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V. Sambandan Vs. The Punjab National Bank Rep. by its Chairman cum Man ...

Court : Chennai

Subject : Land Acquisition

Second respondent bank has issued another letter dated 14.09.2009, stating that in terms of Rule 9(5) of the Security Interest (Enforcement) Rules, 2002 (Hereinafter referred to as "the Rules"), read with the terms and conditions of the auction dated 17.07.2009, a … properties by the Bank, and Rules 9(7) to 9(10) deal with sale of encumbered properties. 9. Referring to Appendix IV in the said Rules, learned counsel for the appellant further submitted that the said Appendix unambiguously states … order dated 28.10.2009 in W.P.No.19557/2009, the writ court, at paragraph Nos.11 and 12 ordered as follows: "11. It must be noted that the contentions raised

Present: Mr. Manish JaIn Advocate Vs. the Authorized Officer, Uco Bank ...

Court : Punjab and Haryana

Subject : Land Acquisition

a possession notice under Section 13(4) and 13(12) of the SARFAESI Act read with Rule 8 of the Security Interest (Enforcement) Rules, 2002 (in short 'the Securitisation Rules') dated 06.12.2011 on 08.12.2011 (Annexure P-9) mentioning six properties pertaining to the hospital … presence of two witnesses after a Panchnama drawn and signed by the witnesses as nearly as possible in Appendix I to these rules. (2) After taking possession under sub-rule (1) above, the authorised officer shall make or

Mathew Cyriac, vs India Bulls Housing Finance Limited.,

Court : Kerala

in this behalf.7. The petitioners being aggrieved persons are requiredto file application as prescribed by Rule 12 of Security Interest (Enforcement) Rules 2002 ('Rules 2002' for short) read with Appendix VI. Sl. No.4 deals with limitation. The application is filed in

Shakeena and Vs. Bank of India and ors.

Court : Chennai

Subject : Company

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13, 13(2), 13(4), 13(8), 17, 35 and 37; Companies Act, 1956; Securities Contracts (Regulation) Act, 1956; Securities and Exchange Board of India Act, 1992; Recovery of Debts Due to Banks and Financial Institutions Act, 1993; Transfer of Property Act - Sections 54, 60, 69, 69(3) and 69A; Indian Registration Act - Sections 17; Uttar Pradesh Sales Tax Act; Constitution of India - Article 226; Income Tax Rules - Rule 60; Security Interest (Enforcement) Rules, 2002 - Rules 3, 4, 9, 9(3), 9(4), 9(5), 9(6) and 9(7); Security Interest (Enforcement) Rules, 2003 - Rule 9

Reported in : AIR2008Mad10; [2007]138CompCas976(Mad)

1993 (51 of 1993) or any other law for the time being in force.8. Rule 9 of the Security Interest (Enforcement) Rules, 2002, read as under:Rule 9. Time of sale, issue of sale certificate and delivery of possession, etc. - (1) … a certificate of sale of the immovable property in favour of the purchaser in the form given in Appendix-V to these rules.(7) Where the immovable property sold is subject to any encumbrances, the authorised officer may if … entire sale consideration on January 4, 2006; that a sum of Rs. 12,40,000 was given credit to the loan account of the petitioner in W.P.

Lakshmi Mohan Vs. Airtech Projects Engineers Pvt. Ltd.

Court : Chennai

Subject : Land Acquisition

to the valuation done on 14.10.2008. Thus, there was a failure to comply with Rule 8(5) of the Security Interest (Enforcement) Rules, 2002 and the Bank had proceeded to sell the property in contravention of Rule 8(5) of the Rules. There … the Authorised Officer takes possession of the secured asset, he shall deliver the possession notice prepared as per Appendix IV to the Rule to the borrower One of the modes specified on the service of notice is … Shakthi Associates. The petitioner served notice of possession and sale notice dated 12.11.2008 on the borrower. The petitioner took possession of the secured asset on

Kunhippa vs the Kerala State Co-Operative Bank Ltd

Court : Kerala

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE SALE NOTICE ISSUEDBY THE 2ND RESPONDENT UNDER RULE 8(6) OF SECURITY INTEREST (ENFORCEMENT) RULES,2002 DATED 12.02.2024 ISSUED TO THE PETITIONER Exhibit P2 TRUE COPY OF THE NOTICE DATED 28.02.2024 ISSUED BY … shall stand deferred till the Bank takes a decision in the matter. Sd/- N. NAGARESH JUDGE ams :5: APPENDIX OF WP(C) 11267/2024 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE SALE NOTICE ISSUEDBY THE 2ND RESPONDENT UNDER

S. Ravi Kanth and anr. Vs. A.P. Mahesh Co-operative Urban Bank Ltd. an ...

Court : Andhra Pradesh

Subject : Civil

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 2, 13, 13(1), 13(2), 13(4), 13(4A), 13(5), 13(8), 14, 14(1), 14(2), 14(3), 17, 17(1), 17(3), 17A, 18, 18A, 18B, 19, 40 and 40(1); Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Amendment) Act, 2004; Transfer of Property Act, 1882 - Sections 81; Multi State Cooperative Societies Act, 2002 - Sections 84; Debts Recovery Tribunal Act - Sections 19; Recovery of Debts Due to Banks and Financial Institutions Act, 1993; Terrorist and Disruptive Activities Act; Security Interest (Enforcement) Rules, 2002 - Rules 8, 8(1), 8(2), 8(4), 9, 9(4), 9(5), 9(6), 9(7) and 9(9); Debts Recovery Tribunal (Procedure) Rules, 1993 - Rule 7; Securiti

Reported in : 2008(1)ALT225

said Flat. It may be appropriate to have a look at Rule 8 and Rule 9 of the Security Interest (Enforcement) Rules, 2002. Rule 8 dealing with sale of immovable secured assets reads as hereunder:(1) Where the secured asset is an … movable secured assets shall be liable to be ordered for sale again.Para 2 and para 3 of the Appendix IV [Rule 8(1)] read as follows:The borrower having failed to repay the amount, notice is hereby given to … and hence it is a State within the meaning of the Article 12 of the Constitution of India. While narrating the brief facts which led

Arun Kumar Arora and anr. Vs. Union of India (Uoi) and ors.

Court : Punjab and Haryana

Subject : Commercial

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13(2), 13(4), 14 and 17(1); Recovery of Debts Due to the Banks and Financial Institutions Act, 1993 - Sections 13(4), 17, 17(1) and 22; Debts Recovery Tribunal (Procedure) Rules, 1993 - Rules 7 and 18; Security Interest (Enforcement) Rules, 2002 - Rules 8(1), 8(3), 9(6) and 9(9)

Reported in : AIR2006P& H211; (2006)144PLR1; [2007]74SCL237(Punj& Har)

The possession is taken as per notice appended as Appendix IV in terms of Rule 8(1) of the Security Interest (Enforcement) Rules, 2002. The notice, in fact, cautions the borrower in particular and the public in general not to deal with … the balance payment was not made due to dispute between the partners. It is further averred that on 12.3.2004 the Bank invoked the provisions Under Section 13(4) of the Securitisation Act, 2002 and in pursuance thereof a

A.Varalakshmi. Vs. the Chief Manager and ors.

Court : Chennai

Subject : Banking

Acts : Security Interest (Enforcement) Rules, 2002 - Rule 9(1)(2), 8(6)(7), 8(5)(b)(c), Section 38; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Section 13(2)(4), 13(3A), 2(1)(f), 14; Constitution of India - Articles 226

raises the following questions:-(1)Whether in terms of the second proviso to sub-rule (2) of Rule 9 of the Security Interest (Enforcement) Rules, 2002, the secured creditor could sell the secured asset below the reserve price mentioned in the sale notice without … J.Rajiv Subramanian and another v. M/s Pandiyas and others, AIR 2012 Madras 12, where the Division Bench held as follows:- 33. The first question for our … take or cause to be taken possession, by delivering a possession notice prepared as nearly as possible in Appendix-IV to these rules, to the borrower and by affixing the possession notice on the outer door or at

Rajesh Sivasankara Pillai, vs the Federal Bank Ltd.,

Court : Kerala

writ court held that while the banks and financial Institutions will have to follow Rule 9(1) of the Security Interest (Enforcement) Rules, 2002 in its letter and spirit, for sale of a secured asset/s at the “the first instance”, when it … through electronic mode of service, in addition to the W.A.NO.2570 OF 2019 12 modes prescribed under sub-rule (1) and sub-rule (2) of rule 8.(3) In … take or cause to be taken possession, by delivering a possession notice prepared as nearly as possible in Appendix-IV to these rules, to the borrower and by affixing the possession notice on the outer door or at