Category: SARFAESI

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…

Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 – Sections 13(4) and 17 – Writ petitions against the notice under Section 13(4) of the SARFAESI Act was not required to be entertained by the High Court – Filing of the writ petition by the borrowers before the High Court is nothing but an abuse of process of Court

SUPREME COURT OF INDIA DIVISION BENCH PHOENIX ARC PRIVATE LIMITED — Appellant Vs. VISHWA BHARATI VIDYA MANDIR AND OTHERS — Respondent ( Before : M.R. Shah and B.V. Nagarathna, JJ.…

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