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When Can High Courts Entertain Writ Petition Under Article 226 Despite Existence Of Statutory Remedies? Supreme Court Explains
11 months ago

When Can High Courts Entertain Writ Petition Under Article 226 Despite Existence Of Statutory Remedies? Supreme Court Explains

Live Law  

Observing that the High Court should exercise due care and caution while entertaining the petitions under Article 226 of the constitution even when there exists an alternative statutory remedy, the Supreme Court on Wednesday deprecated the High Court's interference in the auction sale proceedings completed by the Bank at the instance of the borrower despite having statutory remedy. Observing that …

Supreme Court Constitution High Courts Court Bank Courts Statutory
DRT Cannot Adjudicate Civil Rights Claimed Vis-a-Vis Security Interest Which Are Outside Sec 13/17 SARFAESI : Bombay High Court
3 years, 11 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
Repay Rs 7,030 crore to PNB: DRT orders Nirav Modi
5 years, 3 months ago

Repay Rs 7,030 crore to PNB: DRT orders Nirav Modi

The Quint  

BY QUAID NAJMI Mumbai, Nov 28 In a fresh development in the Punjab National Bank scam, the Mumbai Debts Recovery Tribunal-I, has ordered absconder diamantaire Nirav Modi and others, and his group companies, to repay the Rs 7,030 crore due to the PNB since the past nearly two years. The DRT-1's diktat of November 22 has also ordered Modi and …

Mumbai Bank Pnb Ians Nirav Nirav Modi Drt
Secured Creditor Can File Winding Up Petition Despite Obtaining Recovery Certificate From DRT: SC [Read Judgment]
6 years, 1 month ago

Secured Creditor Can File Winding Up Petition Despite Obtaining Recovery Certificate From DRT: SC [Read Judgment]

Live Law  

The Supreme Court has held that a secured creditor can file a winding up petition even after obtaining a decree from the Debts Recovery Tribunal and a recovery certificate based thereon. The bench comprising Justice Rohinton Fali Nariman and Justice Navin Sinha dismissed appeals against Bombay High Court judgment that had rejected the contention that once a secured creditor has …

Recovery Court Act Petition Secured Drt Secured Creditor
DRAT Has No Inherent Power To Take Suo Motu Cognizance In Public Interest, Reiterates Delhi HC [Read Order]
6 years, 5 months ago

DRAT Has No Inherent Power To Take Suo Motu Cognizance In Public Interest, Reiterates Delhi HC [Read Order]

Live Law  

The Delhi High Court has expressed “surprise” over the Debts Recovery Appellate Tribunal exercising suo motu powers in public interest despite clear pronouncements of the Supreme Court that it has no such inherent power.A bench of Chief Justice Rajendra Menon and Justice V Kameswar Rao reiterated that the DRAT does not have any inherent power to take suo motu action …

Appeal Court Public Interest Power Order Tribunal State
CBI chief Anil Sinha blasts lenders for Kingfisher Airlines fraud, not filing complaint
9 years ago

CBI chief Anil Sinha blasts lenders for Kingfisher Airlines fraud, not filing complaint

India TV News  

Mumbai: Central Bureau of Investigation today pulled up state run banks for not registering with the investigating agency any complaint against Vijay Mallya-led Kingfisher Airlines and its earlier management despite the company's default of Rs 7,000 crore. Warning that non-payment of loans by big borrowers will erode people's faith in the law, the CBI today blasted lenders for not coming …

Bank Cbi Lenders Sbi Diageo Mallya Drt
SC makes loan recovery tougher for banks, despite having valid collateral
10 years, 4 months ago

SC makes loan recovery tougher for banks, despite having valid collateral

Firstpost  

The Supreme Court has held that the revival of sick units will take precedence over banks’ efforts to recover bad loans by selling the collateral pledged. Banks have more reasons to worry The Supreme Court has done some further damage to the cause of bad loan recoveries by banks in a recent case involving the interpretation of two special laws …

Justice Supreme Court Recovery Court Loan Case Supreme