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Guarantors of Sole Proprietorship Firms Cannot Invoke Interim Moratorium Under Section 96 to Stall SARFAESI Proceedings
The Madhya Pradesh High Court held that guarantors of sole proprietorship firms cannot invoke the interim moratorium under Section 96 of...
Jul 23 min read
High Court Rules Interim Moratorium Under IBC Inapplicable to Guarantors of Sole Proprietorship Firms
The High Court ruled that the interim moratorium under the Insolvency and Bankruptcy Code (IBC) is inapplicable to guarantors of sole...
Jul 13 min read
Bombay High Court: MSME Director Lacks Locus to Challenge Recovery; SARFAESI and IBC Actions Stand Despite Revival Framework Claims
The Bombay High Court held that the director of an MSME lacks the legal locus to challenge recovery actions and upheld the proceedings...
Jun 283 min read
Mandatory Pre-Deposit Upheld: DRAT Rejects Waiver Plea for Lack of Prima Facie Case and Financial Hardship
The DRAT upheld the requirement of mandatory pre-deposit under Section 18(1) of the SARFAESI Act, rejecting the appellants’ plea for...
Jun 193 min read
Bank’s Recovery Right Under RDB Act Overrides State’s Charge Under VAT Act; High Court Enforces Section 31-B
The Andhra Pradesh High Court, by invoking Section 31-B of the RDB Act, held that the Bank’s right of recovery takes precedence over the...
Jun 193 min read
Secured Creditors’ Priority Upheld: Gujarat High Court Rules Crown Debts Subordinate to SARFAESI Charge in Mutation Disputes
The Gujarat High Court upheld the priority of secured creditors under the SARFAESI Act, ruling that Crown debts are subordinate and...
Jun 184 min read
High Court Slams Bank’s Arbitrary Reversal of Auction Sale; Orders Compensation to Auction Purchaser
The High Court condemned the Bank’s arbitrary and unlawful reversal of a concluded auction sale and directed it to compensate the auction...
Jun 142 min read
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...
Jun 102 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...
Jun 53 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
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