ऋणादान न० ऋणमादीयते यत्र । स्मृत्युक्ते अष्टादशविवा- दान्तर्गते व्यवहारभेदे “तेषामाद्यमृणादानमित्यादीनि अष्टादश व्यवहारपदानि मनुना दर्शितानि । तल्लक्ष- णादि नारदादिवाक्येन मिता० दर्शितं यथा “अधुनाष्टादशानां व्यवहारपदानामाद्यमृणादानपदं दर्शयति । “अशीतिभागो वृद्धिः स्यादित्यादिना मोच्य आधिस्तदुत्पन्ने प्रविष्टे द्विगुणे […]
The remedy to a borrower who received possession notice u/s 13(4) SARFAESI Act is to file an appeal to Debts Recovery Tribunal within 45 days
DELHI HIGH COURT SINGLE BENCH ( Before : Dr. S. Muralidhar, J ) SOMNATH MANOCHA — Appellant Vs. PUNJAB AND SIND BANK AND OTHERS — Respondent Writ Petition (C) 7228 of 2005 […]
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 […]
KEYWORDS:-DRT PROCEEDING-guarantor of loan- sale certificate- DATE:-March 06, 2018 “The appellant, is however, entitled to a refund of his deposit of Rs 7,00,000 with interest at 9% per annum from the date […]
Keywords:- DRT-SARFAESI Act Explained Court must have good and sufficient reason to bypass the alternative remedy provided by statute AIR 2010 SC 3413 : (2010) 7 SCALE 696 : (2010) 8 SCC […]
It is true that the rule of exhaustion of alternative remedy is a rule of discretion and not one of compulsion, but it is difficult to fathom any reason why the High Court should entertain a petition filed under Article 226 of the Constitution and pass interim order ignoring the fact that the petitioner can avail effective alternative remedy by filing application, appeal, revision, etc. and the particular legislation contains a detailed mechanism for redressal of his grievance.
Keywords: Bank Credit-on demand-Bank Loan-period of limitation This Court itself had indicated that ‘live account’ means an account that is not settled. The use of the term ‘settled’ gives an indication that […]