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The jurisdiction of Civil Court is excluded in matters that can be determined by the Debts Recovery Tribunal (DRT) or the Debts Recovery Appellate Tribunal (DRAT) under the SARFAESI Act, except in limited cases of alleged fraud or absurd and untenable claims by the secured creditor.
In the present case, an appeal was filed against the order of the Calcutta High Court. The dispute involves Punjab & Sind Bank (the appellant) and Frontline Corporation Ltd. (the respondent) over a property in Kolkata. The bank was a tenant in the property and had mortgaged it to the respondent. Due...
Punjab and Sind Bank v. Frontline Corporation Limited
April 18, 2023
REED 2023 SC 04202
In the instant case, it is not disputed that three drafts were issued by an NRI from Malaysia for the purchase of three flats. Out of three, one draft was for the sum of Rs. 5 lakhs dated 28.06.1996 and two drafts were for Rs. 3 lakhs & Rs. 6 lakhs dated 18.11.1996. It is also not disputed that the two drafts in question were issued in the name of “D-Cube Construction” and not in the name of “D-Cube Constructions (P) Ltd.” The Current Account No. 3600 was in the name of “D-Cube Constructions (P) Ltd.”, whereas the Current Account No. 4160 was opened on 15.02.1997 in the name of ...
The Chairman & Managing Director, City Union Bank Limited and Another v. R. Chandramohan
March 27, 2023
REED 2023 SC 03003
The complaint failed to establish "entrustment" and "dishonest misappropriation", essential elements for an offense under Section 406 IPC, and thus the proceedings were quashed.
In this high court judgment, a revision was filed to quash proceedings related to a complaint filed under Section 406 of the Indian Penal Code, 1860. The complaint alleged that a company, petitioner no.1, had cheated the complainant by not repaying a sum of Rs. 4,13,182 after a business agreement.
The petitioner argued that they had a long-standing business relationship with the complainant and had alr...
Medica Hospitals Private Limited v. The State of West Bengal and Others
June 22, 2023
REED 2023 Cal 06021
The appellant's claim for protection against possession by the respondent-Financial Institution was dismissed as the sale deed clearly transferred ownership to respondents 2 and 3, and the appellant's remedies for redressal were available through civil and criminal actions.
In the present case, the Debts Recovery Appellate Tribunal (DRAT) issued an order in response to Appeal No. 120/2023. The appeal arose from an impugned order dated 28.03.5023 passed by the Presiding Officer, DRT-I, Delhi. The impugned order dealt with a securitization application filed by the appellant, chal...
Sameer Khullar v. Cholamandalam Investment and Finance Company Limited
