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 theContinueContinue reading “What is The Procedure of Auction Sale under SARFAESI Act?”
Tag Archives: Banking Law
All About SARFAESI Act: Origin, Institutions, Proceedings & Protection to Borrower
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 (nowContinueContinue reading “All About SARFAESI Act: Origin, Institutions, Proceedings & Protection to Borrower”
Latest Judgments from SARFAESI Act 2002 and IBC
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 aContinueContinue reading “Latest Judgments from SARFAESI Act 2002 and IBC”
Latest Judgements on The SARFAESI Act
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.
SARFAESI Act: 3 Things Borrower Needs To Know
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.
Latest Judgments from Loan Recovery Cases.
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
Loan Recovery By Banks Some Latest Judgments
Note: The article has been shifted to our new website, click here to view our new website. 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 casesContinueContinue reading “Loan Recovery By Banks Some Latest Judgments”
How Much Should Be The Amount Of Deposit For Filing an Appeal Before The Debt Recovery Appellate Tribunal?
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) rejectsContinueContinue reading “How Much Should Be The Amount Of Deposit For Filing an Appeal Before The Debt Recovery Appellate Tribunal?”
Loan Recovery By Banks During The National Lockdown
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 withContinueContinue reading “Loan Recovery By Banks During The National Lockdown”
How Banks Recover Debts Through Secured Assets?
The Banks are the life and blood of the economy, their business to provide and infuse credit into the market promote growth which in consequence bring prosperity into the economy. But this form of business of lending may also lead to credit defaulters in the market which consequently damages the credit business. The Banks whichContinueContinue reading “How Banks Recover Debts Through Secured Assets?”
Legal Shashtra 