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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 … on the Bank under Section 13(4) of the Act read with Rule 9 of the Rules, on 22.2.2004. Later District Collector also passed an order … 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

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were not repealed by the Indian Income-tax Act but by the Taxation Laws (Extension to Merged States and Amendment) Act 67 of 1949.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 … Definition. - Debts Recovery Tribunal (Procedure) Rules, 1993 means the Debts Recovery Tribunal (Procedure) Rules, 1993 made under Section 9 read with Clause (e) of sub-section (2) of Section 36 of the Recovery of Debts Due to Banks

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), … Section 13(2) of the said Act of 2002 under a communication dated 9-5-2006. In the said reply mainly two contentions were raised. Firstly, it was

Asset Reconstruction Company (India) Limited Rep. by Its Vice Presiden ...

Court : Chennai

Subject : Company

Acts : Securitisation and Re-construction of Financial Assets and Enforcement of Security Interest Act, 2002 - Sections 3, 5, 5(1), 9, 13, 13(2), 13(4), 13(9), 20(4), 34, 35, 37 and 39; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 3(1), 15, 20(1) and 20(4); Companies Act, 1956 - Sections 424A, 442, 446, 456, 457, 457(1), 457(2), 529, 529A, 529(1), 530 and 537; Transfer of Property Act, 1882 - Sections 69 and 69A; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 17(2), 17A and 19(19); State Financial Corporations Act, 1951 - Sections 29 and 31; Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Ordinance, 2004

Reported in : [2006]134CompCas267(Mad); 2006(3)CTC529; (2006)2MLJ822; [2006]72SCL18(Mad)

for revival and rehabilitation submitted before the commencement of the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Ordinance, 2004, such a reference shall abate if the secured creditors representing three fourth in value of the … is to approach the Company Court for proper directions for realizing its securities. In such a case, the Assets Reconstruction Company has no locus standi … Securitisation Act.5. In reply, Mr. Arvind P.Datar, learned Senior Counsel for the respondent submitted that the power under Section 9 of the Securitisation Act is without prejudice to the provisions contained in any other law. In other words,

Kirandevi Bansal Vs. D.G.M., Small Industries Development Bank of Indi ...

Court : Gujarat

Subject : Banking

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13(2), 13(3A), 13(4), 13(13), 17, 17(2) and 17A; Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 - Sections 13(3A); Transfer of Property Act, 1882 - Sections 69 and 69A; Companies Act, 1956 - Sections 529(1) and 529A; Industrial Disputes Act, 1947 - Sections 17(1); Consumer Protection Act, 1986 - Sections 13(2); Security Interest (Enforcement) Rules, 2002 - Rule 3A; Prevention of Food Adulteration Rules, 1955 - Rules 7(3) and 9; Constitution of India - Article 14

Reported in : AIR2009Guj100

of the Act. Consequently, Sub-section (3A) was inserted by The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 (30 of 2004) with effect from 11.11.2004.7. The relevant provisions which are necessary for our consideration are extracted … assets, manage problem of liquidity, asset liability mismatches and improve recovery by exercising powers to take possession of securities, sell them and reduce non-performing assets by adopting measures for recovery or reconstruction. The Act further provides for … in communicating the rejection of the representation. Special Leave Petition (Civil) No. 9548 of 2007 filed against that judgment was dismissed, by the Apex Court.12.

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 … Allahabad Bank, a secured creditor with whom certain properties were mortgaged, filed Original Application No.153 of 1999 under Section 9 of the RDB Act for recovery of a sum of Rs 39,93,47,701 with interest from the Company, namely,

Sh. Sunder Lal Gupta vs M/S Sahyog Hospitality and Others Through Its ...

Court : Delhi

Subject : Land Acquisition

as follows: “9. Pursuant to this 246th Report, sub-section (2) to Section 17 was added by the 2015 Amendment Act, so that the cumbersome procedure of an Arbitral Tribunal having to apply every time to the High Court … OMP (ENF.) (COMM.) 284/2025 Page 6 of 15(2) The arbitral tribunal may require a party to provide appropriate security in connection with a measure ordered under sub-section (1).”18. By virtue of the 2015 Amendment Act, Section 17

PNL Depositors' Welfare Association, Registered No. 94/2005, rep. by S ...

Court : Chennai

Subject : SICACivil

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13, 13(4), 13(6), 17, 17(1), 37 and 41; Reserve Bank of India Act, 1934 - Sections 45(MC) and 45(QA)(2); Pondicherry Protection of interests of Depositors in Financial Establishments Act, 2004 - Sections 3, 4(1), 5 and 6; Companies Act; Pondicherry Revenue Recovery Act, 1970; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 15(1); Industrial Disputes Act, 1947 - Sections 25FF; Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004; Constitution of India - Articles 21 and 226; Security Interest (Enforcement) Rules, 2002 - Rules 8, 9 and 9(3)

Reported in : 2005(4)CTC469; [2005]64SCL115(Mad)

refer to Sections 13(4) and (6) as amended by the Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004, which reads as under:'13(4). In case the borrower fails to discharge his liability in full within the period … (Petitioner in W.P. No. 10077 of 2005) (hereinafter referred to as 'Indian Bank') under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, 'SARFAESI Act').2. W.P. No. … respondents, namely, New Horizons Sugar Mills Limited, to exercise their discretion under Section 13(4)(c) and 13(4)(b) of the SARFAESI Act, instead of straight away initiating … Enforcement of Security Interest Act, 2002 (in short, 'SARFAESI Act').2. W.P. No. 9834 of 2005 has been filed by PNL Depositors' Welfare Association. The prayer

G. Murali Krishna and anr. Vs. State of A.P. Rep. by Assistant Commiss ...

Court : Andhra Pradesh

Subject : Civil

Acts : Constitution of India - Articles 14 and 20(1); Criminal Law Amendment Ordinance, 1944 - Sections 2, 2(1), 3, 4, 4(2), 4(3), 4(4), 5, 5(2), 6, 7, 8, 9, 9A, 10, 11, 12, 13, 14 and 15; Criminal Law Amendment Act, 1952; Government of India Act, 1935 - Sections 72; Prevention of Corruption Act, 1947 - Sections 5(1) and 5(2); Evidence Act 1872 - Sections 17, 61 and 62; Indian Penal Code (IPC) - Sections 420 and 468

Reported in : 2007(5)ALT45

Execution of orders of attachment. Section 8 of the Ordinance deals with Security in lieu of attachment. Section 9 of the Ordinance deals with Administration … been constituted and power has been constituted and power has been conferred upon that Court under Criminal Law Amendment Act, 1952 and Prevention of Corruption Act, 1947, to go into this question, the same enquiry cannot be conducted … The respective appellants herein filed I.A. Nos. 1841, 1842 and 1843 of 2004 for raising the said attachment.6. The stand taken by the appellants/ applicants … with Execution of orders of attachment. Section 8 of the Ordinance deals with Security in lieu of attachment. Section 9 of the Ordinance deals with Administration of attached property. Section 9-A of the Ordinance deals with Administration of

Badrinarayan Shankar Bhandari and Others Vs. Ompraskash Shankar Bhanda ...

Court : Mumbai

Subject : Banking

Constitution. In view of Article 246 of the Constitution of India the laws made by the above mentioned five States, would stand repealed to the … referred for our opinion:- (a) Whether Section 6 of the Hindu Succession Act, 1956 as amended by the Amendment Act, 2005 is prospective or retrospective in operation? (b) Whether Section 6 of the Hindu Succession Act, 1956 as … of property which had taken place before the 20th day of December, 2004. (2) Any property to which a female Hindu becomes entitled by virtue … para 23 of the judgment) On failure to repay the loan, the bank initiated recovery proceeding under the Securitization Act. The daughters then filed a suit, claiming to be entitled to 2/3rd of the property as their … to daughters born after 17.6.1956 and prior to 9.9.2005? (d) Whether Section 6 of the Hindu Succession