Dr Mallya is a well-known Indian businessman and former member of the Parliament of India, now living in the UK pursuant to an indefinite leave to remain certificate. He has possessed the certificate since 1992. The petitioners seek to...
DRT
The High Court has not properly appreciated the fact that what was challenged before it was regarding nongrant of any interim relief pending the appeal before the DRAT. Main appeal was yet to be considered by the DRAT on...
Recovery of Debts Due to Banks and Financial Institutions Act, 1993—Section 22(2)(g)—Transfer of suit—Ex parte decree—Notice sent to the old address though new address was available—Advertisement also published in a Hindi daily—Defendants aware of the proceedings before the Civil...
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...
A guarantor or a mortgagor, who has mortgaged its property to secure the repayment of the loan, stands on the same footing as a borrower and if he wants to file an appeal, he must comply with the terms...
The inherent power of a court is in addition to and complementary to the powers expressly conferred under the Code. But that power will not be exercised if its exercise is inconsistent with, or comes into conflict with, any...
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...
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 Decided on : 17-10-2011 Constitution of India,...
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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