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Supreme Court Weekly Round-up: November 18, 2024 To November 24, 2024
4 weeks, 1 day ago

Supreme Court Weekly Round-up: November 18, 2024 To November 24, 2024

Live Law  

Citation Prem Lal Anand and Ors. Case Details: State of Haryana v. Amin Lal through Legal Representatives Citation: 2024 LiveLaw 900 The Supreme Court reiterated that the State cannot claim adverse possession over the property of private citizens. Case Details: Sonu Agnihotri v. Chandra Shekhar and others Citation: 2024 LiveLaw 910 While expunging from a judgment of the Delhi High …

India Karnataka Tamil Nadu Kerala Delhi Supreme Court High Court
Property Of Personal Guarantors Cannot Be Sold Under SARFAESI Act During Moratorium Period U/S 96 Of IBC: NCLT Mumbai
1 month ago

Property Of Personal Guarantors Cannot Be Sold Under SARFAESI Act During Moratorium Period U/S 96 Of IBC: NCLT Mumbai

Live Law  

The NCLT Mumbai bench of Mr. Charanjeet Singh Gulati and Justice Lakshmi Gurung has held that once a petition under section 95 of the IBC is filed, the interim moratorium under section 96 is triggered. Brief Facts This application has been filed by, Raghavendra Joshi under Section 60 r/w Section 60 of the Insolvency and Bankruptcy Code, 2016 read with …

Personal Mumbai Property Sale Bank Application Tribunal
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
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
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
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, 6 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, 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
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
Sanjay Bansal & Anr. v Union of India & Ors : Delhi High Court Urged DRT Delhi To Hear The Case On Merits
2 years, 3 months ago

Sanjay Bansal & Anr. v Union of India & Ors : Delhi High Court Urged DRT Delhi To Hear The Case On Merits

Live Law  

Sanjay Bansal, a litigant, was constrained due to the non-functioning of the Debt Recovery Tribunal- I, New Delhi for several months, and therefore, he invoked the writ jurisdiction of the Delhi High Court. He complained that despite of his legitimately acquired property through a bank auction, Piramal Capital and Housing Finance Limited have issued a possession notice and further approached …

Delhi Court Petitioner Drt Piramal Capital And Housing Finance Limited
Supreme Court Weekly Round Up- November 22 To November 28, 2021
3 years 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, 4 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