Judgment Search Results Home > Cases Phrase: state financial corporations act 1951 section 15 chairman of board Court: drat delhi Page 1 of about 3 results (0.058 seconds)

Kohinoor Creations and ors. Vs. Syndicate Bank

Court : DRAT Delhi

Reported in : I(2003)BC88

..... act, 1984 (62 of 1984), and the sick industrial companies (special provisions) act, 1985 and the small industries development bank of india act, 1989.15. the 'act' came into force on 24th june ..... in any instrument having effect by virtue of any law other than this act. (2) the provisions of this act or the rules made thereunder shall be in addition to and not in derogation of, the industrial finance corporation act, 1948 (15 of 1948), the state financial corporations act, 1951 (63 of 1951), the unit trust of india act, 1963 (52 of 1963), the industrial reconstruction bank of india .....

indusind Bank Ltd. Vs. Deva Tools and Forgings

Court : DRAT Delhi

Reported in : I(2005)BC97

..... action can be taken either under section 29 or under section 31 of the state financial corporations act and that action under both the sections cannot be taken simultaneously, though, if action under one section is taken, then if action is intended to be taken under the other ..... court has not considered the question whether the banks can initiate parallel proceedings under the securitisation act when already proceedings are pending under the act of 1993 between the same parties.16. reference was made to the state financial corporations act, 1951, especially to sections 29 and 31 of the said act. the learned counsel appearing for the alleged debtors contended that it has been held that .....

State Bank of India Vs. Jagdamba Medicos and ors.

Court : DRAT Delhi

Reported in : I(2003)BC53

..... act, 1989. it is, thus, clear that the code of civil procedure has not been ..... therewith contained in any other law for the time being in force. the acts which have been excluded from the purview of section 34 of the 'act' are the industrial finance corporation act, 1948, the state financial corporation act, 1951, the unit trust of india act, 1963, the industrial reconstruction bank of india act, 1984, the sick industrial companies (special provisions) act, 1985 and the small industries development bank of india .....

Rama Sinha (Smt.) and ors. Vs. Canara Bank and ors.

Court : DRAT Delhi

Reported in : I(2007)BC169

..... act, 1984 (62 of 1984), [the sick industrial companies (special provisions) act, 1985 (1 of 1986) and the small industries development bank of india ..... appreciation, the provision under section 34(2) of the rddbfi act, 1993 is abstracted hereunder: the provisions of this act or the rules made thereunder shall be in addition to, and not in derogation of, the industrial finance corporation act, 1948 (15 of 1948), the state financial corporations act, 1951 (63. of 1951, the unit trust of india act, 1963 (52 of 1963), the industrial reconstruction bank of india .....

Aristo Pulps and Papers Ltd. and Vs. the Bank of Rajasthan Ltd. and an ...

Court : DRAT Delhi

Reported in : II(2004)BC183

..... approached the bifr which had recommended the winding up of the company with which the aaifr also agreed. he further contends that rajasthan state industrial development corporation under the rajasthan state finance corporation act exercised its right regarding the immovable property of the 1st appellant-company, and sold the same, while the respondent-bank has taken ..... defendant) for the recovery of rs. 73,62,654.15 with future interest.after the recovery of debts due to banks and financial institutions act, 1993 (hereinafter referred to as 'the act') came into force, the said suit was transferred to the debts recovery tribunal, jaipur (hereinafter referred to as 'the drt') and ..... raised the question of limitation which requires consideration in the appeal. so, this decision will not help the respondent-bank. he also contends that if financial hardship is not made out, waiver cannot be granted, and in this connection relies upon the decision in unified agro industries india ltd. v. oriental .....

Archirsha Investment Pvt. Ltd. Vs. Industrial Finance Corporation

Court : DRAT Delhi

Reported in : IV(2004)BC1

..... the learned counsel for the 4th respondent herein contends that this decision was rendered with reference to the provisions contained in section 119 of the patna municipal corporation act (13 of 1952), which related to the publication of the assessment list, whereas, the present case relates to the auction sale of the property of ..... out that the learned presiding officer of the drt has further observed that mr. sandip sahni (clerk of the counsel for the financial institutions) had filed an affidavit regarding service stating that he was producing the unserved envelopes containing the notices. the learned counsel for the 4th respondent herein, therefore, contends that it ..... herein to the directions filed by the 4th respondent herein before the recovery officer herein it has been stated that the invitation for lenders was also shown and flashed on the website of the certificate-holders (financial institutions). the recovery officer has also, in his order dated 17.4.2003 mentioned about the .....

Oriental Bank of Commerce Vs. Rajni Malik and ors.

Court : DRAT Delhi

Reported in : I(2008)BC60

..... the request of the respondents/defendants thereby causing huge financial loss to them. further, the bank was well aware of the transaction between the respondents/defendants and m/s. spices trading corporation ltd. and committed the illegal act of releasing the bank guarantee in favour of m/s. spices trading corporation, in spite of having been asked not to do ..... merged by the proprietorship concern) (paper no. 28 of the appeal paper book).9. it may be stated for the sake of clarity here that at the time of grant of credit facilities to the original borrower m/s. sanraj corporation, smt. rajni malik was its proprietor and her husband mr.sanjeev malik was the guarantor. both of ..... after subtracting the amount of claim of the bank, they were claiming a balance amount of rs. 9,90,107.68. since the prayer of the bank, as stated earlier, did not find favour with the tribunal below, it dismissed the bank's application. the bank has preferred this appeal feeling aggrieved thereby.4. i have heard .....

i.G. Telecom Ltd. and ors. Vs. I.F.C.i. Ltd. and anr.

Court : DRAT Delhi

..... as to on which date the cause of action arose. learned counsel for the corporations fairly conceded that the facts relating to limitation are missing in the o ..... give facts relating to limitation by moving an application for suitable amendment in the o.a. learned presiding officer of the tribunal below after permitting the respondent corporations to do so shall give an opportunity to the appellants to counter those facts by submitting additional written statement. after the pleadings are complete, learned presiding ..... within time. in para 4 of the o.a. only the following has been stated : that the applicants further declare that the application is within the limitation prescribed under section 24 of the recovery of debts due to banks and financial institutions act, 1993." 3. from other paragraphs of the o.a. nothing can be deduced .....

Himachal Pradesh Financial Vs. Union Bank of India and ors.

Court : DRAT Delhi

Reported in : III(2004)BC109

..... aggrieved, the appellant-4th defendant has filed this appeal. the respondent -bank has filed a suitable reply opposing this appeal.8. the appellant-4th defendant (himachal pradesh financial corporation) is aggrieved by the final order insofar as it directs the sale of the machines and goods. according to the appellant-4th defendant, it was set exparte in ..... was any ground for setting aside ex parte final order.10. but as pointed out already, the learned presiding officer of the drt dismissed the application simply stating that there is no finding against the appellant-4th defendant in the ex parte final order and that in his opinion there is no order by which ..... passed against the appellant-4th defendant. from the records it is seen that the appellant-4th defendant also filed an application under section 5 of the indian limitation act for condoning the delay in filing the said application. .5. the learned presiding officer of the drt dismissed the said application filed by the appellant-4th .....

R.G.S. International Private Vs. the Federal Bank Ltd.

Court : DRAT Delhi

Reported in : II(2005)BC117

..... singh v. election tribunal, air 1955 sc 425. he also relics upon the decisions of the hon'ble supreme court in allahabad bank v.radha krishna maity,industrial credit & investment corporation of india ltd. v. grapco industries ltd., ii (1999) bc 313 (sc)= v (1999) slt 310 = (1999) 4 supreme court cases 710, and contends that ..... court which has jurisdiction over noida where the mortgaged property is situated. but, section 22 of the recovery of debts due to banks and financial institutions act, 1993 (hereinafter referred to as 'the act') provides that the drt shall not be bound by the procedure laid down by the civil procedure code. of course, the learned counsel for the appellants ..... at noida. the respondent-bank has also made a prayer in the o. a. for the sale of the said property for the realisation of the amount stated to he due to it.the learned counsel for the appellants contends that section 16 of the civil procedure code provides that a suit for sale of the .mortgaged immovable .....