Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002—Sections 13 and 17—Enforcement of security interest—Jurisdiction of DRT with regard to post 13(4) events—DRT is entitled to question the action taken by secured creditor and transactions...
SARFAESI ACT
17. Section 17 of the SARFAESI Act reads as under: “17. Right to appeal.–(1) Any person (including borrower) aggrieved by any of the measures referred to in sub-section (4) of Section 13 taken by the secured creditor or his...
The SARFAESI Act was intended to provide an additional remedy to a financial institution to recover its debts. The Statement of Objects and Reasons of the SARFAESI Act acknowledged that the existing legal framework relating to commercial transactions has...
Section 17(1) of the SARFAESI Act provides as under: “17 (1) Any person (including borrower), aggrieved by any of the measures referred to in sub-section (4) of section 13 taken by the secured creditor or his authorised officer under...
It is a settled position of law that once tenancy is created, a tenant can be evicted only after following the due process of law, as prescribed under the provisions of the Rent Control Act. A tenant cannot be...
Liability of the surety is co-extensive with that of the principal debtor if the latter liability is scaled down the liability of the surety will accordingly stand reduced or even extinguished. The principle in so far as this aspect...
The Debts Recovery Tribunal has an authority even to invalidate or nullify any action already taken if it is established that any error or wrongful use of the powers has been established before it, invoking u/s 17 of the...
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