Supreme Court of India Judgements

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Category: SARFAESI

SARFAESI

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), Section 13 — Default in repayment of financial assistance — Secured creditor entitled to take possession and auction secured asset (School premises) — Petitioners repeatedly failed to honour commitments and undertakings to repay debt, even after High Court and Supreme Court orders — Conduct amounted to disobedience of court orders and disregard for rule of law.

Apr 28, 2026 sclaw

2026 INSC 408 SUPREME COURT OF INDIA DIVISION BENCH CHAITANYA BAHUUDDESHIYA SHIKSHAN PRASARAK MANDAL AND OTHERS Vs. AUXILO FINSERVE PVT. LTD. AND OTHERS ( Before : Dipankar Datta and Satish…

SARFAESI

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act, 2002) — Applicability in Nagaland — Constitutional Mandate — Article 371A of the Constitution of India — Special provision with respect to the State of Nagaland — Article 371A(1)(a)(iv) stipulates that no Act of Parliament concerning ownership and transfer of land and its resources shall apply to Nagaland unless the Legislative Assembly resolves so — SARFAESI Act, which envisages transfer of property by auction sale for realizing secured assets, relates to ‘ownership and transfer of land’ — Provisions of SARFAESI Act became applicable in Nagaland only from the date of the Governor’s notification (December 10, 2021) — Action initiated by the Appellant-Corporation under Section 13(2) of SARFAESI Act in 2011 was without jurisdiction as the Act was not applicable in Nagaland at that time. (Paras 15, 18, 19, 20, 21, 28)

Dec 17, 2025 sclaw

2025 INSC 1446 SUPREME COURT OF INDIA DIVISION BENCH NORTH EASTERN DEVELOPMENT FINANCE CORPORATION LTD. (NEDFI) Vs. M/S L. DOULO BUILDERS AND SUPPLIERS CO. PVT. LTD. ( Before : Dipankar…

SARFAESI

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) — Priority of Debts — Section 26E — When two enactments contain non-obstante clauses, the provision incorporated later in time prevails; however, if one enactment creates a statutory ‘first charge’, that charge prevails over the general ‘priority’ conferred by the later non-obstante clause — SARFAESI Act, Section 26E, conferring priority to secured creditors’ debts registered with the Central Registry, does not override the statutory ‘first charge’ created for Provident Fund dues under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.

Nov 23, 2025 sclaw

2025 INSC 1335 SUPREME COURT OF INDIA DIVISION BENCH JALGAON DISTRICT CENTRAL COOP. BANK LTD. Vs. STATE OF MAHARASHTRA AND OTHERS ( Before : B. R. Gavai, CJI. and K.…

SARFAESI

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) — Priority of Debts — Section 26E — When two enactments contain non-obstante clauses, the provision incorporated later in time prevails; however, if one enactment creates a statutory ‘first charge’, that charge prevails over the general ‘priority’ conferred by the later non-obstante clause — SARFAESI Act, Section 26E, conferring priority to secured creditors’ debts registered with the Central Registry, does not override the statutory ‘first charge’ created for Provident Fund dues under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.

Nov 22, 2025 sclaw

2025 INSC 1335 SUPREME COURT OF INDIA DIVISION BENCH JALGAON DISTRICT CENTRAL COOP. BANK LTD. Vs. STATE OF MAHARASHTRA AND OTHERS ( Before : B. R. Gavai, CJI. and K.…

SARFAESI

Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (DRT Act) — Income Tax Act, 1961 — Application of Second and Third Schedules to Income Tax Act and Income Tax (Certificate Proceedings) Rules, 1962 for immovable property sales — Rule 53 of Second Schedule requires proclamation of sale to contain Material information for the purchaser, including any encumbrances or claims affecting the property’s value.

Oct 5, 2025 sclaw

2025 INSC 1161 SUPREME COURT OF INDIA DIVISION BENCH DELHI DEVELOPMENT AUTHORITY Vs. CORPORATION BANK AND OTHERS ( Before : Sanjay Kumar and Alok Aradhe, JJ. ) Civil Appeal No.…

SARFAESI

Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – Sections 13(4) and 17 – The Court emphasized that the High Court should not entertain petitions under Article 226 when an effective alternative remedy is available, especially in financial recovery matters – The Court reiterated the principle that confirmed auction sales can only be interfered with in cases of fraud or collusion, which were not present in this case – The Supreme Court concluded that the High Court had erred in its decision, and the rights of the auction purchaser should be upheld following the confirmed sale and registration of the property – Appeal Allowed.

Apr 14, 2024 sclaw

2024 INSC 297 SUPREME COURT OF INDIA FULL BENCH PHR INVENT EDUCATIONAL SOCIETY — Appellant Vs. UCO BANK AND OTHERS — Respondent ( Before : B.R. Gavai and Rajesh Bindal…

SARFAESI

Security Interest (Enforcement) Rules, 2002 – Rule 9(5) – Contract Act, 1872 – Sections 73 and 74 – Forfeiture of earnest-money deposit by the secured creditor – Constitutional validity of Rule 9(5) of the SARFAESI Rules is upheld – Any dilution of the forfeiture provided under Rule 9(5) of the SARFAESI Rules would result in the entire auction process under the SARFAESI Act being set at naught by mischievous auction purchaser(s) through sham bids, thereby undermining the overall object of the SARFAESI Act of promoting financial stability, reducing NPAs and fostering a more efficient and streamlined mechanism for recovery of bad debts

Feb 6, 2024 sclaw

SUPREME COURT OF INDIA FULL BENCH THE AUTHORISED OFFICER, CENTRAL BANK OF INDIA — Appellant Vs. SHANMUGAVELU — Respondent ( Before : Dr. Dhananjaya Y. Chandrachud, CJI., J.B. Pardiwala and…

Banking Property Matters SARFAESI

(SARFAESI) – Section 13(8) – Transfer of Property Act, 1882 – Section 60 – Redemption of mortgage – Failure on the part of the borrower in tendering the entire dues including the charges, interest, costs etc. before the publication of the auction notice as required by Section 13(8) of the SARFAESI Act, would also sufficiently constitute extinguishment of right of redemption of mortgage

Oct 1, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH CELIR LLP — Appellant Vs. BAFNA MOTORS (MUMBAI) PVT. LTD. AND OTHERS — Respondent ( Before : Dr. Dhananjaya Y. Chandrachud, CJI. and J.B.…

Limitation SARFAESI

Limitation Act, 1963 – Section 18 – Effect of acknowledgment in writing – Documents relating to acknowledgement claiming benefit of Section 18 were introduced at appellate stage, and such documents being balance sheets and settlement offers, the same could be accepted even at the appellate stage.

Sep 26, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH AXIS BANK LIMITED — Appellant Vs. NAREN SHETH AND ANOTHER — Respondent ( Before : Vikram Nath and Ahsanuddin Amanullah, JJ. ) Civil Appeal…

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Civil Procedure Code, 1908 (CPC) — Section 89 — Compromise Decree — Interpretation of — Memorandum of Settlement (MOS) forming basis of decree — Clause (xiii) specifying conditional obligations for exchange of immovable properties or payment of guideline value upon failure to transfer — Held, obligation to pay monetary compensation triggered by failure to transfer agreed ‘B Schedule’ land, not discretionary option.

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Right to Education Act, 2009 — Section 12 — Uttar Pradesh Right of Children to Free and Compulsory Education Rules, 2011 — Rule 8 — Neighbourhood School Obligation — A neighbourhood school has a constitutional and statutory duty to admit students forwarded by the State Government without delay, as mandated by Article 21A of the Constitution and relevant provisions of the RTE Act and UP RTE Rules — The school cannot question the eligibility of a student once the government has completed the admission process and forwarded the list.

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I B C

Insolvency and Bankruptcy Code, 2016 — Section 5(8) — Financial Debt — Corporate Guarantees — A liability arising from corporate guarantee for money borrowed against interest qualifies as financial debt — The execution of corporate guarantees, even if challenged on grounds of timing or non-disclosure, are considered valid and enforceable if their execution is admitted or demonstrably proven, making the appellants entitled to recognition as financial creditors.

Apr 30, 2026 sclaw