Banking
Security Interest (Enforcement) Rules 2002 Rule 19(1) – E-auction – Personal service of the e-auction notice on loanee – Rule mandatory.
Mr. Mahesh Dheer, for the petitioners. Mr. Anshuman Harit, for Mr. Arvind Seth, for UOI. Mr. Gaurav Goel, for the...
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NPA – Supreme Court order in (Small Scale Industrial Manufactures Association v. Union of India (UOI) & Ors., (Writ Petition No.476/2020 , decided vide order dated 23.03.2021) – Bank’s contention that in Section 13(2) notice issued on 27.04.2021 for the first time, the loan account was declared as NPA on 30.11.2020 but such a declaration has not been issued during the subsistence of the order of the Supreme Court – There is no violation of the order of the Supreme Court.
NPA - Supreme Court order in (Small Scale Industrial Manufactures Association v. Union of India (UOI) & Ors., (Writ Petition No.476/2020...
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Auction – Interim stay by High Court – Confirmation of sale after 5 years – Corporation failed in its duty in not taking into account the lapse of five years from the date of auction while handing over the possession of the property to the Auction Purchaser – The value of the property has undoubtedly increased during the said period – Auction Purchaser liable to pay interest at the rate of 12% per annum on bid amount for the period from 2013 to 2018.
Financial and Debt Laws – Auction – Bid accepted in 2013 – Confirmation stayed by the High Court in the...
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Constitution of India , Article 226 – ‘error of jurisdiction’ – Discretionary exercise of jurisdiction by the High Courts under Article 226(1) when the contention could be raised and decided by the Tribunal having exclusive jurisdiction
Constitution of India , Article 226 - ‘error of jurisdiction’ - Discretionary exercise of jurisdiction by the High Courts...
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Bank – Loan – Mortgage – “oral assent” – Bank says there is “oral assent” for such extension, to get over the difficulty of not having any registered document evidencing extension – Any internal record of the Bank recording oral assent for such extension for enhancement of the Loan limits does not bind the petitioners being a unilateral document to which they did not subscribe their signatures
Bank – Loan – Mortgage - “oral assent” - Bank says there is “oral assent” for such extension, to get...
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Loan – Mortgage – Can there be an “oral assent” for creation of mortgage?
Bank – Loan – Mortgage - “oral assent” - Bank says there is “oral assent” for such extension, to get...
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[PH] TPA S. 58(f) – For creation of a mortgage by deposit of title deeds the requirements are (a) a debt, (b) a deposit of title deeds, and (c) an intention that the deeds shall be security for the debt
Transfer of Property Act, Section 58(f) - For creation of a mortgage by deposit of title deeds the requirements are...
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Bank – Loan – “attendance register” – Is not evidence of any “oral assent” by petitioners to the extension of equitable mortgage
Bank - Loan - “attendance register” - An “attendance register” can at best only be evidence of attendance of a...
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Sarfaesi – Mortgage – Extention of charge
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), Section 13 – It...
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SARFAESI Act, 2002 – Writ – Almost 15 months after grant of the status quo order by this Court, it would be a travesty of justice to compel the petitioners to avail the alternative remedy before the Debt Recovery Tribunal by invoking Section 17 of the Act
Constitution of India, Article 226 – Almost 15 months after grant of the status quo order by this Court, we...
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[SC] SARFAESI Act – Constitution of India, Art. 226 – Interim injunction – Filing of the writ petitions by the borrowers .
SARFAESI Act – Constituion of India, Art. 226 - Interim injunction - Filing of the writ petitions by the borrowers...
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[SC] SARFAESI Act – Constitution of India, Art. 226 – A writ petition against the private financial institution – ARC – appellant herein under Article 226 of the Constitution of India against the proposed action/actions under Section 13(4) of the SARFAESI Act can be said to be not maintainable
SARFAESI Act – Constitution of India, Art. 226 - A writ petition against the private financial institution – ARC –...
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[SC] Banking – OTS – The grant of benefit of OTS Scheme cannot be prayed as a matter of right
Banking – OTS - The grant of benefit of OTS Scheme cannot be prayed as a matter of right and...
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[SC] Banking – OTS – Such a decision should be left to the commercial wisdom of the bank whose amount is involved and it is always to be presumed that the financial institution/bank shall take a prudent decision whether to grant the benefit or not under the OTS Scheme
Banking - OTS - Commercial wisdom of the bank - The grant of benefit under the OTS is always subject...
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[SC] Banking – OTS – No writ of mandamus can be issued by the High Court in exercise of powers under Article 226 of the Constitution of India, directing a financial institution/bank to positively grant the benefit of OTS to a borrower.
Constitution of India, Art. 226 - Banking - OTS - No writ of mandamus can be issued by the High...
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