Advanced Search Results

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 … amendments made to Sections 17 and 18 of this Act by Sections 10 and 12 of the said Act were in force at all material … as 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

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 … 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 … has since being substituted by the term 'application' by virtue of Section 10(a)(i) of the Amending Act of 2004. Section 17 of the Act of 2002 reads as follows:17. Right to appeal :- (1) Any person (including borrower),

Bhishma N. Thakore Vs. Dena Bank

Court : Gujarat

Subject : CompanySICA

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 5(1), 13, 13(2), 13(4), 13(3A), 13(10), 35, 37 and 41; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 19, 19(1), 19(15) and 24; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 15, 15(1), 22 and 22(1); Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; Limitation Act, 1963; Constitution of India - Article 226; Code of Civil Procedure (CPC) - Order 23, Rule 1(3)

Reported in : [2007]80SCL44(Guj)

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 … respondent Dena Bank ('the Bank') in issuing notice for remittance of its dues under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('the Act of 2002').2. It is

Tensile Steel Ltd. and anr. Vs. Punjab and Sind Bank and ors.

Court : Gujarat

Subject : SICA

Acts : Companies Act, 1956; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 5(1), 13, 13(2), 13(3A), 13(4), 13(10), 14, 17, 35, 37 and 41; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 19, 19(1), 19(15) and 24; Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; Limitation Act, 1963; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 15, 15(1), 22, 22(1) and 22(5); Code of Civil Procedure (CPC) - Order 23, Rule 1(3); Constitution of India - Article 226

Reported in : AIR2007Guj126; [2007]139CompCas359(Guj); [2007]79SCL570(Guj)

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 … 2006 (1) ISJ Banking 263 : 2006 CLC 89 held that (Para 10) '....It is not mandatory on the part of the Bank or Financial … to the Company. The Company challenges the action of the Bank in initiating the recovery proceeding under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as. 'the Act … order of the District Magistrate, Vadodara made on 4th January, 2005 under Section 14 of the Act of 2002.3. Mrs. Mehta has submitted that, the

Transcore Vs. Union of India (Uoi) and anr.

Court : Supreme Court of India

Subject : Banking

Acts : Debts Recovery Tribunals Act, 1993 - Sections 2, 3(1), 17, 19, 19(1), 19(6), 19(7), 19(8), 19(12), 19(13), 19(18), 19(19), 19(25), 20, 21, 24, 25, 28 and 29; Debts Recovery Tribunals (Amendment) Act, 2004 - Sections 5A, 13(3A) and 17(1); Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 2, 5, 5A, 6, 9, 10, 11, 12, 13, 13(1), 13(2), 13(3), 13(3A), 13(4), 13(4A), 13(6), 13(7), 13(8), 13(9), 13(10), 13(11), 13(13), 14, 17, 17(1), 17(2), 17(3), 17(4), 18, 18(1), 22, 31, 35, 36, 37, 40 and 40(1); Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; Transfer of Property Act, 1882 - Sections 69 and 69A; State Financial Corporations Act, 1951 - Sections 29 and 31; Limitation Act, 1963; Companies

Reported in : AIR2007SC712; 2007(1)ALD109(SC); I(2007)BC33(SC); [2007]135CompCas1(SC); (2007)1CompLJ1(SC); 2006(5)CTC753; 135(2006)DLT151(SC); (2007)1MLJ929(SC); 2006(12)SCALE585; (2008)

were not repealed by the Indian Income-tax Act but by the Taxation Laws (Extension to Merged States and Amendment) Act 67 of 1949. Owing to this, the depreciation actually allowed under the laws of the merged States could … etc. except those specified in Section 31 which excludes ten types of securities from the purview of NPA Act. He submitted that the NPA Act … ORDER, 2004. (ii) It shall come into force at once.2. Definition. - Debts Recovery … Order related to the removal of a difficulty which had arisen in giving effect to the provisions of Section 10(2)(vi) Proviso (c) and Section 10(5)(b) of the 1922 Act, corresponding to Section 34(2)(i) and Section 43(6)(b) of the

Digivision Electronics Ltd. Vs. Indian Bank, Rep. by Its Deputy Genera ...

Court : Chennai

Subject : Banking

Acts : Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 2 and 19(1); Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) - Sections 13(1), 13(2), 13(3A), 13(4), 13(10), 17, 17(1) and 17(2); Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; ;Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Removal of Difficulties) Order, 2004 - Rule 3; Constitution of India - Article 226

Reported in : IV(2005)BC502; [2005]126CompCas630(Mad); 2005(3)CTC513; (2005)3MLJ394; [2005]63SCL714(Mad)

inserting Clause 3-A in Section 13 was made by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 w.e.f.11.11.2004, but the position was the same even before this amendment in view of the observations made by … Mohd. Ghulam Ghouse : 2004(164)ELT141(SC) , Ulagappa v. Divisional Commissioner, Mysore (2001) 10 SCC 639 Executive Engineer, Bihar State Housing Board v. Ramesh K.Singh & … ORDERMarkandey Katju, C.J. 1. All the above writ petitions relate to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the Securitisation

Wardhaman Samjibhai Dharamsi and anr. Vs. Bank of Maharashtra

Court : Mumbai

Subject : Banking

Acts : The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 2, 13, 13(2), 13(4), 13(10), 17, 22(1), 22(2), 34, 35, 36, 37 and 37(2); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 19, 19(1) and 34; State Financial Corporations Act, 1951 - Sections 29 and 31; Limitation Act, 1963; Recovery of Debts Laws (Amendment) Act, 2004; Companies Act, 1956; Securities Contracts (Regulation) Act, 1956; Securities and Exchange Board of India Act, 1992; Uttar Pradesh Public Moneys (Recovery of Dues) Act, 1972; Code of Civil Procedure (CPC)

Reported in : 2006(2)ALLMR218; 2006(1)BomCR394

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 … be in addition to, and not in derogation of, the Companies Act, 1956 (1 of the 1956), the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Securities and Exchange Board of India Act, 1992 (15 of … issued under Section 13(2) of the Securitisation Act, took symbolic possession on 10-11 -2004 of the property which the petitioners contend was allegedly mortgaged with … alleged loan to petitioner No. 2, the respondent bank issued notice under Section 13(2) of the Securitisation Act dated 21-7-2004. By the notice the petitioners

Kamaldeep Synthetic Ltd., by Managing Director V. Nandakumar Vs. Indus ...

Court : Chennai

Subject : Banking

Acts : Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 19 and 19(1); Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13, 13(2), 13(4), 13(10), 17, 17(2), 29, 31, 32, 34, 35 and 36; Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; Limitation Act, 1963; State Financial Corporation Act - Sections 3 and 31; Constitution of India - Article 226

Reported in : [2007]139CompCas52(Mad); (2007)1CompLJ190(Mad)

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 … directing the petitioner to nominate its members, but also vetted and approved the names of independent Directors, thereby securing majority for its nominee and independent Directors, effectively and factually interfered in all the affairs of the petitioner … the parties has not vested any right on the respondent to invoke Section 19 of the Recovery of Debts Due to Banks and Financial Institutions

M/S Anita International Vs. Tungabadra Sugar Works Maz.Sangh and Ors.

Court : Supreme Court of India

Subject : Company

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 … motion, the creditor concerned is to approach the Company Court for appropriate directions regarding the realisation of its securities consistent with the relevant provisions of the Companies Act regarding distribution of the assets of the company-in-liquidation.” (emphasis … of the sale proceedings at the hands of the Recovery Officer, under Section 529A of the Companies Act. It would be relevant to mention, that … leave to the State Bank of Mysore, passed the following order on 10.3.2000 (while disposing of Company Application Nos. 1251-1253 of 1999):“This company application praying

D. Srikanth Vs. Industrial Development Bank of India

Court : Andhra Pradesh

Subject : Company

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 5, 5(2), 5(4), 13, 13(1), 13(2), 13(4), 13(10), 31, 35 and 37; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 19(1); Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 15(1); Transfer of Property Act, 1882 - Sections 69 and 69A; Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; National Prosecuting Authority Act - Sections 13; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2004; Code of Civil Procedure (CPC) - Order 23, Rules 1(3), 1(1)(4), 2 and 3

Reported in : [2007]79SCL511(AP)

withdraw the application whether made before or after the enforcement of the Security Interest and Recovery of Debts Laws (Amendment) Act, 2004, with the permission of the DRT, for the purpose of taking action under the Act. On 8-1-2005 the … 1st respondent-bank. He assails a letter dated 9-3-2007 issued by the 2nd respondent, invoking the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act'), in respect … place, as yet.3. On 30-8-2006, the 2nd respondent issued a notice under Section 13(2) of the Act to the petitioner, intimating that under an agreement