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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 … 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 … of Rs. 88,61,830.68 p. The petitioners filed reply to the notice on 18.10.2003 disputing their liability to pay the said amount. They asked for a

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), … Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993) and rules made thereunder.Under Section 18 of the Act of 2002. any person aggrieved, by any order made by the Debts Recovery Tribunal under

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 … Tribunal.- The fee for filing of an appeal to the Debts Recovery Appellate Tribunal under sub-section (1) of section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 shall be mutatis

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 … 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 … adjudicate the liability of the defendant and then it has to issue a certificate under Section 19(22). Under Section 18, the jurisdiction of any other court or authority which would otherwise have had jurisdiction but for the provisions

Keshavlal Khemchand and Sons Pvt Ltd and Ors Vs. Union of India and Or ...

Court : Supreme Court of India

Subject : Land Acquisition

|THE ENFORCEMENT OF SECURITY | |RECONSTRUCTION OF FINANCIAL ASSETS|INTEREST AND RECOVERY OF DEBTS | |AND ENFORCEMENT OF SECURITY |LAWS (AMENDMENT) ACT, 2004 | |INTEREST ACT, 2002 | | |2. Definitions |2. Definitions | | | | |(1) In this Act, … unlike international banks, the banks and financial institutions in India do not have power to take possession of securities and sell them. Our existing legal framework relating to commercial transactions has not kept pace with the changing … tribunal[6]. constituted under Act 51 of 1993 by following the procedure under Section 13 of the Act. Section 13(2) of the Act provides as follows:"2. … in this application."15. On the other hand, in another common judgment dated 18.5.14 in a batch of writ petitions, the Madras High Court rejected 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 … Quebec Railway, Light, Heat & Power Co. v. Vandry AIR 1920 PC 181. A construction which attributes redundancy to the Legislature will not be accepted

United Spirits Limited (Formerly Known as Shaw Wallace Distilleries) V ...

Court : Mumbai

Subject : Customs

Acts : Customs Act, 1962 - Sections 2(15), 9B, 11A, 11B, 11B(2), 12, 18, 18(1), 18(2), 18(3), 18(5), 26, 27, 27(1), 27A, 27(2), 27(3), 28, 28C, 28(3), 74, 75, 111, 115(2), 125, 125(1), 126 and 128(1); Central Excise Act, 1944; Taxation Laws (Amendment) Act, 2006; Central Excise and Customs Laws (Amendment) Act; Central Excise Rules, 1944 - Rule 9B, 9B(1) and 9B(5); Customs Rules

Reported in : 2009(6)BomCR401; 2009(111)BomLR2810; 2009(167)LC80(Bombay); 2009(240)ELT513(Bom)

of Sub-section (3) of Section 18 of the Customs Act, 1962 which has been inserted by the Taxation Laws (Amendment) Act, 2006 w.e.f. 13.07.2006. It is submitted that if the refund emanates out of finalization of the provisional assessment … , which has been confirmed by the Supreme Court and reported in 2004 (164) ELT 177 (SC). Further reliance is placed on the provisions of … to the Factory Manager of the Appellants. The Appellants made a request for release of the essences against security. However, the Officers of the Department indicated that it would not be possible. After exchange of correspondences, the

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 … 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 … be transferred under Section 31 of the Act and which falls within the jurisdiction of the Tribunal under Section 18 of the Act. Although, the definition of debt as given in the Act is a wide one, the

Sharadamma and ors. Vs. State of Karnataka and ors.

Court : Karnataka

Subject : Civil

Acts : Bangalore Development Authority Act, 1976 - Sections 2, 3, 4(2) 5(7A), 11, 14, 15, 15(2), 16, 16(2), 17, 17(1), 17(2), 17(3), 18, 18(1), 18(3), 19, 19(1), 28 to 32, 91, 92, 31, 36, 36(1), 36(3), 38, 38A, 64(1), 64(2), 67, 81A, 81B and 127(1); Karnataka Land Acquisition (Extension and Amendment) Act, 1961 - Sections 9 and 10; Karnataka Land Reforms Act, 1961 - Sections 63(7), 79A, 83, 95, 95(3), 95(4) and 109; Karnataka Town and Country Planning Act, 1961 - Sections 2, 2(4), 4A, 4A(1), 4A(3), 69(2) and 81B; Karnataka Municipal Corporations Act, 1976 - Sections 177, 503A, 503B and 503B(2); Land Acquisition Act, 1894 - Sections 3, 4, 4(1), 4(2), 5, 5A, 5A(2), 6, 9, 10, 16 and 16(2); Karnataka Municipalities Act, 1964 - Sections 159(4); Karnataka Panchayat Raj Act, 1993 - Sections 309 an

Reported in : ILR2005KAR3710; 2005(4)KarLJ481

Matched in: Advocate Jayaraj and Associates in W.P. Nos. 848-50 of 2005, ;Lawyers Inc in W.P. Nos. 260, 1986 and 1987-88 of 2005 and 10731-53, 41262-66, 42876-89 and 44374 of 2004, ;Lex Nexus, Adv. in W.P. No. 51461 of 20 S. Sujatha, Adv. for R-1 and 2 in W.P. No. 3135, 8795, 8796, 10418 and 10424 of 2005, for R-2 in W.P. Nos. 4567 and 4716 of 2005, for R-2 and 3 in W.P. Nos. 276-77, 1894-1895, 9130-9186, 2217-63, 9355

G. Sundarrajan Vs. the Union of India Rep. by the Secretary to Governm ...

Court : Chennai

Subject : Land Acquisition

Court has held as follows: "15. It is also well settled that laws of procedure are meant to regulate effectively, assist and aid the object … decision shall be binding on the parties concerned." 38.2. By an amendment brought in under the Atomic Energy (Amendment) Act, 1987, the definition of "Government Company" was incorporated as Section 1(bb), which is as follows: "Section 1(bb) Government … governed by: i. Atomic Energy (Radiation Protection) Rules, 2004 or 2005; ii. Industrial Radiography (Radiation Surveillance) Procedures, … 21 of the Constitution of India, every citizen is expected to know the steps taken and merely because Section 18 of the Atomic Energy Act creates a bar, it cannot be an embargo to the constitutional right. It … the violent activities of Udayakumar and to apprehend him under the National Security Act. Likewise, and W.P.(MD) No.2485 of 2012 has been filed seeking a