SARFAESI Act; MAN Industries (India) Limited Vs. Punjab National Bank [Chhattisgarh High Court, 05-12-2017]

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – S. 17 (1) – Auction Purchaser has a remedy of filing appeal u/s. 17(1) of the SARFAESI Act before the Debts Recovery Tribunal questioning the confirmation of auction and other proceeding. 

SARFAESI Act; Prafulla Kumar Maheshwari Vs. Authorized Officer & Chief Manager [Madhya Pradesh High Court, 22-11-2017]

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – Section 14 – Security Interest (Enforcement) Rules, 2002 – the powers exercise under Section 14 of the Act of 2002 by the District Magistrate is only an administrative power and not adjudicatory in nature and, thus, authorizing Additional […]

SARFAESI Act; United Bank of India Vs. State of West Bengal [Calcutta High Court, 01-09-2017

Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – S. 14 – Security Interest (Enforcement) Rules, 2002 – Rr. 8 & 9 – Sale of immovable secured assets – A secured creditor cannot apply u/s. 14 in respect of an immovable property after execution and registration of a […]

SARFAESI Act; Allahabad Bank Vs. Hemantkumar [Bombay High Court, 20-07-2017]

Code of Civil Procedure, 1908 – O. VII R. 11 (d) – Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – S. 34 – Maintainability of the Suit – Rejection of Plaint – Trial Court should have allowed the application for rejection of the plaint on […]

SARFAESI Act; Roshan Narayanan C.S. Vs. Authorized Officer [Kerala High Court, 23-06-2017]

Securitisation and Reconstructions of Financial Assets and Enforcement of Security Interest Act, 2002 – Ss. 13(4)(a), 14 & 17 – Security Interest (Enforcement) Rules, 2002 – R.8(2) – Enforcement of security interest – Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset – Application against measures to recover […]

Recovery; Power Machines India Limited Vs. State of Madhya Pradesh [Supreme Court of India, 17-04-2017]

The procedure for recovery of land revenue envisaged under Rule 5 of the Rules could not be said to be discriminatory, it being quite reasonable procedure. It cannot be said to be harsh or drastic but is quite a reasonable procedure and it furthers the mandate of the Act. The […]

SARFAESI Act; Nasreen Khatoon Vs. Santosh Thakur @ D.C. Malik [Madhya Pradesh High Court, 06-03-2017]

If the Tribunal, after examining the facts and circumstances of the case and evidence produced by the parties, comes to the conclusion that the measures taken by the secured creditor are not in consonance with sub-section (4) of Section 13, then it can direct the secured creditor to restore management […]

SARFAESI Act; Asset Reconstruction Company (India) Ltd. Vs. Florita Buildcon Private Limited [Bombay High Court, 01-12-2016]

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – Coastal Regulation Zone (CRZ)  – Plot reserved for Recreation Ground (RG) – Whether the plot, which is declared to be a RG plot, is transferable or not ?