REEDNews

The Mediation Act 2023 receives the assent of the President

Even though an alternative statutory remedy exists, High Court can still exercise its jurisdiction

'Audi Alteram Partem' in Banking Law Ensures Fairness in Account Classification as Fraud: SC

Secured Creditors' Right to Realise Secured Debts have Priority over Other Debts & Government Dues

RBI approves the voluntary amalgamation of Maratha Sahakari Bank with The Cosmos Cooperative Bank

₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender: RBI

The amount deposited by the auction purchaser cannot be adjusted towards the borrower's pre-deposit

₹ 2,000 Banknotes Withdrawal: RBI Governor Urges Customers Not to Rush to Banks

₹ 2,000 banknotes exclusively be deposited in respective bank accounts: PIL filed in Delhi HC

Controversy Erupts: Central Govt's Ordinance Challenges Supreme Court Ruling on Delhi Admn. Services

Supreme Court welcomes new Judges: Justice Prashant Kumar Mishra & Advocate KV Viswanathan Sworn In

RBI decides to withdraw ₹ 2,000 denomination banknotes from circulation with immediate effect

Surprise Cabinet Reshuffle: Arjun Ram Meghwal replaces Kiren Rijiju as Law Minister

Reserve Bank launches the ‘100 Days 100 Pays’ Campaign for Return of Unclaimed Deposits

Any OTS Proposal which was submitted if it contains acknowledgement, the limitation will be extended

If the bank refuses to extend credit facilities, the borrower has no option but to clear their dues

Hire Purchase transaction in a legal sense is more complex with corresponding rights of the parties

Complainant fails to establish the conditions of penal liability set out under Ss. 405, 420, 471 IPC

Without there being any demand to the Guarantor, the period of limitation cannot be commenced

The jurisdiction of civil court is limited in respect of matters in which a DRT or DRAT is empowered

Bank could not produce any evidence to prove that shows acknowledgement signed by the Appellant

Complainant fails to discharge his burden to prove that there was a deficiency in banking services

NCLAT directs to refund of the amount of preferential transactions made by the Corporate Debtor

Bank cannot forfeit earnest money deposited by the successful bidder if some facts are hidden

Disputes relating to the agreement to sale cannot be examined in a proceeding under the IBC: NCLAT

Every effort to be made to revive the Corporate Debtor, liquidation should be the last resort: NCLAT

IBBI announces final panel of Insolvency Professionals for the period of 1 January to 30 June 2023

NCLAT New Delhi dismisses the appeal filed by the IBBI as it is misconceived and not maintainable

The appellant cannot be convicted as the settlement was nothing but a compounding of the offence: SC

Section 9 Application cannot be accepted if the dispute raised by the CD is not a moonshine dispute

National Company Law Tribunal prescribes Dress Code for the Court's members and practitioners

Any letter by the CD mentioning dues of loan amount has to be treated as an acknowledgement of dues

SC: The defence raised by the appellant satisfies the standard of “preponderance of probability”

There should be a cadre of insolvency professionals so that they are accountable to a body

Insolvency and Bankruptcy Board of India organises an Insolvency Professionals Conclave in Chennai

An approved scheme of merger has statutory force and binding on all stakeholders including creditors

Discretion is vested with the Adjudicating Authority to admit or not admit the section 7 Application

NCLAT Delhi: The initiation of CIRP itself has been found to be tainted and faulty

Removal of a Resolution Professional by the Adjudicating Authority cannot be challenged: NCLAT Delhi

IBBI finalises the panel of Insolvency Professionals for the period of January 1 to June 30, 2023

IBBI announces provisional list of Insolvency Professionals for appointment as IRP, RP & Liquidator

Sec 9 IBC Application to be allowed to continue as it would yield proper insolvency resolution of CD

NCLAT set aside the order of NCLT and directed AA to pass an order of admission of Sec 9 Application

A person cannot be found guilty of offence u/s 138 NI Act, merely being a signatory to the cheque

IBBI provides "Proforma for Reporting the Liquidator’s Decision different from the Advice of SCC

No injunction can be granted by any civil court in respect of any action taken u/s 430 Companies Act

Govt to amend Insolvency & Bankruptcy Code, 2016 to reduce the time taken for the resolution process

Petitioner meets sufficient compliance with Section 21 of Arbitration and Conciliation Act: Delhi HC

e-filing of documents would duly be taken into consideration for the purpose of limitation: Delhi HC

RBI Governor interacts with FinTechs and Industry Associations

The Mediation Act 2023 receives the assent of the President

Even though an alternative statutory remedy exists, High Court can still exercise its jurisdiction

Amount Claimed in the Demand Notice Under SARFAESI Act is relevant for determining the pre-deposit

If the SARFAESI Auction Sale is Not Confirmed, the Forfeiture of the Advance Amount is Not Valid

High Court Prohibits Banks & FIs From Forcefully Seizing Vehicles Without Following Legal Procedures

The auction purchaser is responsible for settling the electricity dues of the previous owner: All HC

'Audi Alteram Partem' in Banking Law Ensures Fairness in Account Classification as Fraud: SC

DRT Order Is Set Aside As No violation of Rule 8(6) & 9(1) Security Interest (E) Rules is discovered

Secured Creditor fails to produce evidence of compliance with Security Interest (E) Rules 8(6), 9(1)

SC Rules Auction Proceedings Conducted by Secured Creditor as Invalid and Orders For a Fresh Auction

SARFAESI Act: A Tenant under a registered lease, cannot be dispossessed by the Bank/Secured Creditor

Petitioner's challenge to the order passed under Section 14 of the SARFAESI Act is not maintainable

RDB Act S.21: Complete Waiver of Pre-Deposit without sufficient reason must be quashed and set aside

High Courts Should Refrain From Interfering in Commercial Matters Governed by the SARFAESI Act: SC

Secured Creditors' Right to Realise Secured Debts have Priority over Other Debts & Government Dues

Granting the benefit of One Time Settlement scheme should be left to the commercial wisdom of bank

Plaintiff's Attempt to File a Civil Suit to Defeat the Proceeding under SARFAESI Act Not Permissible

Appellant as a purchaser had the right to redeem the mortgage and retrieve title deeds from the bank

Declaring the accounts as NPA is unreasonable and in violation of RBI Circulars with statutory force

Sale proceeds from the auction of secured assets cannot be used for Pre-deposit purposes

Provisions of SARFAESI Act bar the jurisdiction of civil court except in cases where claim is absurd

Dismissal of Application under Section 17 of SARFAESI Act at the Preliminary Stage is unjustified

It is necessary to exhaust the statutory remedy at the DRT before filing a writ petition in the HC

Grant of unconditional interim injunction is improper and contrary to the legislative policy: Bom HC

Once a sale certificate is issued, the sale cannot be set aside unless on the ground of fraud

The amount deposited by the auction purchaser cannot be adjusted towards the borrower's pre-deposit

₹ 2,000 Banknotes Withdrawal: RBI Governor Urges Customers Not to Rush to Banks

₹ 2,000 banknotes exclusively be deposited in respective bank accounts: PIL filed in Delhi HC

Controversy Erupts: Central Govt's Ordinance Challenges Supreme Court Ruling on Delhi Admn. Services