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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were not repealed by the Indian Income-tax Act but by the Taxation Laws (Extension to Merged States and Amendment) Act 67 of 1949.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 … is concerned, includes mortgage, charge, hypothecation 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 is the special Act whose provisions … ORDER, 2004. (ii) It shall come into force at once.2. Definition. - Debts Recovery … of 2004 which, as stated above, came into force with effect from 11.11.2004. As stated above, by the said amending Act 30 of 2004 an

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), … founded on public policy, but it is not the same as the rule of res judicata contained in Section 11 of the Code which provides that no Court shall try any suit or issue in which the matter

Coimbatore Stock Exchange Limited Represented by Its Director Ashok Lu ...

Court : Chennai

Subject : Company

Acts : Securities and Exchange Board of India Act, 1992 - Sections 10E(5), 10E(6), 11, 11(2), 11A, 11B, 15T, 19, 20, 29, 68, 85B(1), 94A, 105B to 105E, 234, 235, 236, 237 and 642(1); Companies Act, 1956 - Sections 169; Securities Contracts Regulation Act, 1956 - Sections 2, 3, 3(2), 4, 4(5), 4A, 4B, 5, 5(2), 11, 11(1), 11(2), 11(4), 12A, 19, 22, 22A, 23G, 23L, 29, 29A and 30; Securities Contracts Regulation Rules, 1957 - Rules 6, 7, 416, 421, 422 and 427; Securities and Exchange Board of India Rules; Securities and Exchange Board of India Regulations; Reserve Bank of India Act, 1934 - Sections 3; Banking Regulation Act, 1949 - Sections 45; Taxation on Income (Investigation Commission) Act, 1947 - Sections 5(1) and 5(4); Income Tax (Amendment) Act, 1964; Public Utility Holding company Act of

Reported in : [2007]137CompCas863(Mad); [2007]74SCL1(Mad)

as being wholly arbitrary, illegal and ultra vires the provisions of the Securities Contract (Regulation) Act and Securities and Exchange Board of India Act and … the same volume at p.787 where Section 5(1) of the Act was struck down after the Income Tax (Amendment) Act XXXIII of 1964 was enacted. These decisions, however, cannot avail the petitioners for the reasons for which these … that was statutorily mandated. But the process which began in the year 2004 has till date not been completed because even by 1999, there was … of proceeding further in that regard, had issued a show cause notice in exercise of its powers under Section 11 of the SEBI Act as to show cause as to why the Governing Body of CSX ought not

Dsq Securities Ltd. Vs. Securities and Exchange Board of India

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

Subject : Land Acquisition

Reported in : (2006)67SCL51SAT

action of the SEBI in issuing directions in accordance with Section 11 and 11B as amended by SEBI Amendment Act, 2002 which came into force on 29.10.2002 read with Regulation 11 of FUTP Regulations 2003 is unconstitutional. 2. … thereupon whichever is later. 3. Shri Dinesh Dalmia, Managing Director, of the company be debarred from dealing in securities for a period of one year or completion of investigation and action thereupon whichever is later. Subsequently SEBI … Items (iii), (iv) and (v) of the impugned order dated 9th September, 2004 stand modified accordingly. (n) Items (i) and (ii) of the impugned order

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 were passed by SEBI under section 19 read with section 4(4) of SCR Act, 1956 read with section 11(1) of the SEBI Act. The operative portion of the impugned order reads as follows: "SEBI is mandated to

Sri R Ranganatha Vs. Indian Bank

Court : Karnataka

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 … from any person or a pooled investment vehicle as defined in clause (da) of Section 2 of the Securities Contracts (Regulation) Act, 1956,]. by a bank or a financial institution or by a consortium of banks or … I Stage, Bengaluru by way of a registered sale deed on 19.05.1999. 11 To construct a house on the said site, the petitioner applies for

M/s. Eveready Industries India Ld., Chennai Vs. The Customs, Excise an ...

Court : Chennai

Subject : Service Tax

that Sub-Section (5) and the Explanation thereunder, though inserted by Section 11 of the Customs and Central Excise Laws (Amendment) Act, 1988, got repealed in 2004. 21. In support of his contention that Sections 11A and 35E are independent … a provisional basis as per Rule 9B of the Central Excise Rules, 1944 by executing a bond with security in the form of bank guarantee. (ii) In order to finalise the assessment, the Assistant Commissioner issued a

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

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 … as on 23.1.2004 whereas the amendment Act came into force only on 11.11.2004. It is also stated in the counter affidavit that the writ petitioner … a pre requisite for a Bank 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 (for short 'Securitisation Act') after 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 … 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