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Articles for Drt, search results for filed

Delhi HC upholds extension of DRT Chandigarh presiding officer’s suspension
1 week, 1 day ago

Delhi HC upholds extension of DRT Chandigarh presiding officer’s suspension

Hindustan Times  

The Delhi high court has dismissed a writ petition filed by MM Dhonchak, a retired judicial officer and former presiding officer of the Debts Recovery Tribunal -II, Chandigarh, challenging the extension of his suspension for an additional 180 days. In May 2023, the Supreme Court had rebuked Dhonchak for challenging adverse remarks made by the high court, claiming “harm to …

Court Drt Dhonchak
Courts Have No Power To Extend Prescribed Period Of Limitation On Grounds Of Equity And Justice: Karnataka High Court
2 weeks, 3 days ago

Courts Have No Power To Extend Prescribed Period Of Limitation On Grounds Of Equity And Justice: Karnataka High Court

Live Law  

The Karnataka High Court has said that Law of Limitation may harshly affect a particular party; but it has to be applied with all its rigour when the statute so prescribes. A division bench of Justice Krishna S Dixit and Justice G Basavaraja observed thus while dismissing a petition filed by one Kailasam P challenging the order of the Debt …

Power Application Limitation Delay Tribunal Act Kar
Initiation Of Recovery Proceedings Before DRT Does Not Preclude Financial Creditor From Filing Application U/S 7 Of IBC: NCLAT
1 month, 3 weeks ago

Initiation Of Recovery Proceedings Before DRT Does Not Preclude Financial Creditor From Filing Application U/S 7 Of IBC: NCLAT

Live Law  

The NCLAT New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that initiation of recovery proceedings before the DRT does not prohibit financial creditors from filing an application under section 7 of the code. Both banks also filed applications under section 7 of the code separately out of which the application of the …

Central Bank Application Order Auction Filed Irp Appellant
Unjustified For Bank To Proceed Against Property Based On Prior Settled Mortgage, When No New Mortgage Was Created: Kerala High Court
3 months, 1 week ago

Unjustified For Bank To Proceed Against Property Based On Prior Settled Mortgage, When No New Mortgage Was Created: Kerala High Court

Live Law  

The Kerala High Court has observed that it was not appropriate to proceed against the property of a guarantor who has not created mortgage over the property as collateral, merely because the guarantor had previously acted as a surety in another mortgage that has already been settled. In the case before the high court, the petitioner company mortgaged its property …

Property Court Title Bank His Property Ker Petitioner
DRT issues summons to Wadhawans for recovery of ₹846.63-crore bank loan
6 months, 3 weeks 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
Consumer Commission Has No Jurisdiction To Entertain Matters Coming Under Purview Of SARFAESI Act: Orissa High Court
8 months, 1 week 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
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
11 months 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
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
S.17 SARFAESI Act | Applications Filed Beyond 45-Day Limit Not Barred From Seeking Condontation Of Delay Under Limitation Act: MP High Court
1 year, 1 month 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
Keep off civil disputes, HC tells police inspector again
1 year, 2 months ago

Keep off civil disputes, HC tells police inspector again

Deccan Chronicle  

Hyderabad: The Telangana High Court has reiterated its directions to police officials to refrain from entertaining any civil dispute plea. Justice C.V. Bhaskar Reddy directed the station house officer, Karimnagar Rural, and his subordinate officers not to interfere in civil disputes in a writ petition filed by Syed Moin. Cops silent despite HC order In a contrasting matter, Justice C.V. …

Petition Petitioner Drt Civil Disputes
SARFAESI Act | Orders Passed In Interim Application Appealable U/S 18; Cannot Invoke Supervisory Jurisdiction U/Art 227: Kerala High Court
1 year, 4 months ago

SARFAESI Act | Orders Passed In Interim Application Appealable U/S 18; Cannot Invoke Supervisory Jurisdiction U/Art 227: Kerala High Court

Live Law  

The Kerala High Court recently held that an order passed in an interim application is appealable before the Appellate Tribunal, under Section 18 of the SARFAESI Act.It thus proceeded to declare that Article 227 of the Constitution cannot be invoked by the High Court, when the Tribunal had considered the matter before it in the proper perspective. Justice K. The …

Constitution Court Bank Kerala High Court Application Order Tribunal
Challenge To Recovery Notice U/S 13(2) SARFAESI Act Lies Before DRT And Not Civil Court, Unless Plaint Alleges Fraud: Bombay High Court
1 year, 8 months ago

Challenge To Recovery Notice U/S 13(2) SARFAESI Act Lies Before DRT And Not Civil Court, Unless Plaint Alleges Fraud: Bombay High Court

Live Law  

The Bombay High Court recently held that once a secured creditor issues demand notice under section 13 of the SARFAESI Act, 2002, the civil court’s jurisdiction is barred, and any challenge to the notice comes under the domain of the Debts Recovery Tribunal. Justice MS Jawalkar rejected a borrower’s civil suit alleging that the bank violated Guidelines on Fair Practices …

Jurisdiction Fraud Recovery Bank Loan Notice Rbi
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, 10 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
Section 16-B Of Himachal Pradesh General Sales Tax Act Is Not Ultra Vires Any Provision Of Law: Supreme Court Reiterates
1 year, 10 months ago

Section 16-B Of Himachal Pradesh General Sales Tax Act Is Not Ultra Vires Any Provision Of Law: Supreme Court Reiterates

Live Law  

The Supreme Court has ruled that Section 16-B of the Himachal Pradesh General Sales Tax Act, 1968 is not ultra vires any provision of law. The court further remarked that the State cannot resort to the provisions of the Himachal Pradesh Land Revenue Act, 1954 for recovering sales tax dues as arrears of land revenue by creating a charge on …

Law Constitution Property Court Ultra Vires State High
Court Has No Jurisdiction To Review Order Passed Under Section 11 of A&C Act: Delhi High Court
2 years, 2 months ago

Court Has No Jurisdiction To Review Order Passed Under Section 11 of A&C Act: Delhi High Court

Live Law  

The Delhi High Court has reiterated that orders passed in an application filed under Section 11 of the Arbitration and Conciliation Act, 1996 cannot be reviewed since there is no provision of review contained in the A&C Act. The petitioner- M/s Diamond Entertainment Technologies, filed a review petition against the order of the Delhi High Court passed in an application …

Delhi High Court High Respondent Act Petitioner Section 11 Sarfaesi Act
Recovery Certificate Under Debt Recovery Act Is Not Limited To Winding Up Proceedings Only But Extends To IBC: Clarifies Supreme Court
2 years, 5 months ago

Recovery Certificate Under Debt Recovery Act Is Not Limited To Winding Up Proceedings Only But Extends To IBC: Clarifies Supreme Court

Live Law  

Recently, the Supreme Court in the case of Kotak Mahinda Bank Limited vs A. Balakrishnan & another has held that any liability arising out of a recovery certificate needs to be treated as financial debt within vis-à-vis clause of Section 5 of the Insolvency and Bankruptcy Code, 2016 and the holder of recovery certificate would be a financial creditor within …

Supreme Court Court Proceedings Legislature Supreme Act Limited
OTS Proposal Is An 'Acknowledgement Of Debt' Under Section 18 Of Limitation Act: NCLAT Delhi
2 years, 7 months ago

OTS Proposal Is An 'Acknowledgement Of Debt' Under Section 18 Of Limitation Act: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Anant Bijay Singh and Ms. Shreesha Merla, while adjudicating an appeal filed in Tejas Khandhar v Bank of Baroda, has held that a One Time Settlement proposal falls within the definition of 'acknowledgement of debt' under Section 18 of the Limitation Act, 1963. Further, the acknowledgment must be …

Corporate Financial Proposal Debt Limitation Act Filed Bench
'Right To Speedy Justice Enshrined Under Article 21': Gujarat High Court Directs Expeditious Appointment Of Presiding Officer At DRT Ahmedabad
2 years, 8 months ago

'Right To Speedy Justice Enshrined Under Article 21': Gujarat High Court Directs Expeditious Appointment Of Presiding Officer At DRT Ahmedabad

Live Law  

Affirming that the right to speedy justice is enshrined under Article 21 of the Constitution, the Gujarat High Court has issued a writ of mandamus directing expeditious appointment of the Presiding Officer in the Debt Recovery Tribunal-I at Ahmedabad.The Bench comprising Chief Justice Aravind Kumar and Justice Ashutosh Shastri allowed the petition filed by an Advocate enrolled in. Affirming that …

Justice Gujarat Officer Gujarat High Court Presiding Drt Speedy Justice
Supreme Court Requests High Courts To Entertain SARFAESI, Bank Recovery Matters Under Writ Jurisdiction In View Of DRT/DRAT Vacancies
3 years, 2 months ago

Supreme Court Requests High Courts To Entertain SARFAESI, Bank Recovery Matters Under Writ Jurisdiction In View Of DRT/DRAT Vacancies

Live Law  

Taking note of the lack of operation of the Debts Recovery Tribunals and the Debt Recovery Appellate Tribunals in many states due to non-filling of vacancies, the Supreme Court on Thursday passed an order requesting the High Courts to entertain applications under the SARFAESI under the writ jurisdiction as an interim measure. "To resolve the problem for the time being, …

Jurisdiction Writ Jurisdiction High Courts Court Tribunals Courts Order
Supreme Court Weekly Round Up- November 22 To November 28, 2021
3 years, 3 months ago

Supreme Court Weekly Round Up- November 22 To November 28, 2021

Live Law  

Arbitrator Cannot Modify Award On An Application Under Section 33 Arbitration Act: Supreme CourtCase name: Gyan Prakash Arya vs Titan Industries Limited Citation: LL 2021 SC 669The Supreme Court observed that an Arbitrator cannot modify an Arbitration award on an application filed under Section 33 of the Arbitration and Conciliation Act. Arbitrator Cannot Modify Award On An Application Under Section …

Delhi Supreme Court Land Use Evidence Gujarat Medical Evidence Haryana
Exclusion Of Advocates From Post Of DRT & DRAT Presiding Officers Challenged; Supreme Court Seeks Centre's Response
3 years, 7 months ago

Exclusion Of Advocates From Post Of DRT & DRAT Presiding Officers Challenged; Supreme Court Seeks Centre's Response

Live Law  

The Supreme Court on Monday sought the Centre's response in a plea challenging the exclusion of Advocates from being eligible for the post of Presiding Officer and Chairman, Debts Recovery Tribunals and Debts Recovery Appellate Tribunals under the Tribunal, Appellate Tribunal and other Authorities Amendment Rules, 2021. A Division Bench comprising Justice L Nageswara Rao and Justice Aniruddha Bose issued …

Supreme Court Court Advocates Tribunals Judicial Tribunal Post
Money Decree/Certificate Of Recovery In Favour Of Financial Creditor Gives Fresh Cause Of Action To Initiate CIRP U/s 7 IBC: Supreme Court
3 years, 7 months ago

Money Decree/Certificate Of Recovery In Favour Of Financial Creditor Gives Fresh Cause Of Action To Initiate CIRP U/s 7 IBC: Supreme Court

Live Law  

The Supreme Court observed that a judgment and/or decree for money in favour of the Financial Creditor, or the issuance of a Certificate of Recovery in its favour, would give rise to a fresh cause of action for the Financial Creditor, to initiate proceedings under Section 7 of the IBC for initiation of the Corporate Insolvency Resolution Process. The court …

Supreme Court Judgment Corporate Financial Recovery Court Limitation
Centre Cannot Give Charge of a Debt Recovery Tribunal of One State to Presiding Officer of Another State: Kerala High Court
3 years, 9 months ago

Centre Cannot Give Charge of a Debt Recovery Tribunal of One State to Presiding Officer of Another State: Kerala High Court

Live Law  

The Division Bench comprising of Chief Justice S Manikumar and Justice Shaji P Chaly ruled that the Centre cannot give the charge of a Debt Recovery Tribunal of one state to the Presiding Officer of another State. The appeal was filed by Kerala Fashion Jewellery, challenging the order issued by a Single Bench of this Court that upheld a notification …

Court Charge Tribunal State Centre Ernakulam Officer
Suits With Basic Relief Of Challenging Decree Passed By DRT Not Maintainable: SC [Read Judgment]
5 years ago

Suits With Basic Relief Of Challenging Decree Passed By DRT Not Maintainable: SC [Read Judgment]

Live Law  

The Supreme Court has observed that the suits with the basic relief of challenging the decree passed by the Debts Recovery Tribunal are not maintainable. The Bank filed applications to reject the plaints in exercise of powers under Order 7 Rule 11 of the Code of Civil Procedure on the ground that considering the provisions of Recovery of Debts due …

Judgment Court Bank Case Filed Suits Passed