LATEST NEWS ON BANKRUPTCY LAW

If the Secured Creditor takes action under SARFAESI Act, it would not bar the arbitration proceeding

Nov 24, 2022

SC deprecate the practice of entertaining writs by High Courts without exhausting alternative remedy

Nov 23, 2022

Prayer seeking reference of disputes to arbitration when it is subject matter of DRT is misconceived

Nov 21, 2022

RBI announces premature redemption of Sovereign Gold Bond 2017-18 Series VIII due on 19 November '22

Nov 21, 2022

Bombay HC stays Centre's Notification limiting jurisdiction of cases above Rs 100 Crores to 3 DRTs

Nov 20, 2022

RBI assigns Lead Bank responsibility for the formation of new districts in the state of Nagaland

Nov 19, 2022

Seller is bound to disclose any material defect in the property of which the buyer is not aware

Nov 19, 2022

Reserve Bank of India Governor meets Public and Private Sector Banks' MDs and CEOs

Nov 17, 2022

NCLAT Delhi finds the non-speaking order of AA is a violation of the principle of natural justice

Nov 17, 2022

MOST VIEWED

Sep 4, 2021

Supreme Court to Canara Bank: Go after big fish if concerned about NPAs

The Supreme Court remarked on Tuesday that instead of pursuing tiny loans of a few thousand rupees, public sector banks should...

Dec 22, 2020

Govt. extends suspension of IBC till March 2021

The suspension of Insolvency and Bankruptcy Code, 2016 (IBC) has been extended for another three months. Finance Minister Nirmala...

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ARTICLES

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Aug 27, 2021

Irretrievable prejudice would be done if bank guarantee is allowed to be encashed

A Bank Guarantee (BG) is a common method of securing payment of money in commercial transactions because the beneficiary is entitled to receive the entire amount under th...

REEDLAW

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Aug 17, 2021

Strengthening rights of banks as secured creditors

A secured creditor is defined as a creditor in whose favour a security interest is created under section 3(30) of the IBC. Under section 3(31) of the Code, the phrase "Se...

REEDLAW

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Aug 22, 2021

Can the bank take borrower’s assets if it has defaulted on a personal loan?

What happens if a borrower fails to repay a personal loan? In the case of a secured loan, such as a home or vehicle loan, the lender has the right to seize the collateral...

REEDLAW

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Jul 29, 2021

Comprehensive understanding of 'shell companies'

Shell corporations or Shell companies are entities that do not have active business operations but are set up to achieve specific business goals such as lowering tax liab...

REEDLAW

LATEST CASE LAWS

Supreme Court

High Court

DRAT

Ratio decidendi:
Civil Court has jurisdiction to try a suit filed by a borrower against a bank or financial institution....

Bank of Rajasthan Limited v. VCK Shares and Stock Broking Services Limited

November 10, 2022

REED 2022 SC 11207

Presumption under Section 139 of the Negotiable Instruments Act, 1881, includes a presumption that there exists a legally enforceable debt or liability. However, the presumption under Section 139 of the N.I. Act is rebuttable and it is open to the accused to raise a defence wherein the existence of a legally enforceable debt or liability can be contested. The Supreme Court bench noted that the Appellant was entitled to the benefit of presumption under Section 139 of the N.I. Act. Thereupon, the High Court will consider the evidence and the material on record to decide whether th...

Jain P. Jose v. Santosh and Another

November 10, 2022

REED 2022 SC 11008

The present appeal has been preferred against the order of acquittal passed by the learned Additional Sessions Judge, in connection with Criminal Appeal, wherein the Appellate Court reversed the order of conviction and sentence passed by the learned Judicial Magistrate under Section 138 of the Negotiable Instruments Act, 1881.
Facts:
The complainant/appellant filed a complaint before the learned ACJM alleging commission of offence punishable under Section 138 of the Negotiable Instruments Act against the accused/respondent. The allegations made in the petition of complaint were ...

Subrata Bose v. Mithu Ghosh

November 7, 2022

REED 2022 Cal 11003

In the present case the Application was filed to condone delay of 424 days in preferring the Appeal against Order of DRT-I, Chennai.
Main reasons assigned for delay of 424 days can be divided into two parts; first part was prior to COVID-19 pandemic, and second part was after COVID-19 pandemic. From date of receipt of Order to date of filing Appeal, if the period was divided into two parts, roughly 224 days will fall under first category i.e., prior to COVID-19 pandemic, and around 200 days would fall under the second category, i.e. after COVID-19 pandemic. If there was sufficie...

Canara Bank v. Coromandel Indag Products India Limited and Others

October 19, 2022

REED 2022 DRAT Chen 10209

LATEST CIRCULARS & NOTIFICATIONS

Insolvency and Bankruptcy Board of India

Circular No. IBBI/IP/55/2022

November 9, 2022

Circular

Insolvency and Bankruptcy Board of India

Circular No. IBBI/IPA/54/2022

November 2, 2022

Circular

Insolvency and Bankruptcy Board of India

Notification No. IBBI/2022-23/GN/REG101

October 31, 2022

Notification

Insolvency and Bankruptcy Board of India

Order No. IBBI/DC/133/2022

October 12, 2022

Order

DRT REPORTER

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