently held that Section 5 of the Limitation Act stipulating condonation of delay would apply in respect of applications under Section 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before the Debt Recovery Tribunal filed beyond the period of 45 days. Taking note of Section 29 of …

Court Application Limitation Act Delay Filed 45 Days Provisions
S.17 SARFAESI Act | Recovery Action May Have Disastrous Consequences For Borrower, DRT Must Pass Interim Order Upon Application Of Mind: Kerala HC
1 year, 6 months ago

S.17 SARFAESI Act | Recovery Action May Have Disastrous Consequences For Borrower, DRT Must Pass Interim Order Upon Application Of Mind: Kerala HC

Live Law  

The Kerala High Court recently held that interim orders passed by the Debts Recovery Tribunal under 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 cannot be issued mechanically and without application of mind. On Maintainability The Court held that in cases where the Tribunal has failed to exercise its jurisdiction properly, requiring …

Failure Jurisdiction Constitution Recovery Court Orders Order
Arbitrator Has No Jurisdiction To Set Aside Sale Notice Issued By Secured Creditor Under Section 13(4) Of SARFAESI Act: Delhi High Court
1 year, 10 months ago

Arbitrator Has No Jurisdiction To Set Aside Sale Notice Issued By Secured Creditor Under Section 13(4) Of SARFAESI Act: Delhi High Court

Live Law  

The Delhi High Court has ruled that the Arbitrator has no jurisdiction to set aside the sale notice issued by the secured creditor under Section 13 of the SARFAESI Act, 2002, seeking to enforce its “security interest”. Since a specific right is vested in a “secured creditor” to enforce a “security interest”, by issuance of a sale notice under Section …

Security Jurisdiction Court Sale Delhi High Court Interest Notice
Borrower Has To Pre-deposit 50% Of Which Amount In Appeal Before DRAT U/S 18 SARFAESI Act? Supreme Court Explains
1 year, 11 months ago

Borrower Has To Pre-deposit 50% Of Which Amount In Appeal Before DRAT U/S 18 SARFAESI Act? Supreme Court Explains

Live Law  

While calculating the amount to be deposited as predeposit under Section 18 of the SARFAESI Act, 50% of which amount the borrower is required to deposit as pre-deposit? The bench of Justices M R Shah and B V Nagarathna held as follows: Whatever amount is mentioned in the notice under Section 13 of the SARFAESI Act, in case steps taken …

Supreme Court Appeal Court Sale Assets Debt Case
Challenge Under Section 17 Of The SARFAESI Act Against Action Taken By Secured Creditor, Would Not Bar Arbitration Proceedings: Delhi High Court
2 years, 1 month ago

Challenge Under Section 17 Of The SARFAESI Act Against Action Taken By Secured Creditor, Would Not Bar Arbitration Proceedings: Delhi High Court

Live Law  

The Delhi High Court has reiterated that arbitration proceedings and proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002 can go hand in hand. The single bench of Justice V. Kameswar Rao held that even if a party intended to take action under Section 17 of the SARFAESI Act by filing a petition …

Arbitration Court Financial Institutions Delhi High Court Bar High Respondent
DRT Cannot Adjudicate Civil Rights Claimed Vis-a-Vis Security Interest Which Are Outside Sec 13/17 SARFAESI : Bombay High Court
3 years, 8 months ago

DRT Cannot Adjudicate Civil Rights Claimed Vis-a-Vis Security Interest Which Are Outside Sec 13/17 SARFAESI : Bombay High Court

Live Law  

A division bench of the Bombay High Court has delivered an elaborate judgment on the issue of the jurisdiction of the civil courts vis-a-vis the Debts Recovery Tribunal with respect to the security interest under the SARFAESI Act.A division bench comprising Justices SB Shurke and Avinash G Gharote was deciding the following question which was referred to in view of …

Security Jurisdiction Property Court Rights Civil Specific Performance
Can DRT Condone Delay In Filing Application Under Section 17 SARFAESI Act? Supreme Court To Examine
3 years, 8 months ago

Can DRT Condone Delay In Filing Application Under Section 17 SARFAESI Act? Supreme Court To Examine

Live Law  

The Supreme Court has issued notice on a special leave petition which raises the issue whether the Debts Recovery Tribunal has the power to condone the delay in filing an application under Section 17 of the Securitization and Reconstruction of Financial Assets and Reinforcement of Security Interest Act 2002.The petition was filed against a judgment of the Kerala High Court …

Supreme Court Court Power Application Delay High Supreme
SARFAESI, Debt Recovery & Banking Laws : Recent Important Decisions
4 years, 5 months ago

SARFAESI, Debt Recovery & Banking Laws : Recent Important Decisions

Live Law  

Telangana State Southern Power Distribution Co. Ltd vs M/S Srigdhaa Beverages Where, as in cases of the E-auction notice in question, the existence of electricity dues, whether quantified or not, has been specifically mentioned as a liability of the purchaser and the sale is on "AS IS WHERE IS, WHATEVER THERE IS AND WITHOUT RECOURSE BASIS", there can be no …

Supreme Court Court Bombay High Court Delhi High Court Order Tribunal State