November 2019

SARFAESI—Auction Sale—Confirmation of sale of secured assets by bank- Writ Petition against such an action of Bank is not maintainable

By | November 21st, 2019|SARFEASI|

Comments Off on SARFAESI—Auction Sale—Confirmation of sale of secured assets by bank- Writ Petition against such an action of Bank is not maintainable

SARFAESI—Secured Assets—Proceedings under the SARFAESI Act would hold primacy over any Central or State Legislature attaching the property SARFAESI—Secured Creditor—Right of a secured creditor to realise a secured debt shall have priority over all debts and government dues including revenues, taxes, cesses and rates due to the Central Government, State Government or Local Authority

By | November 15th, 2019|SARFEASI|

Comments Off on SARFAESI—Secured Assets—Proceedings under the SARFAESI Act would hold primacy over any Central or State Legislature attaching the property SARFAESI—Secured Creditor—Right of a secured creditor to realise a secured debt shall have priority over all debts and government dues including revenues, taxes, cesses and rates due to the Central Government, State Government or Local Authority

SARFAESI—Non-Performing Assets—Bank is required to issue notice and provide opportunity to rectify the loan account to the borrower before declaring its account as NPA—In absence of such notice/opportunity all consequential actions taken by bank are liable to be set aside SARFAESI—Non-Performing Assets—An account which has some temporary deficiencies should not be classified as NPA SARFAESI—Mere issuance of notice under S.13(2) does not confer right to borrower to approach Civil Court or DRT

By | November 12th, 2019|SARFEASI|

Comments Off on SARFAESI—Non-Performing Assets—Bank is required to issue notice and provide opportunity to rectify the loan account to the borrower before declaring its account as NPA—In absence of such notice/opportunity all consequential actions taken by bank are liable to be set aside SARFAESI—Non-Performing Assets—An account which has some temporary deficiencies should not be classified as NPA SARFAESI—Mere issuance of notice under S.13(2) does not confer right to borrower to approach Civil Court or DRT

SARFAESI—Demand Notice under S.13(2)~Even if no proceedings are initiated before DRT; jurisdiction of Civil Courts is barred from granting any injunction at this stage also

By | November 11th, 2019|SARFEASI|

Comments Off on SARFAESI—Demand Notice under S.13(2)~Even if no proceedings are initiated before DRT; jurisdiction of Civil Courts is barred from granting any injunction at this stage also

October 2019

September 2019

February 2019

Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, S.14~Physical Possession—Injunction—Stay application-Petitioner claiming to be tenant and the property that has been ordered to be taken possession of—Held; Remedy of the petitioner would lie before Debt Recovery Tribunal and not before Civil Court to save his possession—Since tenant had erroneously approached Civil Court, stay granted to tenant to approach DRT for further relief

By | February 26th, 2019|SARFEASI|

Comments Off on Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, S.14~Physical Possession—Injunction—Stay application-Petitioner claiming to be tenant and the property that has been ordered to be taken possession of—Held; Remedy of the petitioner would lie before Debt Recovery Tribunal and not before Civil Court to save his possession—Since tenant had erroneously approached Civil Court, stay granted to tenant to approach DRT for further relief

December 2018