SC: Fixed Shares Paid to Association of Persons Members are Taxable as Income, Regardless of Profit  ||  Supreme Court: Wife Pursuing Her Career Cannot be Deemed Cruelty For Hurting Her Husband  ||  Supreme Court: Appeals Must Include Certified Copies of Orders, as E-Filing Alone is Insufficient  ||  Supreme Court: Children Have a Fundamental Right to Receive Education in Their Mother Tongue  ||  Delhi High Court: Employer’s Delhi Head Office Alone Does Not Give Delhi Labour Courts Jurisdiction  ||  Delhi High Court: Labour Courts Cannot Decide Disputed TA/DA Claims under Section 33C(2) of ID Act  ||  J&K&L HC: Rejection of a Representation Does Not Create Fresh Cause of Action in Service Matters  ||  J&K&L HC: Suspension Period Can be Excluded Only For Back Wages and Not For Seniority or Promotion  ||  Supreme Court: SC/ST Act Does Not Apply to Alleged Casteist Abuse Inside a Private House  ||  Supreme Court: Frictionless Relationship Between the Bar and the Bench Strengthens Justice Delivery    

SC: Time Limit Stipulation Mandating DM to Deliver Possession of Secured Asset Only Directory - (06 Nov 2020)

BANKING

Supreme Court has held that time limit stipulation in Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 mandating the District Magistrate to deliver possession of a secured asset, is directory and not mandatory and that the inability to take possession within time limit does not render the District Magistrate Functus Officio.

Tags : SUPREME COURT   DELIVERY OF POSSESSION OF SECURED ASSET  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved