Category: Corporate

Whether withdrawal of O.A. in terms of the first proviso to Section 19(1) of the DRT Act, 1993 is a condition precedent to taking recourse to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ? NO. Whether ad valorem Court fee prescribed under Rule 7 of the 1993 is payable on an application of the NPA Act in the absence of any rule framed under NPA Act ? Yes. Whether recourse to take possession of the secured assets of the borrower in terms of Section 13(4) of the NPA Act comprehends the power to take actual possession of the immovable property.

  2007(1) LAW HERALD (SC) 927 IN THE SUPREME COURT OF INDIA Before The Hon’ble Mr. Justice Arijit Pasayat The Hon’ble Mr. Justice S.H. Kapadia Civil Appeal No. 3228 of…

Dishonour of Cheque–Offence by Company–Director of company should not automatically be vicariously liable for commission of an offence–There should be sufficient averments to show that the person who is sought to be proceeded against on the premise of his being vicariously liable for commission of an offence by the Company must be incharge and shall also be responsible to the Company for the conduct of its business.

2007(1) LAW HERALD (SC) 909 IN THE SUPREME COURT OF INDIA Before The Hon’ble Mr. Justice S.B. Sinha The Hon’ble Mr. Justice Markandey Katju Criminal Appeal No. 664 of 2002…

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