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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
'11 DRTs Have No Presiding Officers': Supreme Court Seeks Union's Response On PIL To Fill Up Vacancies
1 month ago

'11 DRTs Have No Presiding Officers': Supreme Court Seeks Union's Response On PIL To Fill Up Vacancies

Live Law  

The Supreme Court today sought a response from the Union of India in a Public Interest Litigation seeking filling of pending appointments of Presiding Officers in the Debt Recovery Tribunals. As per the plea, out of 39 Debts Recovery Tribunals in the Country, nearly one third- 11 DRTs are without Presiding Officers as of September 30. Issue a writ in …

Charge Drt Drts 11 Drts Presiding Officers
When Can High Courts Entertain Writ Petition Under Article 226 Despite Existence Of Statutory Remedies? Supreme Court Explains
8 months, 1 week 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 | Effect & Operation Of Any Interim Order Passed Is Wiped Out At The Passing Of Final Order: Allahabad High Court
8 months, 3 weeks ago

DRT | Effect & Operation Of Any Interim Order Passed Is Wiped Out At The Passing Of Final Order: Allahabad High Court

Live Law  

The Allahabad High Court held that the effect and operation of any interim order passed is wiped out at the passing of the final order. The bench comprising Justice Piyush Agrawal held that “once an appeal was dismissed as withdrawn, the interim order, if any, passed thereon automatically merges with the final order.” The Court relied on State of U.P. …

Appeal Recovery Court Bank Order Auction Tribunal
IBC | Doctrine Of Election Can't Prevent Financial Creditor From Initiating CIRP Against Corporate Debtor: Supreme Court
1 year, 2 months ago

IBC | Doctrine Of Election Can't Prevent Financial Creditor From Initiating CIRP Against Corporate Debtor: Supreme Court

Live Law  

The Supreme Court has held that the 'Doctrine of Election' cannot be applied to prevent a Financial Creditor from approaching the National Company Law Tribunal for initiation of Corporate Insolvency Resolution Process against a Corporate Debtor, under the Insolvency and Bankruptcy Code, 2016. As such, the holder of such certificate would be entitled to initiate CIRP, if initiated within a …

Supreme Court Corporate Financial Recovery Court Election Corporate Debtor
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
Section 16-B Of Himachal Pradesh General Sales Tax Act Is Not Ultra Vires Any Provision Of Law: Supreme Court Reiterates
1 year, 7 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
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
Borrower Has To Pre-deposit 50% Of Which Amount In Appeal Before DRAT U/S 18 SARFAESI Act? Supreme Court Explains
1 year, 11 months ago

Borrower Has To Pre-deposit 50% Of Which Amount In Appeal Before DRAT U/S 18 SARFAESI Act? Supreme Court Explains

Live Law  

While calculating the amount to be deposited as predeposit under Section 18 of the SARFAESI Act, 50% of which amount the borrower is required to deposit as pre-deposit? The bench of Justices M R Shah and B V Nagarathna held as follows: Whatever amount is mentioned in the notice under Section 13 of the SARFAESI Act, in case steps taken …

Supreme Court Appeal Court Sale Assets Debt Case
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
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
Allegations Levelled Against Secured Creditors Can Always Be Examined By DRT Headed By Judicial Officer Of Same Level As A District Judge: Punjab & Haryana High Court
2 years, 4 months ago

Allegations Levelled Against Secured Creditors Can Always Be Examined By DRT Headed By Judicial Officer Of Same Level As A District Judge: Punjab & Haryana High Court

Live Law  

Punjab and Haryana High Court recently held that allegations levelled against the secured creditors can be examined by the DRT and where there is an express bar to the jurisdiction of Civil Court, the same cannot be permitted by alleging fraud played by the secured creditors. The allegations levelled against the secured creditors can always be examined by the DRT …

Court Level Civil Court Creditors Section 17 Secured Drt
Supreme Court Requests High Courts To Entertain SARFAESI, Bank Recovery Matters Under Writ Jurisdiction In View Of DRT/DRAT Vacancies
3 years 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 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
'Litigants In Distress' : Supreme Court Deprecates Centre's Practice Of Giving Additional Charge To DRT Of One State Over Another State Due To Unfilled Vacancies
3 years, 3 months ago

'Litigants In Distress' : Supreme Court Deprecates Centre's Practice Of Giving Additional Charge To DRT Of One State Over Another State Due To Unfilled Vacancies

Live Law  

The Supreme Court on Wednesday expressed disapproval of the Centre's practice of extending jurisdiction of Debts Recovery Tribunal of one state to another state due to unfilled vacancy of Presiding Officer.A special bench comprising the Chief Justice of India NV Ramana, Justice DY Chandhrachud and Justice L Nageswara Rao was hearing a petition filed by the State Bar Council of …

Justice Kerala Supreme Court Court Bar Kerala High Court Lucknow
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
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
Can DRT Condone Delay In Filing Application Under Section 17 SARFAESI Act? Supreme Court To Examine
3 years, 8 months ago

Can DRT Condone Delay In Filing Application Under Section 17 SARFAESI Act? Supreme Court To Examine

Live Law  

The Supreme Court has issued notice on a special leave petition which raises the issue whether the Debts Recovery Tribunal has the power to condone the delay in filing an application under Section 17 of the Securitization and Reconstruction of Financial Assets and Reinforcement of Security Interest Act 2002.The petition was filed against a judgment of the Kerala High Court …

Supreme Court Court Power Application Delay High Supreme
Disputes Which Are To Be Adjudicated By DRTs Are Not Arbitrable: Supreme Court Overrules 2012 Delhi HC Judgment
4 years ago

Disputes Which Are To Be Adjudicated By DRTs Are Not Arbitrable: Supreme Court Overrules 2012 Delhi HC Judgment

Live Law  

Overruling a Full Bench decision of Delhi High Court, the Supreme Court has observed that the disputes which are to be adjudicated by the Debt Recovery Tribunal under the DRT Act are non-arbitrable.To hold that the claims of banks and financial institutions covered under the DRT Act are arbitrable would deprive and deny these institutions of the specific rights including …

Supreme Court Arbitration Judgment Recovery Court Rights Financial Institutions
Landlord-Tenant Disputes Under Transfer Of Property Act Arbitrable Except When Covered By Rent Control Laws : Supreme Court
4 years ago

Landlord-Tenant Disputes Under Transfer Of Property Act Arbitrable Except When Covered By Rent Control Laws : Supreme Court

Live Law  

In a landmark judgment delivered on Monday, the Supreme Court overruled its 2017 judgment in Himangni Enterprises case to hold that landlord-tenant disputes are arbitrable except when they are covered by specific forum created by rent control laws. In a landmark judgment delivered on Monday, the Supreme Court overruled its 2017 judgment into hold that landlord-tenant disputes are arbitrable except …

Supreme Court Arbitration Property Court Rights Control Transfer