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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...
4 hours ago3 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
Banking Laws (Amendment) Bill, 2024: Key Reforms in Nomination, Substantial Interest, and Regulatory Compliance
Parliament has passed the Banking Laws (Amendment) Bill, 2024 , introducing significant reforms in banking regulations. The Rajya Sabha...
Mar 272 min read
Although Non-Adjudicatory, a Chief Judicial Magistrate’s Role Under Section 14 of the SARFAESI Act Mandates Due Application of Mind
The High Court held that although non-adjudicatory, a Chief Judicial Magistrate’s role under Section 14 of the SARFAESI Act mandates due...
Mar 253 min read
IBBI Celebrates International Women’s Day 2025 with Inspiring Deliberations
The Insolvency and Bankruptcy Board of India (IBBI) commemorated International Women’s Day 2025  through a virtual event on March 06,...
Mar 71 min read
Banks Can Initiate Proceedings Under SARFAESI Act If Not a Party to the Resolution Plan
The High Court ruled that banks could initiate proceedings under the SARFAESI Act if they were not a party to the resolution plan. The...
Mar 53 min read
Borrower Not a 'Consumer' If Loan Is for Profit-Making, Complaint Against Bank Not Maintainable
The Supreme Court rules that a borrower is not a 'consumer' if the loan is taken for profit-making purposes, making a complaint against...
Mar 23 min read
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