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Ghanta Infrastructures Ltd., a Company Incorporated Under the Provisio ...

Court : Andhra Pradesh

Subject : Company

Acts : Banking Regulation Act, 1941 - Sections 22 and 22(3); Assam Control Order, 1961; Bombay Tenancy Act, 1939; Company Court Rules, 1959 - Rule 79; Constitution of India - Articles 12, 14, 19(1), 32, 226 and 300A; Code of Criminal Procedure (CrPC) , 1973 - Sections 313; Enforcement of Security Interest and Recovery of the Debts Laws (Amendment) Act, 2004; Evidence Act, 1872 - Sections 78(2) and 81; Companies Act, 1956 - Sections 4A, 81, 91, 100, 190, 224 to 233, 235 to 351, 391-394, 433, 617, 619 and 643; Companies Act, 1913 - Sections 153; Indian Contract Act, 1872 - Sections 172; Industrial Courts Act, 1919; Industries (Development and Regulation Act, 1951; International Finance Corporation (Status, Immunities and Privileges) Act, 1958; Madras Agriculturalists' Relief Act; Recovery of

Reported in : 2008(2)ALT611

3(3)(h) of the Act has been introduced by the Enforcement of Security Interest and Recovery of the Debts Laws (Amendment) Act 2004. Section 2 of the Act deals with Definitions and Section 2(b) defines 'asset reconstruction' as:Unless the context otherwise requires … and ICICI Bank in relation to the financial assets and the underlying securities vested in the ARCIL by other Banks such as S.B.I., Punjab National … this Act.Explanation: For the purposes of this Section, 'securitisation company' or 'reconstruction company' does not include a subsidiary.(viii) Section 12 empowers the Reserve Bank of India to determine the policy and issue directions to Securitisation Companies and Reconstruction

Solaris System Pvt. Ltd. Vs. Oriental Bank of Commerce

Court : Kerala

Subject : Banking

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13, 13(2) and 14; Code of Criminal Procedure (CrPC) - Sections 8, 12, 17 and 482; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 19 and 19(1); Transfer of Property Act, 1882 - Sections 69, 69A, 69(2) and 69(4); Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; Securities and Exchange Board of India Act, 1992; Companies Act, 1956 - Sections 37; Securities Contracts (Regulation) Act, 1956

Reported in : IV(2006)BC536; 2006(3)KLT121; [2006]72SCL168(Ker)

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 … 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 … Chief Judicial Magistrate to be appointed by the High Court from among the Judicial Magistrates of First Class (Section 12 of the Code). If the area is declared as Metropolitan, the Judicial Magistrates will be designated as Metropolitan

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 … 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 … on Raj Kumari Amrit Kaur v. Maharani Deepinder Kaur and Ors. (2001-3) 129 Punjab Law Reporter 808, Om Parkash v. lnderawati and Ors. (2002-2)135 Punjab

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)

Matched in: Citation 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)

indusind Bank Ltd. Vs. Deva Tools and Forgings

Court : DRAT Delhi

Subject : Land Acquisition

Reported in : I(2005)BC97

has taken place. The Government of India have issued the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Ordinance, 2004 (No. 5 of 2004) amending certain provisions of the Securitisation Act as also the Act of … 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 … slay such proceedings to be taken in pursuance of a notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of … be considered for decision in the other appeals like Miscellaneous Appeals 72/2003, 122/2004, 141/2004, etc.4. Accordingly, I took up these questions for consideration in Miscellaneous

Securities and Exchange Board of India Vs. Gaurav Varshney and Anr.

Court : Supreme Court of India

Subject : Land Acquisition

venture capital funds or collective investment scheme operating in the securities market immediately before the commencement of the Securities Laws (Amendment) Act, 1995 for which no certificate of registration was required prior to such commencement, may continue to operate till … … Respondent JUDGMENT Jagdish Singh Khehar, J.Criminal Appeal nos. 827-830 of 2012 1. Sub-Section (1B) was inserted into Section 12 of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as, the SEBI Act), on

Sebi Vs. Dsq Biotech Ltd.

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

Subject : Land Acquisition

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

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 … of the Act in O.A.No.487 of 2014. It is germane to notice 12 the cause of action, inter alia pleaded by the Bank before the

D.Prakasam, So.Viswanatham and Two OThe Vs. the Chief Manager, Allahab ...

Court : Andhra Pradesh

Subject : Banking

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Sections 13(2), 13(3A), 17, 13(4), 17A, 17(1), 13(3)(A).

supplied)8. After the decision of the Supreme Court by the Enforcement of Security Interest and Recovery of debts Laws (Amendment) Act, 2004, the Parliament inserted sub-Section (3A) to Section 13. For ready reference, we quote hereunder sub-Sections (1) to (3A) … Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest empowering the banks to take possession of securities and to sell them without intervention of the Court. It is intended to provide fast track remedies to

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