Search Results for Tag : sarfaesi

Statute

The present petition has been filed seeking quashing of FIR under Sections 498A/406/34 of Indian Penal Code, 1860 (IPC). The marriage between Petition.....

Tags : Supreme Court, SARFAESI Act, Discretion of Lower Court

Appellate Court would not interfere with the exercise of discretion of the court of first instance except where the discretion has been shown to have been exercised arbitrarily(18.04.2023)

The present appeal assails the judgment and order passed by the Division Bench of the High Court, thereby setting aside the order of the Single Judge,.....

Tags : Supreme Court, SARFAESI Act, Discretion of Lower Court

Company Court to not wield power at winding-up under SARFAESI(29.12.2015)

Provisions of the Companies Act, 1956 in respect of dues of workmen and their protection are incorporated under the Securitisation Act, 2002 and legal.....

Tags : Sarfaesi, companies act, conditions, secured asset

Auction purchaser can challenge the action of forfeiting it’s deposit by secured creditor before DRT(27.11.2017)

The present appeal is filed against the final judgment passed by the Delhi High Court whereby the Division Bench of the High Court had dismissed the a.....

Tags : Alternative Remedy, SARFAESI Act, DRT

Courts should render all aid to the aggrieved party to enable him to derive the full benefits of the order(28.07.2015)

The High Court held that the jurisdiction of the Civil Court did not need to be invoked in order to enforce its order. In a matter where Deccan Chroni.....

Tags : sarfaesi, police, enforce, order, possession

SARFAESI Act is applicable to Cooperative Banks(05.05.2020)

In present case, the question relates to the scope of the legislative field covered by Entry 45 of List I viz. ‘Banking’ and Entry 32 of List II of th.....

Tags : SARFAESI Act, Co-operative banks, Applicability

News

Delhi HC: Proceedings under SARFAESI Act Remain Unaffected by Orders Passed Under SEBI Act 1992(25.07.2023)

Delhi HC has observed that the proceedings under SARFAESI Act, 2002 will remain unaffected by the orders passed under SEBI Act, 1992 as provisions of .....

Tags : Delhi HC, SARFAESI Act, 2002, SEBI Act, 1992

JKL HC: S.34 of SARFAESI Act Created Bar on Grant of Injunction for Actions Taken Under the Act(26.07.2023)

Jammu and Kashmir and Ladakh High Court has held that Section 34 of SARFAESI Act creates a bar and provides that no injunction shall be granted by any.....

Tags : Jammu and Kashmir and Ladakh High Court, SARFAESI, Injunction

There Can Be Simultaneous Proceedings Under SARFAESI & Arbitration Act: Delhi HC(13.12.2017)

Delhi High Court has held that arbitration and SARFAESI proceedings can be resorted to simultaneously for recovery of loan arrears.

Tags : Delhi High Court, SARFAESI

Borrower has No Right of Hearing in Proceedings U/S 14 SARFAESI Act: Karnataka HC(04.12.2018)

Karnataka High Court has held that borrower has no right of hearing in proceedings under Section 14 of the SARFAESI Act and set aside the general dire.....

Tags : Karnataka High Court, SARFAESI Act

Kerala HC Seeks Response from Govt on SARFAESI Proceedings on Loan Accounts(11.09.2020)

Kerala High Court has sought response from the Central Government about the banks' plea seeking permission to continue Securitisation and Reconstructi.....

Tags : Kerala High Court, Loan Accounts, SARFAESI Proceedings

Allahabad High Court Cancels Auction Sale Initiated Under SARFAESI Act As Debtor Was Not Informed(14.02.2017)

Allahabad High Court has quashed proceedings initiated post notice under Section 13(4) of SARFAESI Act, 2002 as said notice was issued without duly in.....

Tags : Allahabad High Court, SARFAESI Act

Secured Creditor Should Mandatorily Consider Debtor’s Representation SARFAESI Act: Supreme Court(21.03.2018)

Supreme Court has held that while recovering secured property from Non-Performing Assets (NPAs), a secured creditor should mandatorily consider the de.....

Tags : Supreme Court, SARFAESI Act

Bombay HC: Secured Creditors Shall Take Priority Over Government Dues Under SARFAESI Act(05.09.2022)

Bombay High Court has held that the rights of secured creditors to realise secured debts shall have priority over government dues, including revenues,.....

Tags : Bombay High Court, SARFAESI Act, Secured Creditors

Ker. HC: Non-Compliance of MSME Framework Doesn’t Nullify NPA Declaration Under SARFAESI(15.09.2023)

Kerala High Court has held that failure to abide by the terms of the notification of 2015 prescribing ‘Framework for Revival and Rehabilitation of Mic.....

Tags : Kerala High Court, MSME Framework, NPA, SARFAESI

Gujarat High Court Refuses to Hear Plea Challenging Validity of S.14 SARFAESI Act(25.08.2021)

Gujarat High Court has refused to entertain a plea challenging the vires of Section 14 of the Securitisation and Reconstruction of Financial Assets an.....

Tags : Gujarat High Court, Validity of S.14 SARFAESI Act

SC: 45 Days Time Limit for Filing Appln Under SARFAESI Act is for Quick Enforcement of Security(12.08.2022)

Supreme Court has held that a time limit of 45 days for filing an application under Section 17 of SARFAESI Act is provided for quick enforcement of th.....

Tags : Supreme Court, SARFAESI, Enforcement, Security

Under SARFAESI Act, Addl DM/Addl CMM Has Judicial Powers Similar To That Of DM/ CMM: Bombay HC(11.01.2018)

Bombay High Court has held that for the purposes of S. 14 of the SARFAESI Act, the District Magistrate or the Chief Metropolitan Magistrate is not a p.....

Tags : Bombay High Court, SARFAESI

SC: Trivial Procedural Lapses Not a Ground to Nullify SARFAESI Proceedings(29.10.2020)

Supreme Court has observed that proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities In.....

Tags : Supreme Court, Ground to Nullify SARFAESI Proceedings

Del HC: Scope of Writ Jurisdiction Cannot be Allowed to Trounce the Statutory Obligation(16.08.2023)

Delhi High Court while observing that scope of writ jurisdiction can’t be allowed to trounce the statutory obligation, on the stratagem of efficacious.....

Tags : Delhi High Court, Writ Jurisdiction, SARFAESI, Recovery Proceedings

SC: Additional Chief Metropolitan/District Magistrate Can Exercise Power U/S 14 of SARFAESI(28.07.2022)

Supreme Court has held that term ‘District Magistrate’ and ‘Chief Metropolitan Magistrate’ as appearing in Section 14 of the SARFAESI Act shall deem t.....

Tags : Supreme Court, SARFAESI, Magistrate

Bombay HC: Jurisdiction of DM Under SARFAESI Act Purely Ministerial in Nature(25.08.2022)

Bombay High Court while observing that jurisdiction of District Magistrate (DM) is limited only to assisting secured creditors in taking possession of.....

Tags : Bombay High Court, SARFAESI, District Magistrate

SC: Right to Redeem Mortgage Extinguishes Once Bank Publishes Auction Notice(22.09.2023)

Supreme Court has held that right of the borrower to redeem the secured asset stands restricted till the date of publication of sale notice under SARF.....

Tags : Supreme Court, SARFAESI, Mortgage, Redeem, Auction Notice

SC: SARFAESI Doesn’t Give Any License to Bank Officers to Act Against the Scheme of Law(22.09.2023)

Supreme Court while observing that SARFAESI Act was enacted for speedy recovery and for benefitting the public at large, has held that it does not giv.....

Tags : Supreme Court, SARFAESI Act, Bank Officers

No Application Can Be Filed Against Taking ‘Symbolic Possession’ Before DRT: Allahabad HC(15.02.2018)

Allahabad High Court has held that taking “symbolic possession” or issuance of possession notice, meeting with any resistance, cannot be treated as “m.....

Tags : Allahabad High Court, SARFAESI Act

Madras High Court Quashes Criminal Defamation Case Against DMK Leader Kanimozhi Karunanidhi(09.11.2021)

Madras High Court has quashed a criminal defamation case filed against DMK leader Kanimozhi Karunanidhi, for allegedly levelling unfounded corruption .....

Tags : Delhi High Court, Uploading of Orders Passed U/S 14 of SARFAESI Act

Delhi High Court Asks CMMs to Ensure Prompt Uploading of Orders Passed U/S 14 of SARFAESI Act(09.11.2021)

Delhi High Court has asked all the Chief Metropolitan Magistrates in city courts to ensure that the orders passed by them under Section 14 of the Secu.....

Tags : Delhi High Court, Uploading of Orders Passed U/S 14 of SARFAESI Act

MP HC Issues Guidelines on S.14 Appln Filed by Secured Creditors under SARFAESI Act(27.11.2023)

Madhya Pradesh High Court while observing that inaction of DM/ADM/ CJMs has resulted in secured creditors rushing to High Court, leading to opening of.....

Tags : Madhya Pradesh High Court, SARFAESI Act, Secured Creditors, Section 14, Guidelines

Cal. HC: DM Can Delegate Powers to Executive Magistrate to Take Possession of Secured Assets(14.09.2022)

Calcutta High Court has held that step taken under Section 14 of SARFAESI Act while taking possession of the secured assets is a ministerial step and .....

Tags : Calcutta High Court, SARFAESI, District Magistrate

Ker. HC: MSMED Act Superseded All Recovery Proceedings by Virtue of Non-Obstante Clause u/s 24(23.10.2023)

Kerala High Court has held that MSMED Act being a subsequent legislation against the SARFAESI Act, the Parliament has purposefully and knowingly super.....

Tags : Kerala High Court, MSMED Act, SARFAESI

Ker. HC: Supervisory Jurisdiction Can’t be Invoked for Appeal Against Order in Interim Application(26.10.2023)

Kerala High Court has held that High Court can’t invoke supervisory jurisdiction under Article 227 in appeal against order by DRT passed in an interim.....

Tags : Kerala High Court, Supervisory Jurisdiction, SARFAESI

AP HC Directs Opening of Hospital Attached Under SARFAESI for COVID-19 Treatment(01.04.2020)

Andhra Pradesh High Court has directed the opening up of a private hospital, which was attached under the Securitisation and Reconstruction of Financi.....

Tags : Andhra Pradesh High Court, Hospital Attached Under SARFAESI

SC: CMM/DM Not Required to Adjudicate Disputes Between Borrower/Third Party & Secured Creditor(27.09.2022)

Supreme Court has held that while considering an application under Section 14 SARFAESI Act, the CMM/DM is not required to adjudicate the dispute betwe.....

Tags : Supreme Court, SARFAESI, CMM/DM

Kar. HC: Bank Can Initiate Criminal Action if A/C Declared Fraud, Even After Invoking SARFAESI Act(04.10.2022)

Karnataka High Court has held that Central Bureau of Investigation (CBI) can investigate complaint registered by a bank against company and its direct.....

Tags : Karnataka High Court, SARFAESI, Criminal Action

Civil Suit Not Maintainable After SARFAESI Proceedings Are Initiated: Supreme Court(08.05.2018)

Supreme Court has reiterated that a civil suit would not be maintainable when proceedings under the Securitisation and Reconstruction of Financial Ass.....

Tags : Supreme Court, SARFAESI Act

Civil Suit Not Maintainable After SARFAESI Proceedings Are Initiated: Supreme Court(09.05.2018)

Supreme Court has reiterated that a civil suit would not be maintainable when proceedings under the Securitisation and Reconstruction of Financial Ass.....

Tags : Supreme Court, SARFAESI Act

Bom. HC: Remedy Under the SARFAESI Act and A&C Act Work in Tandem(27.12.2023)

Bombay High Court while observing that debt owed to financial institutions under SARFAESI is arbitrable, has held that remedy under the SARFAESI Act i.....

Tags : Bombay High Court, SARFAESI, Arbitration

Delhi HC Upholds Constitutional Validity Of Chapter II Of SARFAESI Act(17.10.2022)

Delhi High Court has upheld the constitutional validity of Chapter II of the Securitisation and Reconstruction of Financial Assets and Enforcement of .....

Tags : Delhi High Court, Constitution, SARFAESI

Delhi HC: Initiation Of Proceedings Under SARFAESI Act Does Not Bar Arbitration Of Disputes(20.10.2022)

Delhi High Court has ruled that the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, .....

Tags : Delhi High Court, arbitration, SARFAESI

Delhi HC: SARFAESI Act Can’t be Invoked for Arbitration When Financial Institution is Borrower(08.11.2022)

Delhi High Court has held that Section 11 of SARFAESI Act provides for remedy by arbitration only in cases of inter se dispute between the financial i.....

Tags : Delhi High Court, SARFAESI, Financial Institution

SC Disapproves HC Practice Allowing Pleas in SARFAESI Cases Without Exhausting Alternative Remedy(17.11.2022)

Supreme Court has disapproved the high courts’ practice of entertaining writ petitions filed in SARFAESI matters without exhausting the alternative st.....

Tags : Supreme Court, SARFAESI, Alternative Remedy

SC: Burden to Prove Secured Properties Are Agricultural Lands is Upon Borrower(06.01.2023)

Supreme Court has held that in proceedings under SARFAESI Act, burden is upon the borrower to prove that the secured properties are agricultural lands.....

Tags : Supreme Court, SARFAESI, Borrower, Burden

SC: Dues Under MSMED Act Won’t Prevail Over Proceedings Under SARFAESI Act(06.01.2023)

Supreme Court has held that Dues under Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 would not prevail over the SARFAESI Act.

Tags : Supreme Court, MSMED, SARFAESI, Dues

Ker. HC: Sale Under SARFAESI Won’t Extinguish Prior Existing Charge for Dues Under State Tax Laws(10.01.2023)

Kerala High Court has held that statutory charge created under Kerala General Sales Tax Act, and Kerala VAT Act, prior to any mortgage made, against t.....

Tags : Kerala High Court, State Tax, VAT, SARFAESI

Delhi HC: Invocation of S. 13 SARFAESI Act Results in General Bar to Civil Court Proceedings(03.02.2022)

Delhi High Court has held that invocation of Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Inter.....

Tags : Delhi High Court, Invocation of S. 13 SARFAESI Act

Calcutta HC: Remedy Under SARFAESI Act Subject To Provisions Of Limitation Act(11.07.2017)

Calcutta High Court has ruled that any remedy under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 20.....

Tags : Calcutta High Court, SARFAESI Act

Del. HC: Proceed. Under SARFAESI Act and RDDB Act Can Continue Parallelly as They are Complimentary(18.04.2024)

Delhi HC has held that proceedings under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002(SARFESI).....

Tags : Delhi High Court, SARFAESI, RDDB Act

CJM Can’t Grant Time for Payment of Debt Due to Secured Creditor: Kerala High Court(21.06.2018)

Kerala High Court has held that Chief Judicial Magistrate exercising power under Section 14 of SARFAESI Act, 2002 has no jurisdiction to grant time f.....

Tags : Kerala High Court, SARFAESI Act

Orissa HC: Jurisdiction u/s 14 SARFAESI Act Can be Exercised Either by CJM or DM(25.02.2022)

Orissa High Court has held that jurisdiction under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security.....

Tags : Orissa High Court, Jurisdiction u/s 14 SARFAESI Act

Delhi HC: Arbitrator Can’t Set Aside Sale Notice Issued by Secured Creditor Under SARFAESI Act(23.02.2023)

Delhi High Court has held that matter of a sale notice issued by secured creditor under Section 13(4) of SARFAESI Act is not arbitrable at all, and th.....

Tags : Delhi High Court, SARFAESI, Sale Notice, Arbitrator

MP HC: ?20 Lakh Minimum Threshold for Loan Recovery by NBFCs Not Applicable on HFCs(23.05.2024)

MP HC has held that Housing Finance Companies (HFCs) can invoke the SARFAESI Act, 2002 even when the loan amount is less than ?20 Lakhs and the minimu.....

Tags : MP High Court, SARFAESI Act, 2002, Housing Finance Companies, NBFC

SC Issues Notice to J&K Traders Who Challenged Sarfaesi Act(03.11.2015)

SC on special leave petition challenging judgment of J&K HC, which ruled that Securitization and Reconstruction of Financial Assets and Enforcement of.....

Tags : SC, J&K HC, Sarfaesi Act

SC: Section 16B of HP General Sales Tax Act Not Ultra Vires to Any Provision of Law(01.05.2023)

Supreme Court while setting aside High Court judgment which held that Section 16B of Himachal Pradesh General Sales Tax (HPGST) is ultra vires to Sect.....

Tags : Supreme Court, Himachal Pradesh General Sales Tax, SARFAESI, Ultra Vires

HP HC: Depiction of Property as Agricultural Land Doesn’t Exclude it from Purview of SARFAESI Act(12.05.2023)

Himachal Pradesh High Court has held that merely because revenue records shows secured properties as agricultural land, it is not sufficient to attrac.....

Tags : Himachal Pradesh High Court, SARFAESI Act, Property

Orissa HC: No Jurisdiction on Consumer Commission to Entertain Matters Under SARFAESI Act(03.07.2024)

Orissa High Court has observed that any suit or proceeding which can be entertained by the Debt Recovery Tribunal or the Appellate Tribunal cannot be .....

Tags : Orissa High Court, SARFAESI Act, Debt Recovery Tribunal

Supreme Court Explains Protection from SARFAESI Act not Available to 'Tenant-In-Sufferance'(13.09.2019)

Supreme Court has explained the interplay between laws of tenancy and debt recovery and has ruled that protection from recovery proceedings under the .....

Tags : Supreme Court, SARFAESI Act

Kerala HC: Sale Notice under SARFAESI Act Without a 15 Days Clear Notice to Defaulter is Bad in Law(24.05.2022)

Kerala High Court has ruled that the three methods of serving, affixing and publishing a notice of 15 days for subsequent sales, as provided under Rul.....

Tags : Kerala High Court, Sale Notice, SARFAESI, Mandatory

Allahabad HC to UP Govt.: Ensure Strict Compliance with Section 14 of SARFAESI Act(30.05.2022)

Allahabad High Court has directed State of Uttar Pradesh to issue directions to all the concerned authorities in the State to comply with the provisio.....

Tags : Allahabad High Court, Uttar Pradesh, SARFAESI Act

Ker. HC: Acts Done by Bank Officials While Taking Possession are Protected Under SARFAESI Act(25.05.2023)

Kerala High Court while observing that action taken by the officials of the bank under the SARFAESI Act is neither unquestionable nor treated as sacro.....

Tags : Kerala High Court, Bank Officials, SARFAESI, Prosecution

Calcutta HC: Secured Creditor Cannot Invoke S. 14 of SARFAESI Act After Sale of Secured Asset(04.09.2017)

Calcutta High Court has ruled that a secured creditor cannot maintain an application u/s 14 of Securitization and Reconstruction of Financial Assets a.....

Tags : Calcutta High Court, SARFAESI Act

HP HC: SARFAESI Act Has an Overriding Effect on the Provisions of VAT Act(06.06.2022)

Himachal Pradesh High Court has held that SARFAESI Act and Recovery of Debts and Bankruptcy Act, 1993 have an overriding effect on the provisions of H.....

Tags : Himachal Pradesh High Court, SARFAESI, VAT

SC: HC Can’t Quash Magistrate's Order U/S 14 SARFAESI Act, While Exercising Power U/S 482 CrPC(10.07.2023)

Supreme Court has held that petition filed under Section 482 of CrPC to quash an order passed under Section 14 of the SARFAESI Act is not sustainable,.....

Tags : Supreme Court, SARFAESI, Magistrate's Order, Quash

Gauhati HC: DRT Has to Dispose of Application under Section 17 of SARFAESI Act as per RDB Act(22.11.2024)

Gau. HC has observed that Debt Recovery Tribunal (DRT) is required to dispose of an application filed u/s 17 of SARFAESI Act, 2002 as per provisions o.....

Tags : Gauhati High Court, SARFAESI Act, Debt Recovery Tribunal

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