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DRAT Invalidates Auction Due to Non-Compliance with 30-Day Notice Requirement Under Rule 8(6) of SARFAESI Act
he DRAT invalidated the auction due to the bank's non-compliance with the 30-day notice requirement under Rule 8(6) of the SARFAESI Act....
Nov 15, 20242 min read


DRAT Affirms Auction Proceedings, Rejecting Ownership and Demarcation Claims for Lack of New Evidence and Clear Boundary Distinctions
The DRAT affirmed the auction proceedings, rejecting the appellant's claims of ownership and improper demarcation due to a lack of new...
Nov 14, 20242 min read


DRAT Affirms Validity of Equitable Mortgage and Lawful SARFAESI Proceedings Despite Borrowers’ Post-Default Objections
The DRAT upheld the validity of the equitable mortgage and the legality of SARFAESI proceedings, dismissing the borrowers' objections...
Nov 14, 20243 min read


Personal Guarantor Held Liable for Outstanding Loan of ₹238.34 Crores Despite Ongoing CIRP Proceedings Against Corporate Guarantor
The personal guarantor was held liable for the outstanding loan of ₹238.34 crores, despite the ongoing Corporate Insolvency Resolution...
Nov 14, 20242 min read


Failure to Serve Auction Notice to Borrower Before Publication Violates Redemption Rights, Renders the Auction Void under the SARFAESI Act
DRT held that the failure to serve the auction notice to the borrower before its publication violated the borrower's right to redeem the...
Nov 13, 20243 min read


Supreme Court Affirms Limited Redemption Rights under SARFAESI Act Post-Auction Notice, Reinforcing Auction Finality and Debt Recovery Mechanisms
The Supreme Court held that the borrowers' right to redeem the mortgage is extinguished upon the publication of the auction notice under...
Nov 13, 20243 min read


IBBI and IBA Launch Centralized eBKray Platform to Enhance Transparency and Recovery in IBC Liquidation Auctions
In a transformative step for asset liquidation under the Insolvency and Bankruptcy Code (IBC), the Insolvency and Bankruptcy Board of...
Nov 5, 20243 min read


Supreme Court Mandates Strict Compliance with MSME Revival Framework Before NPA Classification by Banks
The Supreme Court mandated strict compliance with the MSME revival framework by banks before classifying loan accounts as NPAs. The...
Nov 4, 20242 min read


Strict Enforcement of Protections Against NPA Classification and Recovery Actions by Banks: MSME Borrowers Demand
The National MSME Borrowers Association recently emphasized the urgent need for the enforcement of a 2015 Notification that mandates a...
Nov 4, 20241 min read


Engagement of Research Associates in Law at the Insolvency and Bankruptcy Board of India (IBBI) on a Contract Basis
The Insolvency and Bankruptcy Board of India (IBBI), established under the Insolvency and Bankruptcy Code, 2016, has invited applications...
Oct 19, 20242 min read
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