Search Results for Tag : Secure
Judgments
A litigant can take different stands at different times but cannot take contradictory stands in the same case(08.10.2018)
The Appellant is an assignee of debt by the Industrial Finance Corporation of India Ltd. ("IFCI") for the outstanding of Mahendra Petrochemicals Ltd. .....
Tags : Substitution, Secured creditor, Entitlement
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District Magistrate or Chief Metropolitan Magistrate can appoint an advocate and authorise him/her to take possession of the secured assets under Section 14(1A) SARFAESI Act(25.02.2022)
The seminal question involved in present cases is whether it is open to the District Magistrate or the Chief Metropolitan to appoint an advocate and a.....
Tags : Possession, Secured assets, Authorization
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When a public functionary is required to perform a public function within a time frame, the same will be held to be directory unless specified(05.11.2020)
The challenge in the present appeal is to an order passed by the High Court, whereby it was held that Section 14 of the Securitisation and Reconstruct.....
Tags : Secured Assets, Possession, Time limit
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Assignment is a transaction independent of sale of secured asset(04.08.2015)
The assignment of debt by a secured creditor is an independent transaction, which does not affect either the liability or the rights of the borrower. .....
Tags : security, assignment, secured creditor, transfer of debt
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No right of representation for borrowers in proceedings by lender seeking assistance to take possession(06.08.2015)
In an application by a creditor seeking assistance to take possession of the secured asset, under Section 14 SARFAESI Act, 2002, there is no requireme.....
Tags : Assistance, secured creditor, asset, notice
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News
ITAT: Interest-bearing Unsecured Loans Are Allowable As Income Tax Deduction U/S 57(iii)(31.05.2022)
Income Tax Appellate Tribunal, Raipur observed that interest-bearing unsecured loans are allowable as deduction under Section 57(iii) of Income Tax Ac.....
Tags : Income Tax Appellate Tribunal, unsecured loans, deduction
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Bombay HC: Secured Creditors Shall Take Priority Over Government Dues Under SARFAESI Act(05.09.2022)
Bombay High Court has held that the rights of secured creditors to realise secured debts shall have priority over government dues, including revenues,.....
Tags : Bombay High Court, SARFAESI Act, Secured Creditors
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ITAT: Income Tax Liability Won’t Arise for Unsecured Loan Transactions Done by Group Entities(16.06.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that income tax liability won’t arise for unsecured loan transactions done by group entiti.....
Tags : ITAT, Income-Tax Liability, Unsecured Loan
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Calcutta HC: Award Holder U/S 36 of Arbitration Act Entitled To Be Secured Of Entire Award Value(23.06.2022)
Calcutta High Court has held that award holder has the statutory safeguard under Section 36 of Arbitration and Conciliation Act to secure the entire a.....
Tags : Calcutta High Court, Arbitral Award, Secure
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SC: Time Limit Stipulation Mandating DM to Deliver Possession of Secured Asset Only Directory(06.11.2020)
Supreme Court has held that time limit stipulation in Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Secur.....
Tags : Supreme Court, Delivery of Possession of Secured Asset
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Delhi HC: Challenge Against Action Taken by Secured Creditor Won’t Bar Arbitration Proceedings(23.11.2022)
Delhi High Court has held that even if a party intended to take action under Section 17 of SARFAESI Act by filing a petition before Debt Recovery Trib.....
Tags : Delhi High Court, Secured Creditor, Arbitration
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SC: Rehabilitation Scheme Under SICA Binds All Creditors(20.03.2023)
Supreme Court while observing that rehabilitation scheme under Section 18 of the SICA, 1985 shall bind all the creditors including the unsecured credi.....
Tags : Supreme Court, SICA, Unsecured Creditors, Rehabilitation Scheme
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SC: IBC Overrides Provisions of Electricity Act, 2003(18.07.2023)
Supreme Court while observing that Section 238 of Insolvency and Bankruptcy Code (IBC) override provisions of the Electricity Act, 2003, has held that.....
Tags : Supreme Court, IBC, Electricity Act, Secured Creditors
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SC: Only Expressly Created Statutory Charges can Take Precedence Over Secured Creditors' Claim(05.12.2019)
Supreme Court has reiterated that only expressly created statutory first charges under Central and State laws can take precedence over the claims of s.....
Tags : SC, Secured Creditors
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MP HC Issues Guidelines on S.14 Appln Filed by Secured Creditors under SARFAESI Act(27.11.2023)
Madhya Pradesh High Court while observing that inaction of DM/ADM/ CJMs has resulted in secured creditors rushing to High Court, leading to opening of.....
Tags : Madhya Pradesh High Court, SARFAESI Act, Secured Creditors, Section 14, Guidelines
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SC: Person Having Security Interest Over Property of Corporate Debtor Not 'Financial Creditor'(27.02.2020)
Supreme Court has upheld the order of National Company Law Tribunal which cancelled the mortgages made by Jaypee Infratech Ltd to secure the debts of .....
Tags : Supreme Court, Mortgage by Corporate Debtor to Secure Debts
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Only expressly created statutory first charges under Central and State laws can take precedence over claims of secured creditors(04.12.2019)
Present appeal arises out of judgment passed by High Court. Vide the impugned judgment, the High Court has directed the issuance of a recovery certifi.....
Tags : Sale, Secured assets, Proceeds
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Company Court to not wield power at winding-up under SARFAESI(29.12.2015)
Provisions of the Companies Act, 1956 in respect of dues of workmen and their protection are incorporated under the Securitisation Act, 2002 and legal.....
Tags : Sarfaesi, companies act, conditions, secured asset
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Delhi HC: No Requirement for CMM to Fix Time Limit for Taking Possession of Secured Asset(17.12.2021)
Delhi High Court has held that there is no requirement or justification for a Chief Metropolitan Magistrate to fix a time limit for taking possession .....
Tags : Delhi High Court, Fix Time Limit for Taking Possession of Secured Asset
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