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Borrower’s Right to Redeem Extinguished Post-Sale Notice; Auction Validity Upheld, Contempt for Obstructing Court’s Order
The Supreme Court held that the borrower's right to redeem the mortgage was extinguished after the sale notice was issued, upheld the...
Dec 22, 20243 min read
Auction Sale Set Aside for Non-Compliance with Mandatory 30-Day Notice Requirement Under Rules 8(6) and 9(1) of SARFAESI Rules
The DRAT set aside the auction sale for non-compliance with the mandatory 30-day notice requirement under Rules 8(6) and 9(1) of the...
Dec 19, 20244 min read
Applicant Estopped from Challenging Sale Notice Under SARFAESI Act Following Dismissal of Previous Application
The DRT held that the Applicant was estopped from challenging the Sale Notice under the SARFAESI Act, following the dismissal of the...
Dec 18, 20242 min read
Ex-Parte Recovery Order Passed in Favour of Bank with Reduction in Penal Interest and Capping of Future Interest at 9% Per Annum
DRT passed an ex-parte recovery order in favour of the Bank, reducing the penal interest and capping the future interest at 9% per annum....
Dec 18, 20242 min read
Right of Redemption Under Section 13(8) of SARFAESI Act Limited to Mortgagor; Third-Party Possession Insufficient to Challenge Secured Creditor’s Measures
DRAT held that the right of redemption under Section 13(8) of the SARFAESI Act is limited to the mortgagor, and a third party in...
Dec 17, 20243 min read
Procedural Fairness and Enforceability of Personal Guarantee Document Amid Pending Insolvency Proceedings
The DRT examined the procedural fairness and enforceability of a personal guarantee document in light of pending insolvency proceedings...
Dec 15, 20243 min read
Non-filing of Written Statement Not Enough for Counter-claim Success - Review Limited to Errors Apparent on Record
The DRAT held that the non-filing of a written statement by SBI did not automatically entitle the counter-claim to succeed and emphasized...
Dec 13, 20243 min read
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
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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