Banking
[SC] Security Interest (Enforcement) Rules, 2002- R. 9(4) – The period of fifteen days in Rule 9(4) is not that sacrosanct and it is extendable if there is a written agreement between the parties for such extension
Security Interest (Enforcement) Rules, 2002- R. 9(4) - The period of fifteen days in Rule 9(4) is not that sacrosanct...
Read moreCheque – Forgery – It would be no defence to the banker, if the forgery had been that of a clerk of a customer, that the latter had taken the clerk into his service without sufficient inquiry as to his character.
"As the customer and the banker are under a contractual relation in this matter, it appears obvious that in drawing...
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Cheque – Fraud – Forgery – Signatures
"11. "The principle of this case cannot help the respondent before us. If the signatures on the cheque had been...
Read moreBanking – Duties – There is always an element of trust between the bank and its customer. The bank’s business depends upon this trust.
We adopt the reasoning indicated above with great respect. Unless the bank is able to satisfy the Court of either...
Read moreSarfaesi S. 17, 13(4) – The “appeal” under section 17 is available to the borrower against any measure taken under section 13(4) – Taking possession of the secured asset is only one of the measures that can be taken by the secured creditor
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (2002), Ss.17, 14, 13(4) – Appeal against order...
Read moreSarfaesi S .14, 13(4) – Security Interest (Enforcement) Rules , 2002, R.8 – Receiver appointed by the Magistrate is not required to follow Rule 8
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, S .14, 13(4) – Security Interest (Enforcement)...
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Sarfaesi S.13(4), 14, 17 – Possession of secured assets – Direct invocation of S.14 while bypassing measures u/s.13(4) – Permissible
. Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (2002), Ss.13(4), 14, 17 – Possession of...
Read moreSarfaesi S.14, 17 – Constitution of India, Art. 226 – though appeal lies u/s14, however as respondent chose to challenge the decision of the magistrate by invoking the jurisdiction of the High Court under Article 226 and he does not have any substantive objection, in the instant case would not be entitled to avail the remedy under section 17
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (2002), S.14, 17 – Constitution of India, Art.226...
Read moreSarfaesi S. 13(4), 14 – Not mandatory for a secured creditor to first issue a notice under Sec. 13 (4) and then approach the DM/CJM u/s14
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, S.14, – Not mandatory for a secured...
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Sarfaesi S. 14 – Magistrate not obliged to apply his mind to such an affidavit and satisfied that it is necessary to deliver possession of the secured asset
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, S.14, – Law does not oblige the...
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Letter of comfort – Contract of guarantee – Which is undated, without seal and authorization on behalf of the respondent-company, cannot be termed as letter or contract of guarantee
Insolvency and Bankruptcy Code, 2016, S. 7 - Contract Act, S. 126 - Letter of comfort - Contract of guarantee - Which...
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Deed of guarantee – Oral – Although, there is no performa is prescribed for deed of guarantee and even guarantee can be oral as per Section 126 of the Contract Act, but once it is reduced into writing either in the form of letter or contract then it must fulfil all the ingredients of contract of guarantee and should be signed by surety, principal debtor and creditor as well
Contract Act, S. 126 - Evidence Act, 1872, Section 92 - Deed of guarantee - Oral - Although, there is no performa is...
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IBC S. 7 – Limitation – Default
IBC – Limitation – For the law of limitation, the remedy is the goal post and the right is the...
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