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. …
The Delhi High Court has directed the Centre to ensure appointment of Recovery Officers in Debt Recovery Tribunals across India without any delay.A Bench of Justices Vipin Sanghi and Jasmeet Singh sought a status report to be filed in this regard on November 17, the next date of hearing, highlighting the progress made so far.The Bench was hearing a plea …
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 …
The Supreme Court on Friday reserved judgment on the plea by the Madras Bar Association challenging the Tribunal Rules of 2020, on the grounds that it is in the teeth of the principles of separation of power and independence of judiciary. "A tenure of three years may be suitable for a retired Judge of High Court or the Supreme Court …
![[2020 Tribunal Rules] AG Defends Exclusion Of Advocates From Appointment To Single-Member Tribunals, SC Reserves Judgment [Read Order]](https://www.livelaw.in/h-upload/2019/11/22/366976-kk-venugopal.jpg)