Through the implementation of the SARFAESI Act, 2002 the Banks and the Financial intuitions now have the right to declare a financial asset as Non-Performing asset. These assets specified such because they are not earning any revenue as generally predicted by the Banks. Therefore, to overcome the loss in revenue the Banks for securing the … Continue reading What is The Procedure of Auction Sale under SARFAESI Act?
The SARFAESI Act came as a part of Banking Reforms with the opening of the Indian economy as per the International Standards. The legislation is enacted to strengthen the banking system. The later reforms before the SARFAESI Act brought the enactment of the Recovery of Debt Due to Bank And Financial Institute Act, 1993 (now … Continue reading A Comprehensive Guide About the SARFAESI Act
The MSME Sector is the economic power house which has the actual potential in developing the nations economy and important for India's growth.
The Specific Performance of Contract, for the implementation of a civil transaction, agreed and contracted between the parties in a suit. The Parliament enacted the Specific Relief Acts, 1963 for the proper redressal of default conducted by any of the contracting parties. The law protects the interest of the parties and ensures proper implementation of … Continue reading Specific Performance of Contract Cases [Latest Judgements]
The law of debt recovery is mostly based on two laws which are the Recovery of Debt and Bankruptcy Act, 1992 and the Securitization and Reconstruction of Financial Assets and Security Interest Act, 2002 (SARFAESI Act 2002). To further strengthen the financial system, the Parliament enacted the Insolvency & Bankruptcy Code, 2016 which gave a … Continue reading Latest Judgments from SARFAESI Act 2002 and IBC
The Dispute related to tenancy involves the eviction of the tenant from the rented premises and acquiring the possession back to the landlord. The nature of dispute further involves, the payment of arrears of rent and other conditions on which the tenant can be evicted. The tenant is vulnerable to the eviction from his possession … Continue reading What are the Defenses A Tenant Establishes in A Tenancy Dispute?
The articles compile the latest judgements involving Landlord-Tenant disputes. The nature of disputes generally involves eviction of the tenant from the premises. The law protects the tenant for accommodation and the landlord has to be genuine with reason to evict a tenant from possession. The Landlord should produce valid reasons for eviction as per the law and if found otherwise the tenancy remains with the tenant.
Use of Criminal Prosecution is a delay tactic against debt recovery in the SARFAESI Act. and when a secured asset being a subject matter of civil dispute it cannot be discharged under the SARFAESI Act.
The Bank has such stringent powers under the SARFAESI Act that may suffer the interest of the Borrower. The Borrower must know the basics before he has to deal in any manner by the Banks for a repayment.
Stamp duties in India are fees for registration of documents and authenticating, it gives a government sanctity on the documents and the law makes it necessary in case of transfer of property or of transfer of some form of right holding by a person, the government charges fees/duty in registering the document. The transfer of … Continue reading 5 States with most Favourable Stamp Duties in India for a M&A Transaction