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Kalyani Sales Company and anr. Vs. Union of India (Uoi) and anr.

Court : Punjab and Haryana

Subject : Banking

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 2, 3(1), 13(2), 13(4), 13(8), 13(10), 14, 17, 17(1), 17(2), 17(6), 17(7), 18A, 18(1), 19, 19(1), 19(2), 19(8), 19(25), 31, 34, 35, 37, 38(2), 40 and 40(1); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - 1(4), 2, 3, 3(1), 13(2), 13(4), 17, 19, 19(1) and 31; Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 - Sections 10, 12, 17 and 18; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2000; Information Technology Act, 2000 - Sections 2; Court Fees Act, 1870 - Sections 7; State Financial Corporation Act, 1951 - Sections 29 and 31; Industrial Disputes Act, 1947

Reported in : AIR2006P& H107; I(2006)BC1; (2006)142PLR1; [2006]70SCL177(Punj& Har)

of the Act. The said ordinance was replaced by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (Act No.30 of 2004) (hereinafter to be referred as 'the Amending Act').In Mardia Chemicals Limited's case (supra), while … notification prescribe. Subsequently, the Act was enacted to empower the banks and financial institutions to take possession of securities and sell them. The validity of the RDB Act was upheld by the Supreme Court in Mardia Chemicals … 13 taken by the secured creditor or his authorised officer under this chapter, may make an application along with such fee, as may be prescribed, … follows:On 29.09.2003, the Bank issued to the petitioners a notice Under Section 13(2) of the Act calling upon them to pay an amount of Rs.

Bank Of Rajasthan Ltd. Vs. Vck Shares And Stock Broking Services Ltd.

Court : Supreme Court of India

Subject : Land Acquisition

it, withdraw the application, whether made before or after the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (30 of 2004) for the purpose of taking action under the Securitisation and Reconstruction of Financial Assets and … to a limit of Rs.5 crores. This additional credit was secured by the deposit of shares, stocks, and securities of various companies. The respondent did not adhere to financial discipline, resulting in the appellant issuing a notice … such provisions, and consequently the same were upheld. The Statutory Framework 32. Chapter III of the RDB Act has the heading ‘Jurisdiction, Powers and Authority … company on 28.06.1994 with a limit of Rs.1.50 crores at interest of 19.25% per annum, repayable in twelve quarterly instalments. In order to secure the

Salem Textiles Limited Vs. Authorized Officer of Phoenix Arc Private L ...

Court : Chennai

Subject : Land Acquisition

the third in the year 2004 in the form of Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004. Companies (Second Amendment) Act”25. First let us take note of what led to the Companies (Second Amendment) Act, … institutions, but also sought to amend three other related enactments, namely, (i) The Companies Act, 1956, (ii) The Securities Contracts (Regulation) Act, 1956, and (iii) The Sick Industrial Companies (Special Provisions) Act, 1985. It is, by virtue … the workers. 11.2. Part VII of the Companies Act, comprising of five chapters, the first relating to the modes of winding up and contributories, the … Selliampalayam, Attu”108. Salem District Represented by its Managing Director. .. Petitioner Vs 1.The Authorized Officer, M/s.Phoenix ARC Private Ltd., Acting as Trustee on behalf of

V.K. Sekhar Vs. Indian Bank, Greamset Branch and anr.

Court : Andhra Pradesh

Subject : BankingCivil

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13, 13(2), 13(3A), 13(4), 17(1), 31, 35 and 37; Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 2, 19 and 19(1); Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; Companies Act, 1956; Securities Contracts (Regulation) Act, 1956; Securities and Exchange Board of India Act, 1992; Code of Civil Procedure (CPC) , 1908 - Sections 60(1); Constitution of India - Article 226

Reported in : 2006(6)ALD778

cause of action, wholly or in part, arises.(2)...11. Under the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (for short, 'the Amendment Act, 2004), Section 19 of the RDB Act, 1993 was amended with effect from … shows that it is specifically aimed at empowering the Banks and Financial Institutions to take possession of the securities given for financial assistance and sell the same for recovery of the dues declared as NPAs without the … under a decree or order of any Civil Court or Arbitration Award. Chapter-II of the said Act deals with establishment of Tribunal and Appellate Tribunal … writ petition is filed seeking a declaration that the Auction Notice dated 16-1-2006 issued by the 1st respondent Bank proposing to sell the properties belonging

Shree Rama Multi-tech Ltd. and anr. Vs. Asset Reconstruction Company ( ...

Court : Gujarat

Subject : Civil

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 2, 2(1), 3, 13, 13(1), 13(2), 13(3A), 13(4), 13(5), 13(6), 13(8), 13(9), 13(10), 17, 17(1), 17(2), 17A, 18, 19, 31, 34, 35, 36 and 37; Companies Act, 1956; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 2, 17, 17(1), 19, 19(1), 19(15), 22 and 24; Enforcement of Security Interest and Recovery of Debt Laws (Amendment) Act, 2004 - Sections 10; Transfer of Properly Act, 1882 - Sections 69 and 69A; Limitation Act, 1963; Securities Contracts (Regulation) Act, 1956; Securities and Exchange Board of India Act, 1992; Code of Civil Procedure (CPC) , 1908 - Sections 11 - Order 8 - Order 23, Rule 1, 1(1), 1(3) and 1(4) - Order 32, Rules 1 to 14 ; In

Reported in : (2007)2GLR1230

it, withdraw the application, whether made before or after the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 for the purpose of taking action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security … is not in dispute that the respondent-Company acquired under various agreements, financial assistances -- together with all underlined securities and interest -- in the petitioner No. 1-Company.2.4 It is virtually undisputed that substantial outstanding amount has not … 13 taken by the secured creditor or his authorised officer under this Chapter, may make an application along with such fee, as may be prescribed

Mohan Lal and anr. Vs. Dwarka Prasad and ors.

Court : Rajasthan

Subject : Civil

Reported in : AIR2007Raj129; RLW2007(3)Raj2656

it, withdraw the application, whether made before or after the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 for the purpose of taking action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security … shall be in addition to, and not in derogation of, the Companies Act, 1956 (1 of 1956), the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Securities and Exchange Board of India Act, 1992 (15 of … 13 taken by the secured creditor or his authorised officer under this Chapter, (may make an application along with such fee, as may be prescribed)

Lalita Kumari Vs. Govt.of U.P.and ors.

Court : Supreme Court of India

Subject : Land Acquisition

the Constitution, which lays down the provisions relating to inconsistencies between the laws made by the Parliament and the State Legislatures. Article 254(1) is reproduced … recommendations of the Report of the 41st Law Commission and insertion of Section 13 of the Criminal Law (Amendment) Act, 2013 with effect from 03.02.2013.16) Mr. R.K. Dash, learned senior counsel appearing for the State of Uttar Pradesh, … would have power to inquire into or try under the provisions of Chapter XIII. (2) No proceeding of a police officer in any such case shall … the offence, there was sufficient ground for proceeding, the Magistrate was required to issue the necessary process to secure the attendance of the accused (Section 204 CrPC). The scheme of the Code thus was that the FIR

Mangalore Stock Exchange Vs. Securities and Exchange Board of India

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : Right to Information

Reported in : (2006)67SCL27SAT

stock exchange.12. Under the SCR Act, 1956 certain additional provisions were introduced with respect to appeal provisions by Securities Laws (Amendment) Ordinance, 2004. Certain orders passed by the Central Government were appealable to the Tribunal under the provisions of … ORDERS ON THE MAINTAINABILITY OF THE APPEAL BEFORE THE SECURITIES APPELLATE TRIBUNAL 1. We have heard the learned senior counsel for the appellant, Mr.Umesh Shetty, … the Central Government.38. The learned amicus curiae relied on text book on Administrative Law by Wayde & Forsyth, Chapter 11 of Part V, and submitted that an element which is essential to the lawful exercise of power

GSL (India) Ltd. Vs. Asset Reconstruction Co. (India) Ltd. and Others

Court : Mumbai

Subject : Land Acquisition

it, withdraw the application, whether made before or after the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 for the purpose of taking action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security … thereby. Prior to 1990, Banks and Financial Institutions were experiencing considerable difficulties in recovering loans and enforcement of securities charged with them. The then existing procedure for recovery of debts due to these Banks and Financial Institutions … (ze) to mean a debt which is secured by any security interest. Chapter II of this Act and which is not really germane to our … B.P. Colabawalla J. 1. Rule. Respondents waive service. By consent of parties, rule made returnable forthwith

Poonam Garg Vs. the Chief Manager, State Bank of Patiala and Another

Court : Delhi

Subject : Service Tax

it, withdraw the application, whether made before or after the Enforcement of Security Interest and Recovery of Debits Laws (Amendment) Act, 2004 for the purpose of taking action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security … shall be in addition to, and not in derogation of, the Companies Act, 1956 (1 of 1956), the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Securities and Exchange Board of India Act, 1992 (15 of … the ground of equity and hardship. Order of the Recovery officer under Chapter V of the RDDBFI Act would become absolute and binding if no