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Articles for Drt, search results for assets

DRT issues summons to Wadhawans for recovery of ₹846.63-crore bank loan
4 months, 1 week ago

DRT issues summons to Wadhawans for recovery of ₹846.63-crore bank loan

Hindustan Times  

MUMBAI: The Debt Recovery Tribunal, a quasi-judicial body that helps banks and financial institutions recover loans from customers, has issued a public summons to Housing Development and Infrastructure Ltd promoters Rakeshkumar Wadhawan and his son Sarang, in connection with the proceedings initiated by Bank of India for recovery of an outstanding loan amount of ₹846.63 crore from their group firm, …

Bank Tribunal Wadhawan Public Summons
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
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
Initiation Of Proceedings Under The SARFAESI Act Does Not Bar The Arbitration Of Disputes: Delhi High Court
2 years, 2 months ago

Initiation Of Proceedings Under The SARFAESI Act Does Not Bar The Arbitration Of Disputes: Delhi High Court

Live Law  

The Delhi High Court has ruled that the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 provides a remedy in addition to the adjudication under the Arbitration and Conciliation Act, 1996 and hence, initiation of proceedings under the SARFAESI Act does not bar the arbitration of disputes. The petitioners invoked the arbitration …

Arbitration Recovery Court Delhi High Court Bank Bar Disputes
Banks to take Future to debt recovery tribunal
2 years, 9 months ago

Banks to take Future to debt recovery tribunal

Live Mint  

MUMBAI : Lenders to Future Retail Ltd have abandoned plans to sue the company for the unapproved transfer of hundreds of its stores to Reliance Retail, two bankers aware of the plans said, adding that they will enforce their rights through the debt recovery tribunal and bankruptcy tribunal instead. The bankers cited above said procedures to take Future Retail to …

Recovery Assets Debt Recovery Tribunal Company Lenders Reliance Ibc
Fugitive economic offender Vijay Mallya declared bankrupt by London court
3 years, 4 months ago

Fugitive economic offender Vijay Mallya declared bankrupt by London court

Op India  

On July 26, the Insolvency and Companies Court of the London high court declared Indian fugitive and businessman Vijay Mallya bankrupt. In a tweet Mallya said, “ED attach my assets worth 14K crores at behest of Govt Banks against debt of 6.2K crores. They restore assets to Banks who recover 9K crores in cash and retain security over 5K crores …

India London Court Money Indian Assets Bank
Assets worth Rs 18,170 crore of Vijay Mallya, Nirav Modi, Mehul Choksi attached; 80% losses recovered: ED
3 years, 6 months ago

Assets worth Rs 18,170 crore of Vijay Mallya, Nirav Modi, Mehul Choksi attached; 80% losses recovered: ED

India TV News  

The Enforcement Directorate has said that it had transferred a part of the attached or seized assets in cases related to fugitive billionaires Vijay Mallya, Nirav Modi and Mehul Choksi, to state-run banks and the Centre. Of the Rs 18,170.02 crore worth of assets seized, the ED said it has transferred Rs 9,371.17 crore to the government and public sector …

India Mumbai Extradition Assets Public Sector Banks Crore Modi