LATEST NEWS
MOST VIEWED
ARTICLES
Mar 19, 2024
Upholding Financial Rights: A Legal Analysis of Limited Guardianship under the Rights of Persons with Disabilities Act, 2016
The case of Mrs. Mohan V. before the Kerala High Court sheds light on the complex legal issues surrounding the financial protection of individuals with disabilities.
Mrs. Rachna Gupta, Advocate
Mar 12, 2024
Supreme Court's Interpretation on the Forfeiture of Earnest Money in Auction Sale under the SARFAESI Proceedings
The Supreme Court recently addressed appeals concerning the forfeiture of earnest money deposit by a Nationalized Bank in a property auction. The case involved the bank conducting an e-auction of a property and declaring the respondent as the successful bidder. However, the respondent failed to pay the balance amount within the stipulated time, leading to the cancellation of the sale and forfeiture of the earnest money.
REEDLAW
LATEST CASE LAWS
Supreme Court
High Court
NCLAT
In a landmark judgment, the Supreme Court granted leave to appeal, scrutinizing the validity of a ruling by the Allahabad High Court. The High Court's decision, dated 02.07.2018, which dismissed the Writ Petition of the appellants, affirming the rulings of the Debt Recovery Tribunal and the Debt Recovery Appellate Tribunal, came under challenge.
The case revolved around the firm-respondent no.3, which had obtained a loan from respondent no.1-Bank. Upon defaulting, the Bank initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of S...
Govind Kumar Sharma and Another v. Bank of Baroda and Others
April 18, 2024
REEDLAW 2024 SC 04204
The High Court, in a revision application, considered the plea to quash the proceedings in GR No. 803 of 2019, along with the investigative proceedings of Bidhannagar North P.S. Case no. 155/19. The petitioners, officers of IDFC First Bank Limited, were accused under various sections of the Indian Penal Code by the de facto complainant, who operated a Pharmaceutical Distributorship under the name "Puja Enterprise."
The allegations against the petitioners included mental and physical abuse towards the complainant and his wife during a visit to their office. The complainant ass...
Ms. Tanisha Chanda and Others v. The State of West Bengal and Another
April 19, 2024
REEDLAW 2024 Cal 04005
The NCLAT judgment upheld the decision of the National Company Law Tribunal (NCLT), Mumbai Bench-IV, which rejected a Section 7 Application filed by a Financial Creditor. The Appellant, dissatisfied with the rejection of their application, brought the matter to the NCLAT.
The case stemmed from a default by the Corporate Debtor, Cable Corporation of India Limited, in servicing financial debt extended by the Appellant. The default led to the classification of the Corporate Debtor's account as a Non-Performing Asset (NPA) on 04.09.2019. Subsequently, the Appellant filed a Section ...
State Bank of India v. Cable Corporation of India Limited
April 23, 2024
REED 2024 NCLAT Del 04589
DRAT
In the present case, the appellant filed an appeal under Section 18 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) against the judgment dated 27.08.2018 by the DRT, Dehradun. The DRT had partly allowed the securitization application filed by the appellant. The case involved financial assistance granted by the appellant-Bank to respondents 1 to 3, who stood as guarantors, leading to non-performing assets. The appellant initiated proceedings under the SARFAESI Act, including issuing demand notices and poss...
Syndicate Bank and Others v. R.N. Kamboj and Others
