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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 … 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 … with establishment of Tribunal and Appellate Tribunal and Chapter-Ill provides for the jurisdiction, powers and authority of Tribunals. Chapter-IV of the Act deals with the procedure for making Applications before the Tribunals. Section 19 of the RDB

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 … jurisdiction to decide Applications filed by Banks and Financial Institutions for recovery of their debt. 29. Thereafter comes Chapter IV which comprises of sections 19 to 24 and deals with the procedure to be followed by the DRT … 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

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, … by delivering a possession notice prepared as nearly as possible in Appendix IV to these rules, to the borrower and by affixing the possession notice

Sahir Shah Vs. Bank of India

Court : Kerala

Subject : Civil

Acts : Securitisation and Reconstruction Financial Assets and Enforcement of Security Interest Act, 2002 - Sections 3, 13, 13B, 13(2), 13(4), 17 and 37; Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 17 and 19; Enforcement of Security Interests and Recovery of Debts Laws Amendment Act, 2004 - Sections 19 and 19(1); Securitisation and Reconstruction Financial Assets and Enforcement of Security Interest Rules, 2004 - Rule 9 and 9(1)

Reported in : AIR2006Ker42; II(2006)BC386; [2007]138CompCas745(Ker); 2006(1)KLT161; [2006]66SCL14(Ker)

the insertion of the proviso to Section 19 of the Enforcement of Security Interests and Recovery of Debts Laws Amendment Act, 2004, is the question that has come up for consideration in this case.2. Bank of India, respondent herein, filed … application filed under this sub-section, it shall pass such orders after recording the reasons therefor.Section 19 appears in Chapter IV of the RDB Act which deals with the procedure of Tribunals. Section 19(1) lays down the procedure with … or Financial Institution to invoke the provisions of Section 13B of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

Delhi High Court Bar Association and anr Vs. Govt of Nct of Delhi and ...

Court : Delhi

Subject : Land Acquisition

the Legislative Assembly of Delhi was constituted with the powers to make laws with regard to any of the matters in the State List or … - Mahatma Gandhi 1. The instant writ petitions challenge the constitutionality and validity of the Court Fees (Delhi Amendment) Act, 2012 ―Delhi Act 11 of 2012‖ whereby the Legislative Assembly of the National Capital Territory of Delhi has … Act, 2003 as well as the Delhi Municipal Corporation (Property Tax) Bye-Laws, 2004 and a prayer was made that both be declared as unconstitutional and … is true of W.P.(C)No.4770/2012 page 70 of 531 Chapter I of Part XI of the Constitution as … aids to construction of legislation?. (paras 211 -222) IV Is the assent of the President justiciable?. Scope … be listed on 26th September, 2012 when the following order was passed by the Supreme Court: ―Taken on board. Issue notice on the special leave petitions as also on the petitioners‘ prayer for interim relief, returnable on

Delhi High Court Bar Association and anr. Vs. Govt. of Nct of Delhi an ...

Court : Delhi

Subject : Land Acquisition

the Legislative Assembly of Delhi was constituted with the powers to make laws with regard to any of the matters in the State List or … - Mahatma Gandhi 1. The instant writ petitions challenge the constitutionality and validity of the Court Fees (Delhi Amendment) Act, 2012 ―Delhi Act 11 of 2012‖ whereby the Legislative Assembly of the National Capital Territory of Delhi has … Act, 2003 as well as the Delhi Municipal Corporation (Property Tax) Bye-Laws, 2004 and a prayer was made that both be declared as unconstitutional and … is true of W.P.(C)No.4770/2012 page 70 of 531 Chapter I of Part XI of the Constitution as … aids to construction of legislation?. (paras 211 -222) IV Is the assent of the President justiciable?. Scope … be listed on 26th September, 2012 when the following order was passed by the Supreme Court: ―Taken on board. Issue notice on the special leave petitions as also on the petitioners‘ prayer for interim relief, returnable on

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 … to the proceedings pursuant to the notice under Rule 8(1) of Appendix IV of the SARFAESI Act, 2002 dated 17.11.2011 issued by the first respondent … 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

Central Bank of India Vs. State of Kerala and ors.

Court : Supreme Court of India

Subject : Sales Tax/VAT

Acts : Bombay Sales Tax Act, 1959 - Sections 38C and 39; Kerala General Sales Tax Act, 1963 - Sections 2, 2(2) and 26B; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 2, 2(1), 13(4), 13(10), 13(12), 11(2), 17, 17(1), 17(2), 17(5), 18, 19(1), 19(6), 19(7), 19(8), 19(12), 19(13), 19(18), 19(19), 20(1), 21, 22, 25, 28, 29, 31(1), 31A, 34(1), 36 and 37; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2000; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2004; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 2, 3 to 12, 13, 13(1), 13(2), 13(3A), 13(4), 13(7), 13(9), 13(10), 13(12), 34(1), 35 and 38(1); Kerala Revenue Recovery Act, 1968 - Sectio

Reported in : [2010]153CompCas497(SC); JT2009(3)SC216; 2009(3)SCALE451; (2009)4SCC94; (2009)12VatReporter137; (2009)21VST505(SC); JT2009(1)SC216; [2009] 3 SCR 735

date of the application.' After the amendment of 2004, 'debt' means 'any liability (inclusive of interest) which … the Constitution of India in relation to matters specified in Section 17. Section 19, which finds place in Chapter IV of the DRT Act contains procedure required to be followed by the Tribunal for deciding an application made … and empowering the banks and financial institutions to take possession of the securities and sell them without intervention of the court. In the backdrop of … creditors and overriding effect has been given to these legislations vis-a-vis other laws, the provisions contained therein will have primacy over State legislations which have … passed by any court before the commencement of the Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2000 and the same had not been executed, then the decree-holder can apply to the Tribunal for recovery

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 … State of M.P. and Anr. reported in : [1994]3SCR842 , in Paragraph 4 the Hon'ble Supreme Court observed that the principles of natural justice does

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 … respondent was entitled to recover Rs.6,88,187.49 from the appellant within four weeks 4 of the order. The respondent was also granted liberty to file appropriate