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
The Recovery of Debts & Bankruptcy Act, 1993 and Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SAFAESI Act) are primary statues that assist in the recovery of debts for the Banks or Financial institutions. Check the latest judgements from these statues
The article features legal questions that arose from the cases related to the Loan or Debt recovery cases by the Bank. The description with summary details with important points has been raised with each case featured. The cases heard through video conferencing method during the ongoing national lockdown due to COVID-19 pandemic Debt Recovery Proceedings … Continue reading Loan Recovery By Banks Some Latest Judgments
The article is based upon the judgement by Hon’ble Chief Justice Mr P.R.P. Menon and Hon’ble Justice Mr P.P. Sahu of the High Court of Chhattisgarh in Shri Mohan Products Pvt. Ltd. and Others vs State Bank of India and others. The judgement describes a peculiar situation where the Debt Recovery Appellate Tribunal (DRAT) rejects … Continue reading How Much Should Be The Amount Of Deposit For Filing an Appeal Before The Debt Recovery Appellate Tribunal?
The national lockdown came into effect from 24.03.2020 has affected the banking industry in a huge way. This also hindered the legal activities of the litigating parties before the Debt Recovery Tribunal such that Banks and the borrower were jumbled upon the procedural and limitations aspect set by the law. This change came up with … Continue reading Loan Recovery By Banks During The National Lockdown
The article discusses the legal situations the buyer has to go through in executing an agreement for the sale of immovable property. In such situations, the seller forfeits in performing his part of liabilities as per the agreement and does not execute the sale deed in favour of the buyer. The buyer has to file … Continue reading Specific Performance for the Sale of Immovable Property [Latest Judgements]
The articles compile the latest judgements involving Title Disputes of immovable property. The nature of disputes generally involves who is the original titleholder of the immovable property and on which document the right of the party to the said property arises. The disputes require high scrutiny through documentary evidence such registered sale deeds, the government … Continue reading Dispute Related to Title of Immovable Property [Some Latest Judgments]
The article provides a summary detailing of three cases of Debt Recovery Proceedings or of the nature of Financial Disputes from different High Courts of India. Debt Recovery Proceedings generally means where the lender Banks through judicial actions make recoveries of their bad debts. The Recovery of Debts & Bankruptcy Act, 1993 and Securitization and … Continue reading Debt Recovery Proceedings Some Latest Judgements III