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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

Phoenix Arc Private Limited Vs. Vishwa Bharati Vidya Mandir

Court : Supreme Court of India

Subject : Education

dated 13.08.2015 is a 3 possession notice under Section 13(4) of the SARFAESI Act, which is against the Security Interest (Enforcement) Rules, 2002. 2.5 It was the case on behalf of the original writ petitioners that the said possession notice under … take or cause to be taken possession, by delivering the possession notice prepared as nearly as possible in Appendix - IV of the said Rules, to the borrower and by affixing the possession notice on the outer … High Court and the main writ petitions are pending before the High 9 Court. It is submitted that pursuant to the earlier order passed by

Excel Dealcomm Pvt. Ltd. Vs. Asset Reconst. Company (India) Ltd. and O ...

Court : Supreme Court of India

Subject : Education

SARFAESI Act and even the sale was to be conducted by execution of sale certificate as provided in Security Interest (Enforcement) Rules, 2002 (hereinafter referred to as "Rules"). Therefore, the jurisdiction of civil court is excluded. That the Private Treaty Agreement … possession is sought or not ?. The prayer sought is issuance of sale certificate which is provided in Appendix V to the Rules under SARFAESI Act. The sale certificate reads as follows: "Whereas the undersigned being the … The Excel alleges that it had even issued a cheque of Rs. 9.5 Crores dated March 1, 2007 to the ARCIL. In reply thereto, Mr.

Sowmya Francis vs the Sub Registrar

Court : Kerala

WP(C) 36585/2023 PETITIONER EXHIBITS EXHIBIT P1 TRUE COPY OF THE SALE CERTIFICATE ISSUED UNDER RULE 9(6) OF THE SECURITY INTEREST (ENFORCEMENT) RULES, 2002, DATED 17/03/2023EXHIBIT P2 TRUE COPY OF THE ENCUMBRANCE CERTIFICATE NO. 8014/23 DATED EXHIBIT P3 TRUE COPY OF THE … of one month from the date of receipt of a copy of this judgment. Sd/- P.V.KUNHIKRISHNAN nvj JUDGE APPENDIX OF WP(C) 36585/2023 PETITIONER EXHIBITS EXHIBIT P1 TRUE COPY OF THE SALE CERTIFICATE ISSUED UNDER RULE 9(6) OF

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

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

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)

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 … before 6.3.2004 failing which, the Authorised Officer of the Bank will take possession of the secured assets on 9.3.2004. The petitioners did not pay any amount. Consequently, a symbolic possession of the said assets was taken on

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 … and another against the order passed by the Debts Recovery Tribunal, Chandigarh, dated 20.1.2006 in Interim Appeal No. 927 of 2005 and consequential order passed on 23.1.2006 in S.A. No. 69 of 2005, was allowed.2. The facts

A.R. Rajasekaran Vs. the Chief Manager and Authorized Officer, United ...

Court : DRAT Madras

Subject : Education

issued the Possession Notice on 16.9.2011 under Section 13(4) of the Act read with Rule 9 of the Security Interest (Enforcement) Rules - 2012. 2.3 In both the Notices dated 6.6.2011 and 16.9.2011, the Respondent mentioned that, the borrower had … two leading newspapers, within seven days, as enumerated under Rule 8(2) of the Security Interest (Enforcement) Rules - 2002. The Possession Notice was not affixed on the conspicuous part of the secured asset as enumerated in Rule … vitiated but also not sustainable. The Respondent has not followed Rule 8(1), Appendix IV in issuing the Possession Notice. The Possession Notice was not served

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 … 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