Category: SARFAESI

(SARFAESI) – Section 13(2) – Proceedings under Section 13(2) SARFAESI Act – mere typographical error due to inadvertence which has not caused any prejudice to the borrowers, that in itself could not be considered to be the ground to annul the process held by the secured creditor which is in due compliance with the requirement as contemplated under the provisions of Security Interest (Enforcement) Rules, 2002.

SUPREME COURT OF INDIA DIVISION BENCH VARIMADUGU OBI REDDY — Appellant Vs. B. SREENIVASULU AND OTHERS — Respondent ( Before : Ajay Rastogi and C.T. Ravikumar, JJ. ) Civil Appeal…

Application under Section 14 SARFAESI Act – District Magistrate (DM)/Chief Metropolitan Magistrate (CMM) is not required to adjudicate the dispute between the borrower and the secured creditor and/or between any other third party and the secured creditor with respect to the secured assets.

SUPREME COURT OF INDIA DIVISON BENCH BALKRISHNA RAMA TARLE DEAD THR LRS AND ANOTHER — Appellant Vs. PHOENIX ARC PRIVATE LIMITED AND OTHERS — Respondent ( Before : M.R. Shah…

SARFAESI – Section 14(1A) – Taking of Possession of Secured Assets and Documents – Held, An advocate is and must be regarded as an officer of the court and subordinate to the CMM/DM for the purposes of Section 14(1A) of the 2002 Act – It is open to the District Magistrate (DM) or the Chief Metropolitan Magistrate (CMM) to appoint an advocate and authorise him/her to take possession of the secured assets and documents relating thereto

SUPREME COURT OF INDIA DIVISION BENCH NKGSB COOPERATIVE BANK LIMITED — Appellant Vs. SUBIR CHAKRAVARTY AND OTHERS — Respondent ( Before : A.M. Khanwilkar and C.T. Ravikumar, JJ. ) Civil…

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