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Start Free TrialSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Chapter III
Title: Enforcement of Security Interest
State: Central
Year: 2002
.....management of the business of the borrower shall be entitled to any compensation for the loss of office or for the premature termination under this Act of any contract of management entered into by him with the borrower. (2) Nothing contained in sub-section (1) shall affect the right of any such managing director or any other director or manager of any such person in charge of management to recover from the business of the borrower, moneys recoverable otherwise than by way of such compensation. Section 17 - Right to appeal (1) Any person (including borrower), aggrieved by any of the measures referred to in sub-section (4) of section 13 taken by the secured creditor or his authorised officer under this Chapter,1[may make an application along with such fee, as may be prescribed,] to the Debts Recovery Tribunal having jurisdiction in the matter within forty-five days from the date on which such measure had been taken. 2["Provided that different fees may be prescribed for making the application by the borrower and the person other than the borrower. Explanation- For the removal of doubts, it is hereby declared that the communication of reasons to the borrower by the.....
View Complete Act List Judgments citing this sectionEvacuee Interest Separation Act 1951 [Repealed] Chapter II
Title: Separation of Evacuee Interest in Composite Property
State: Central
Year: 1951
.....or the claimant the amount payable under the mortgage debt and redeem the mortgaged property; or (ii) sell the mortgaged property for satisfaction of the mortgage debt and distribute the sale proceeds thereof; or (iii) partition the property between the mortgagor and the mortgagee having regard to the share to which the mortgagee would be entitled in lieu of his claim; (c) adopt a combination of all or some of the aforesaid measures: Provided that before taking any measure under this section, the competent officer shall take into account the order of preference filed by the claimant under clause (f) of sub-section (2) of section 7; and in any case where the claimant is a mortgagor and tenders the amount due, the competent officer shall accept the same in full satisfaction of the mortgage debt. Section 11 - Vesting of evacuee interest in the Custodian free from encumberances and payments, etc., to be valid discharge from all claims (1) Where in respect of any property, notice under section 6 is issued but no claim is filed or found to exist or where any claim in respect of such property is found to exist and the competent officer separates the evacuee interest.....
View Complete Act List Judgments citing this sectionInterest Act, 1978 Section 3
Title: Power of Court to Allow Interest
State: Central
Year: 1978
.....satisfied that there are special reasons why no interest should be given in respect of those damages. (3) Nothing in this section,-- (a) shall apply in relation to-- (i) any debt or damages upon which interest is payable as of right, by virtue of any agreement; or (ii) any debt or damages upon which payment of interest is barred, by virtue of an express agreement; (b) shall affect-- (i) the compensation recoverable for the dishonour of a bill of exchange, promissory note or cheque, as defined in the Negotiable Instruments Act, 1881 (26 of 1881); or (ii) the provisions of rule 2 of Order II of the First Schedule to the Code of Civil Procedure, 1908 (5 of 1908); (c) shall empower the court to award interest upon interest.
View Complete Act List Judgments citing this sectionEvacuee Interest Separation Act 1951 [Repealed] Complete Act
Title: Evacuee Interest Separation Act 1951 [Repealed]
State: Central
Year: 1951
..... Section11 - Vesting of evacuee interest in the Custodian free from encumberances and payments, etc., to be valid discharge from all claims Section12 - Rights of claimants inter se and by other persons against claimants not to be affected Chapter III Section13 - Power to appoint appellate officers Section14 - Appeals Section15 - Power of revision of the appellate officer Section16 - Amendment of orders Section17 - Powers and procedure of competent officers and appellate officers Section18 - Finality of orders Chapter IV Section19 - Power to transfer cases Section20 - Jurisdiction of civil courts barred in certain matters Section21 - Competent officer and appellate officer to be a public servant Section22 - Protection of action taken in good faith Section23 - Power to make rules Amending ActI - EVACUEE INTEREST (SEPARATION) AMENDMENT ACT 1960 Repealing Act1 - DISPLACED PERSONS CLAIMS AND OTHER LAWS REPEAL ACT, 2005
List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 5
Title: Acquisition of Rights or Interest in Financial Assets
State: Central
Year: 2002
.....bank or financial institution shall vest in such company in relation to such financial assets. (3) Unless otherwise expressly provided by this Act, all contracts, deeds, bonds, agreements, powers-of-attorney, grants of legal representation, permissions, approvals, consents or no-objections under any law or otherwise and other instruments of whatever nature which relate to the said financial asset and which are subsisting or having effect immediately before the acquisition of financial asset under sub-section (1) and to which the concerned bank or financial institution is a party or which are in favour of such bank or financial institution shall, after the acquisition of the financial assets, be of as full force and effect against or in favour of the securitisation company or reconstruction company, as the case may be, and may be enforced or acted upon as fully and effectually as if, in the place of the said bank or financial institution, securitisation company or reconstruction company, as the case may be, had been a party thereto or as if they had been issued in favour of securitisation company or reconstruction company, as the case may be. (4) If, on the date of.....
View Complete Act List Judgments citing this sectionTerrorist Affected Areas (Special Courts) Act, 1984 Preamble 1
Title: Terrorist Affected Areas (Special Courts) Act, 1984
State: Central
Year: 1984
THE TERRORIST AFFECTED AREAS (SPECIAL COURTS) ACT, 1984 [Act, No. 61 of 1984] [31st August, 1984] PREAMBLE An Act to provide for the speedy trial of certain offences in terrorist affected areas and for matters connected therewith. BE it enacted by Parliament in the Thirty-fifth Year of the Republic of India as follows:
View Complete Act List Judgments citing this sectionTerrorist Affected Areas (Special Courts) Act, 1984 Section 3
Title: Declaration of Terrorist Affected Area
State: Central
Year: 1984
.....notification shall be specified therein; and (b) so much of the period specified in such notification as is subsequent to the date of publication of the notification shall not, in the first instance, exceed six months, but the Central Government may, by notification, extend such period from time to time by any period not exceeding six months at any one time, if the Central Government, having regard to the activities of terrorists in such area, is of the opinion that it is expedient so to do. Explanation For the avoidance of doubts, it is hereby declared that the period specified in a notification issued under this section may commence from a date earlier than the date of commencement of this Act.
View Complete Act List Judgments citing this sectionTerrorist Affected Areas (Special Courts) Act, 1984 Complete Act
Title: Terrorist Affected Areas (Special Courts) Act, 1984
State: Central
Year: 1984
Preamble1 - TERRORIST AFFECTED AREAS (SPECIAL COURTS) ACT, 1984 Section1 - Short title, extent and commencement Section2 - Definitions Section3 - Declaration of terrorist affected area Section4 - Establishment of Special Courts Section5 - Composition and appointment of Judges of Special Court Section6 - Place of sitting Section7 - Jurisdiction of Special Court Section8 - Powers of Special Courts with respect to other offences Section9 - Public Prosecutors Section10 - Procedure and powers of Special Courts Section11 - Power of Supreme Court to transfer case Section12 - Protection of witnesses Section13 - Power to transfer cases to regular courts Section14 - Appeal Section15 - Modified application of certain provisions of the Code Section15A - Abolition of certain Special Courts Section16 - Overriding effect of Act Section17 - Delegation Section18 - Power to make rules Section19 - Saving Section20 - Amendment of Act 1 of 1872 Section21 - Repeal and saving Schedule1 - SCHEDULE
List Judgments citing this sectionInterest Tax Act, 1974 Section 12
Title: Interest for Default in Furnishing Return of Chargeable Interest
State: Central
Year: 1974
.....re-assessment exceeds the interest-tax on chargeable interest on the basis of earlier assessment aforesaid. (4) Where, as a result of an order under section 15 or section 17 of this Act or section 254 or section 260 or section 262 of the Income-tax Act, as applicable to this Act by virtue of section 21 of this Act, the amount on which interest was payable under sub-section (1) or sub-section (3) has been increased or reduced, as the case may be, the interest shall be increased or reduced accordingly, and-- (i) in a case where the interest is increased, the Assessing Officer shall serve on the assessee a notice of demand in the prescribed form specifying the sum payable and such notice of demand shall be deemed to be a notice under section 156 of the Income-tax Act as applicable to this Act by virtue of Section 21, and the provisions of this Act shall apply accordingly; (ii) in a case where the interest is reduced, the excess interest paid, if any, shall be refunded. (5) The provisions of this section shall apply in respect of assessments for the assessment year commencing on the 1st day of April, 1992 and subsequent years.
View Complete Act List Judgments citing this sectionInterest Tax Act, 1974 Section 12A
Title: Interest for Default in Payment of Interest-tax in Advance
State: Central
Year: 1974
.....on the basis of assessment under sub-section (2) or, as the case may be, sub-section (3) of section 8. (4) Where, as a result of an order under section 15 or section 17 of this Act or section 254 or section 260 or section 262 of the Income-tax Act as applicable to this Act by virtue of section 21 of this Act, the amount on which interest was payable under sub-section (1) or sub-section (3) has been increased or reduced, as the case may be, the interest shall be increased or reduced accordingly, and-- (i) in a case where the interest is increased, the Assessing Officer shall serve on the assessee a notice of demand in the prescribed form specifying the sum payable and such notice of demand shall be deemed to be a notice under section 156 of the Income-tax Act as applicable to this Act by virtue of section 21 of this Act, and provisions of this Act shall apply accordingly; (ii) in a case where the interest is reduced, the excess interest paid, if any, shall be refunded. (5) The provisions of this section shall apply in respect of assessments for the assessment year commencing on the 1st day of April, 1992 and subsequent assessment years.
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