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High Court Recalls Direction to Pay Interest on Auction Deposit Upon Disclosure of Suppressed Facts; Holds Remedy Lies Before DRT
The High Court recalled its earlier direction to pay interest on the auction deposit upon discovering that material facts had been...
1 day ago2 min read
Bombay High Court: Mortgage of Leasehold Industrial Property Without MIDC Consent Not Void; MIDC Lacks Power to Impose Subletting Charges
Bombay High Court held that the mortgage of leasehold industrial property without the prior consent of MIDC was not void, and further...
6 days ago3 min read
Supreme Court Upholds Mandatory Statutory Arbitration u/s 11 SARFAESI Act for Inter-Creditor Disputes Involving Priority of Charge Between Banks on the Same Secured Asset
The Supreme Court has upheld mandatory statutory arbitration under Section 11 of the SARFAESI Act for inter-creditor disputes involving...
May 293 min read
High Court Quashes Unreasoned DRT Order; Emphasises Judicial Application of Mind, Urges Finance Ministry to Consider Officer Training
The High Court quashed an unreasoned order passed by the DRT, emphasised the necessity of judicial application of mind, and urged the...
May 252 min read
Department of Financial Services (DFS) organises a colloquium of Chairpersons of Debts Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs)
Various key initiatives taken by the Department highlighted at the colloquium, such as the adoption of revised DRT Regulations, mandatory...
May 251 min read
Secured Creditors Have No Priority Over MPID Attachments: Supreme Court Affirms Limits of Article 142 Powers
The Supreme Court held that secured creditors have no priority over properties attached under the MPID Act and reaffirmed that its powers...
May 213 min read
Reinitiation of SARFAESI Proceedings Not a Valid Ground to Claim Refund of Forfeited Earnest Money under Rule 9(5)
High Court held that the reinitiation of SARFAESI proceedings by the bank does not constitute a valid ground to seek refund of forfeited...
May 113 min read
NCLAT Cannot Declare Registered Sale Deed as Non-binding in Absence of Title Transfer through Registered Conveyance or Suit for Specific Performance
The Supreme Court held that the NCLAT could not have declared the registered sale deed as non-binding on the company in the absence of a...
Apr 173 min read
Wilful Defaulter Classification Must Adhere to Principles of Natural Justice – High Court Strikes Down Arbitrary Declaration Based on a Discredited Audit Report
The High Court ruled that the classification of a wilful defaulter must adhere to the principles of natural justice and struck down the...
Apr 24 min read
Chandigarh DRT Presiding Officer Challenges Suspension Extension in Delhi High Court, Cites Unjust Harassment
Mr. M.M. Dhonchak, Presiding Officer of Debts Recovery Tribunal (DRT)-2, Chandigarh, has filed an appeal before the Division Bench of the...
Mar 312 min read
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