Banking
Sarfaesi S. 17 – Limitation – Interim stay by High Court. [ 2022 PLRonline 0606 (SC)]
Sarfaesi S. 17 - 17 – DRT dismissed the application under Section 17 having being filed after the prescribed 45-day limitation...
Read moreSarfaesi S. 13(2) – Notice to legal heirs – S. 13(4) – whether personal service is necessary in addition to affixation | 2010 PLRonline 0102
Sarfaesi S. S. 13(2) - Whether the notice under sub-section (2) of Section 13 should be issued to the legal...
Read moreSarfaesi – Dead person – The proceeding conducted against a dead person is bad in law – LRs of borrowers/respondent not brought on record – Notice to one LR is not notice to all. (2013 PLRonline 0110 – DRAT)
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Dead person - Sale - ....
Read moreSarfaesi – Proceedings against a dead person – Bad in law. 2021 PLRonline 5302
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Dead person - Sale - ....
Read moreCrPC S. 482 – Sarfaesi – Discretion has been conferred on the High Court to pass the interim orders in exceptional cases for not taking coercive steps against the accused pending the proceedings, particularly when the proceedings under the SARFAESI Act were initiated against the borrowers. [PLRonline update]
CrPC S. 482 - Sarfaesi - Discretion has been conferred on the High Court to pass the interim orders in...
Read moreSole proprietorship – Is one that is run by a natural person – There is no legal distinction between the owner and the business entity – It is the owner who is in control of all the elements of the proprietorship. [PLRonline]
Status of an individual vis-a-visa ‘sole proprietorship’. “10 Legal position in this regard is settled. The phrase Sole Proprietorship is...
Read moreBanking – Foreclosure / pre-payment charges – Sole proprietor – Although the loan was sanctioned in the name of a sole proprietorship firm, the natural person owning the sole proprietorship firm is liable – In law, therefore, the bank sanctioned credit facility to a natural person, albeit in the name of the sole proprietorship firm owned by such natural person – bank not entitled to such charges . [PLRonline]
“Reserve Bank of India by its circular dated May 7, 2014 dealt with the levy of foreclosure charges/prepayment penalty on...
Read moreBanking – Loan agreement – Contract – Handwritten terms – Hand-written lines in clause 10 of the Letter of arrangement incorporated entitling to take over charges – Documents in the original agreement never contained the same – Bank not entitled to charges. [PLRonline 33013]
The documents which were supplied by Bank at the time of renewal and the documents downloaded from e-mail, did not...
Read moreHire purchase – Repossession – Purchaser remains merely a trustee/bailee on behalf of the financier/financial institution and ownership remains with the latter – Thus, in case the vehicle is seized by the financier, no criminal action can be taken against him as he is re-possessing the goods owned by him. [PLRonline #1324501]
Hire purchase - In an agreement of hire purchase, the purchaser remains merely a trustee/bailee on behalf of the...
Read moreIBC S. 97- 100 – Personal Insolvency
Dilip B. Jiwrajka v. Union of India , 2023 PLRonline 9005 (SC) 2023-PLRonline-9005Download
Read moreSARFAESI S. 13(4) – Writ – NBFC – Writ does not lie against a private NBFC – SARFAESI Act – Alternate remedy .[ID# 443601]
SARFAESI Act, S. 13(4) – Writ - NBFC - Writ petition filed seeking relief qua respondent-institution, which is admittedly a...
Read more[SC] Sarfaesi S. 13(4), 14 – Sale certificate stood issued under Sarfaesi prior to declaration of moratorium in petition filed under Section 9 of the IBC – Properties cannot be treated to be liquidation assets of the CD – IBC , S. 9. [PLRonline 470684]
Sarfaesi S. 13(4), 14 - Sale of property under Sarfaesi prior to declaration of moratorium in petition filed under Section...
Read more[SC] Sarfaesi S. 14 – Confirmation of sale – Sale certificate – Registration Act, 1908 only required the authorised officer of the bank to hand over the duly validated sale certificate with a copy forwarded to the registering authorities.[PLRonline #5410402]
Registration Act, 1908, Section 17(2) (xii) read with Section 89(4)- Securitisation and Reconstruction of Financial Assets and Enforcement of Security...
Read moreIBC S. 9 – Operational Creditor not having filed their claims before the RP and the resolution plan having already been approved and CIRP terminated, claims which did not constitute part of the resolution plan stood extinguished. [2023 PLRonline 0125 (NCLAT)]
2023 PLRonline 0125 (NCLAT) National Company Law Appellate Tribunal Chairperson, Member (Technical) Bharat Pipe Fitting Co....
Read moreSarfaesi S. 14 – Complaint u/s 340 CrPC against authorised officer before DM – Complaint before District Magistrate under Section 340 Cr.P.C. against the authorised officer for concealing material facts – Maintaianble. [(2023-4) PLR 001 ]
Authorized officer of secured creditor in his affidavit before District Magistrate, under Section 14 of the SARFAESI Act, concealed the...
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