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Articles for Drt, search results for proceedings

Courts Or Tribunals Referring Disputes To Lok Adalat Barred From Entertaining Appeals Against Awards Passed In Such Cases: Patna High Court
4 months, 2 weeks ago

Courts Or Tribunals Referring Disputes To Lok Adalat Barred From Entertaining Appeals Against Awards Passed In Such Cases: Patna High Court

Live Law  

The Patna High Court on Tuesday held that it would be impermissible for the courts/tribunals referring a matter for settlement to Lok Adalats to examine the correctness of the award passed by the Lok Adalat. The court said that the referral courts/tribunals would also be barred from entertaining the challenge to the award passed in the Lok Adalat on the …

Court Settlement Bank Courts High Lok Bench
Defaulter Can't Initiate Criminal Proceedings Against Creditor/Auction Purchaser Against Auction Held Under SARFAESI Act, Must Go To DRT: Allahabad High Court
8 months ago

Defaulter Can't Initiate Criminal Proceedings Against Creditor/Auction Purchaser Against Auction Held Under SARFAESI Act, Must Go To DRT: Allahabad High Court

Live Law  

While quashing criminal proceedings against officers of M/s Himri Estate Private Limited and Indiabulls Housing Finance Ltd. initiated by Shipra Group, the Allahabad High Court held that defaulter cannot initiate criminal proceedings against creditor/auction purchaser against the auction conducted under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Criminal proceedings cannot be …

Justice High Court Court Criminal Criminal Proceedings Auction Held
HC Stays DRT Order
1 year, 5 months ago

HC Stays DRT Order

Deccan Chronicle  

Hyderabad: A two-judge bench of the Telangana High Court, comprising acting Chief Justice P. Naveen Rao and Justice Nagesh Bheemapaka, stayed an order passed by the Debt Recovery Tribunal, Hyderabad, for violating principles of natural justice. He asserted in his letter that was addressed to the Chief Justice that the station house officer and others had trespassed into his office …

Justice Hyderabad Recovery Court Natural Justice Order Officer
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 | Bank Can't Forfeit Deposit Made After Auction Purchase When Bidder Wasn't Informed Of Challenge Pending Against Sale : Supreme Court
1 year, 8 months ago

SARFAESI | Bank Can't Forfeit Deposit Made After Auction Purchase When Bidder Wasn't Informed Of Challenge Pending Against Sale : Supreme Court

Live Law  

The Supreme Court has granted relief to an auction purchaser by directing the refund of the deposit made by him, which was forfeited by the bank by invoking Rule 9 of Security Interest Rules, 2002.Rule 9 enables the bank to forfeit the deposit amount on default of the auction purchaser to deposit the balance bid amount within the stipulated time. …

High Court Recovery Court Bank Auction Rules High
Writ Of Certiorari Can Be Issued Even If Lis Is Between Two Private Parties: Calcutta High Court Reiterates
1 year, 10 months ago

Writ Of Certiorari Can Be Issued Even If Lis Is Between Two Private Parties: Calcutta High Court Reiterates

Live Law  

The Calcutta High Court on Thursday issued a writ of certiorari against a private entity on the ground that it has violated the petitioner’s right to a fair hearing. Basappa v. T. Nagappa; AIR 1954 SC 440 to reiterated that the Writ of Certiorari can be issued even if the lis is between two private parties. Besides, cutting an adjudication …

Court Order Petitioner Drt Lis Certiorari
Court Has No Jurisdiction To Review Order Passed Under Section 11 of A&C Act: Delhi High Court
1 year, 11 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
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
Recovery Certificate Under Debt Recovery Act Is Not Limited To Winding Up Proceedings Only But Extends To IBC: Clarifies Supreme Court
2 years, 2 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
S 171 Contract Act - Bank Can't Retain Title Documents After Repayment Of Loan Citing Pendency Of Another Loan : Bombay High Court
2 years, 6 months ago

S 171 Contract Act - Bank Can't Retain Title Documents After Repayment Of Loan Citing Pendency Of Another Loan : Bombay High Court

Live Law  

A bank cannot retain title documents of a borrower's house after repayment of a loan, citing general lien on documents, merely because of pendency of another loan, the Bombay High Court has held. The bench partly-allowed a borrower's writ petition and directed Union Bank of India to handover title documents of his flat despite recovery proceedings, for another unpaid loan …

General Court Bombay High Court Bank Loan Flat Account
'Central Govt Has Shown Scant Regard To Hardships Of Litigants': Kerala High Court On Absence Of DRT Presiding Officer
2 years, 10 months ago

'Central Govt Has Shown Scant Regard To Hardships Of Litigants': Kerala High Court On Absence Of DRT Presiding Officer

Live Law  

The Kerala High Court recently expressed serious concerns regarding the non-availability of the adjudicatory mechanism of Debts Recovery Tribunal in the State for over ten months despite its efforts to kick start its functioning.Justice Bechu Kurian Thomas observed that when the fundamental right to have access to justice is denied due to the absence of Presiding Officers of the forum. …

Kerala Recovery Court Access Title Kerala High Court Tribunals
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, 4 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
DRT Ahmedabad Imposes Cost of Rs. 10K Upon Advocate For Appearing In Virtual Hearing From His Car
4 years, 1 month ago

DRT Ahmedabad Imposes Cost of Rs. 10K Upon Advocate For Appearing In Virtual Hearing From His Car

Live Law  

The Presiding Officer DRT-I Ahmedabad, Vinay Goel on Tuesday imposed a cost of Rs. 10,000 upon Mr. Gori for attending the virtual hearing from his Car" The Court placed reliance upon the Judgment of Gujarat High Court in Misc. The Bar Council of Gujarat and the Bar Association of High Court shall inform the advocates to maintain a dignified decorum …

Video Court Video Conferencing Gujarat Cost Hearing High