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Substitution of Authorized Officer by District Magistrate under SARFAESI Act Validated by DRAT
DRAT validated the substitution of the authorized officer by the District Magistrate under the SARFAESI Act. The Debts Recovery Appellate...
Dec 13, 20242 min read


Rectification of Typographical Errors in Section 14 Orders is Ministerial and Does Not Render the Magistrate Functus Officio
DRAT held that the rectification of typographical errors in Section 14 orders was ministerial in nature and did not render the Magistrate...
Dec 13, 20243 min read


Commercial Judgment of Financial Creditor Prevails: NCLAT Remands Section 7 Application for Fresh Consideration
NCLAT remanded the Section 7 application for fresh consideration, affirming that the commercial judgment of the Financial Creditor...
Dec 12, 20243 min read


Promise to Repay Time-Barred Debt is Enforceable under Section 25(3) of the Indian Contract Act, Resetting the Limitation Period
The NCLAT held that the promise to repay a time-barred debt was enforceable under Section 25(3) of the Indian Contract Act, resetting the...
Dec 12, 20243 min read


Secured Creditor Must Pay Liquidation Costs Within 90 Days Under Regulation 21-A(2) to Retain Security Interest - NCLAT Upholds Liquidator's Fee Claim
NCLAT held that the secured creditor is required to pay liquidation costs within 90 days under Regulation 21-A(2) to retain its security...
Dec 12, 20243 min read


Non-Payment of Liquidation Costs Leads to Automatic Relinquishment of Security Interest Under IBBI Regulations
NCLAT held that the non-payment of liquidation costs by the Appellant led to the automatic relinquishment of its security interest under...
Dec 11, 20243 min read


NCLAT Affirms NCLT's Jurisdiction to Approve Cancellation of Power of Attorney in Resolution Plan
NCLAT upheld NCLT's jurisdiction to approve the cancellation of the Power of Attorney in the Resolution Plan under the IBC, affirming...
Dec 10, 20243 min read


Adjudicating Authority's Direction to Release Non-Fund Based (NFB) Limits Upheld, Aligning with Approved Resolution Plan and CoC's Commercial Judgment
NCLAT upheld the Adjudicating Authority's direction to release NFB limits, affirming its alignment with the approved Resolution Plan and...
Dec 10, 20243 min read


Registrar of NCLT Cannot Adjudicate Maintainability of Section 95 Petition at Filing Stage; Role Limited to Ministerial Functions
NCLAT held that the Registrar of NCLT could not adjudicate the maintainability of a Section 95 petition at the filing stage, as the role...
Dec 10, 20243 min read


Sanjay Malhotra Appointed as the New RBI Governor
Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI) for a three-year term, beginning December 10,...
Dec 9, 20241 min read
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