Advanced Search Results

Bank of India Vs. Ketan Parekh and ors.

Court : Supreme Court of India

Subject : Banking

Acts : Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 - Sections 3, 3(2), 3(3), 4, 5, 6, 7, 9, 9A, 9A(1), 9B, 10, 11, 11(2), 13, 17, 20, 34 and 34(2); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 34; Special Court (Trial of Offences Relating to Transactions in Securities) (Amendment) Act, 1994; Evidence Act, 1872 - Sections 123 and 124; Industrial Finance Corporation Act, 1948; State Financial Corporation Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Small Industries Development Bank of India Act, 1989; Securities Contracts (Regulation) Act, 1956; Contract Act - Sections 23; Transfer of Property Act; Industrial D

Reported in : AIR2008SC2361; 2008(5)ALLMR(SC)983; 2008(3)AWC3091(SC); III(2008)BC247; 2008(56)BLJR2070; [2008]143CompCas711(SC); (2008)5MLJ1097(SC); (2008)151PLR662; 2008(8)SCALE327; 2008AIRSCW3903; AIR2008SC2360; 2008(8)SCC148

1994); [A.K. Mathur & Altamas Kabir, JJ] Recovery of Debts Due to Banks and Financial Institutions Act(51 of 1993) Section 34 Securities Act of 1992 Relative scope - Held, The Act of 1992 as amended to include Section 9-A … Act or the rules made thereunder shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporation Act, 1951 (63 of 1951), the Unit Trust

Allahabad Bank Vs. Canara Bank and Another

Court : Supreme Court of India

Subject : BankingCompany

Acts : Companies Act, 1956 - Sections 19, 232(1), 442, 445, 446, 529A and 537; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 20, 22, 25 and 34; Constitution of India - Articles 226, 227 and 323A; Banking Regulation Act, 1949 - Sections 5; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 - Sections 3; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Companies (Amendment) Act, 1960; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Old Companies Act, 1913 - Sections 171; Banking Companies Act, 1949 - Sections 45C; Civil Procedure

Reported in : 2000(3)ALLMR(SC)475; 2000(2)CTC723; JT2000(4)SC411; 2000(3)SCALE169; (2000)4SCC406; [2000]2SCR1102; AIR 2000 SC 1535; MANU/SC/0262/2000

the Industrial Credit and Investment Corporation of India Ltd; (ii) the Industrial Finance Corporation of India; (iii) the Industrial Development Bank of India; (iv) the … relating to the impact of the provisions of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (hereinafter called the RDB Act) on the provisions of the Companies Act, 1956. The immediate dispute before us … filing of the OA for adjudication of the debt nor for executing the decree passed by the Tribunal. Section 34(1) gives overriding effect to the provisions of the Act save as provided in Section 34(2). Section 34(2) as

In Re: U.P. Carbide and Chemicals Ltd.

Court : Uttaranchal

Subject : Company

Acts : Companies Act, 1956 - Sections 19(19), 442, 446, 446(1), 529A and 537; ;Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 25, 31A and 34; Industrial Finance Corporation Act, 1948; State Financial Corporation Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Small Industries Development Bank of India Act, 1989

Reported in : [2005]63SCL419(NULL)

seized with the matter regarding recovery of loan, the Official Liquidator has lost his jurisdiction. He relied on Section 34 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 which reads as under :--'(1) Act … shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporation Act, 1951 … before it, issued recovery certificates under Section 31A of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDBFI Act). The said recovery certificate was sent to DRT, Lucknow and notices were sent to the Official

indore Education and Services Society and ors. Vs. Bank of India and o ...

Court : Madhya Pradesh

Subject : BankingCivil

Acts : The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 17(2), 18, 19, 19(3), 21, 22, 34, 34(1) and 34(2); Legal Services Authority Act, 1987 - Sections 19(3), 20, 20(1), 20(2), 20(5) and 21; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; ;Sick Industrial Companies (Special Provisions) Act, 1985; ;Court Fees Act, 1870; Constitution of India - Articles 226 and 227

Reported in : 2002(5)MPHT434

Act or the rules made thereunder shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948, the State Financial Corporations Act, 1951, the Unit Trust of India Act, 1963, the Industrial … is whether the provision of Section 34(1) of The Recovery of Debts Due to Banks & Financial Institutions Act, 1993 (for short 'the Recovery Act') over-rides Section 20 of the Legal Services Authority Act, 1987 (for short 'the

Ksl and Industries Ltd. Vs. Arihant Threads Ltd. and ors.

Court : Supreme Court of India

Subject : SICABanking

Acts : Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 2, 3, 15 to 19, 19A, 20, 21, 22, 22(1), 22A, 25, 29, 32 and 32(1); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 25, 28, 29, 30, 34, 34(1) and 34(2); Income Tax Act, 1961 - Sections 72A; Companies Act, 1956 - Sections 529(1) and 529A; Foreign Exchange Regulation Act, 1973; Urban Land (Ceiling and Regulation) Act, 1976; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951 - Sections 29 and 46B; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Small Industries Development Bank of India Act, 1989; Code of Civil Procedure (CPC) , 1908 - Sections 9; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2000;

Reported in : IV(2008)BC421(SC); 153(2008)DLT27(SC); 2008(12)SCALE42; (2008)9SCC763

for short) for recovery of Rs. 25,26,60,836/- under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as the `RDDB' Act). On June 10, 2002, M/s Roland Exports (successor of Goindwal Industrial … 22 and the High Court ought to have decided the case on merits. It was also submitted that Section 34 of RDDB Act has an `overriding effect' and even on that ground, the matter ought to have been … was the predecessor of the Stressed Assets Stabilisation Fund (`SASF' for short), financed the project undertaken by the Company by way of foreign currency loan

Maharashtra State Financial Corporation and Etc. Vs. Devidas K. Virkar ...

Court : Mumbai

Subject : Banking

Acts : State Financial Corporation Act, 1951 - Sections 31; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 34

Reported in : AIR2004Bom323; I(2006)BC367; [2005]123CompCas423(Bom)

Tribunal (DRT) in view of section 31 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (for short Debt Act 1993). The relevant Sections 31 and 34, are reproduced as under :'Section 31. Transfer … submission revolve around the following issue whether Miscellaneous petition for recovery of dues against defaulting borrowers, by the Finance Corporations, under the SFC Act, need to be transferred to the Debt Recovery Tribunal (DRT) in view of

Maxlux Glass Private Limited Vs. Icici Limited Company

Court : Kolkata

Subject : CompanyBanking

Acts : Companies Act, 1956 - Sections 162, 433, 434, 434(1), 439 and 446;; Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 2, 3, 4, 5, 6, 7, 8, 17, 18, 25, 30, 31 and 34;; Constitution of India - Articles 226 and 227;; Industrial Finance Corporation Act, 1948;; State Financial Corporation Act, 1951;; Unit Trust of India Act, 1963;; Industrial Reconstruction Bank of India Act, 1984;; Stock Industrial Companies (Special Provisions) Act, 1985;; Stock Industrial Companies (Special Provisions) (Amendment) Act, 1986

Reported in : (2001)2CALLT539(HC)

transferred on that to suchTribunals.13. Section 34 gives an overriding effect to the provisions of the Act of 1993. Section 34 reads as under'34. Act to have overriding effect. (1) Save as provided under subsection (2), the provisions of … or about 12th May. 1990 the petitioner along with Industrial Development Bank of India (IDBI) and the Industrial finance Corporation of India Limited (IFCI) entered into a participation loan agreement for granting the Company a rupee loan

Central Bank of India Vs. Coast West Ferro Alloys and 7 ors.

Court : Gujarat

Subject : SICA

Acts : Sick Industrial Companies Act - Sections 2, 3, 15, 16, 17, 18, 19, 19A, 20, 21, 22, 22(1), 22A, 25, 29 and 32; Income Tax Act, 1961 - Sections 72A; Code of Civil Procedure (CPC) - Order 7, Rule 11; Foreign Exchange Regulation Act, 1973; Urban Land (Ceiling and Regulation) Act, 1976; Constitution of India - Article 39; Companies Act, 1956; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 34; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Small Industries Development Bank of India Act, 1989

Reported in : (2009)1GLR59

Exh.44 that respondent being a sick unit declared by Board of Industrial Finance and Reconstruction (hereinafter referred to as 'BIFR'), therefore, under Section 22(1) of … company.RDDB Act - Ambit and scope23. The RDDB Act (Recovery of Debts Due to Banks and Financial Institutions Act, 1993) has been enacted with a view 'to provide for the establishment of Tribunals for expeditious adjudication and recovery … due under the RDDB Act. Chapter VI is Miscellaneous. One section, however, is of extreme importance. It is Section 34 which allows `overriding effect' to the provisions of the Act over other laws. It is a crucial provision

Oriental Bank of Commerce vs.harminder Singh & Ors.

Court : Delhi

Subject : Education

shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporations Act, 1951 … to the decision in the proceedings pending under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDDBFI Act) (renamed from 26.5.2017 as “The Recovery of Debts and Bankruptcy Act, 1993”) and also if any … due process of law. This is because the jurisdiction of a civil court is barred by virtue of Section 34 of the RDDBFI Act and Section 34 of the SARFAESI Act. A civil court cannot decide any issue

Mardia Chemicals Ltd. Etc. Etc. Vs. Union of India (Uoi) and ors. Etc. ...

Court : Supreme Court of India

Subject : BankingConstitution

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Sections 2, 3(4), 9, 13, 13(1), 13(2), 13(3), 13(4), 13(8), 13(10), 15, 17, 17(1), 17(2), 19, 34 and 35; Companies Act, 1956 - Sections 529; Transfer of Property Act, 1882 - Sections 31, 44, 48, 69, 69(1), 69(3) and 69A; Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 35; Sick Industrial Companies Act - Sections 22; Contract Act - Sections 133, 135 and 176; State Financial Corporation Act, 1951 - Sections 29; Security Interest (Enforcement) Rules, 2002 - Rule 9 and 9(6); Code of Civil Procedure (CPC) ; Constitution of India - Articles 12, 14 and 226; Bombay Tenancy Act, 1939; Securitisation and Reconstruction of Financial Assets and Enforcement of Sec

Reported in : AIR2004SC2371; 2004(3)ALD50(SC); 2004(4)ALT4(SC); II(2004)BC397(SC); [2004]120CompCas373(SC); (2004)2CompLJ209(SC); 2004(2)CTC759; 110(2004)DLT665(SC); 2004(74)DRJ227; (200

power conferred by or under Act or under the Recovery of Debts due to Banks and Financial Institutions Act, 1993. Section 35 gives an overriding effect to the provisions of the Act over the provisions contained under any other … the correctness of the amount sought to be recovered and the interest levied thereupon. On the other hand, Section 34 bars the jurisdiction of the civil court to entertain any suit in respect of any matter which a … note of are that the banks and the financial institutions have heavily financed the petitioners and other industries. It is also a fact that a