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Mar 19, 2024
Upholding Financial Rights: A Legal Analysis of Limited Guardianship under the Rights of Persons with Disabilities Act, 2016
The case of Mrs. Mohan V. before the Kerala High Court sheds light on the complex legal issues surrounding the financial protection of individuals with disabilities.
Mrs. Rachna Gupta, Advocate
Mar 12, 2024
Supreme Court's Interpretation on the Forfeiture of Earnest Money in Auction Sale under the SARFAESI Proceedings
The Supreme Court recently addressed appeals concerning the forfeiture of earnest money deposit by a Nationalized Bank in a property auction. The case involved the bank conducting an e-auction of a property and declaring the respondent as the successful bidder. However, the respondent failed to pay the balance amount within the stipulated time, leading to the cancellation of the sale and forfeiture of the earnest money.
REEDLAW
LATEST CASE LAWS
Supreme Court
High Court
NCLAT
The Supreme Court addressed the legality of disciplinary proceedings initiated against an officer of the State Bank of India (SBI) post-superannuation, examining the interplay between service rules and precedents. The respondent, whose service was extended beyond his original superannuation date of December 26, 2003, retired on October 1, 2010, after which disciplinary proceedings were initiated on March 18, 2011, under Rule 68(1) of the SBI Officers’ Service Rules, 1992. The proceedings culminated in his dismissal on March 7, 2012. The respondent challenged the dismissal, and b...
State Bank of India v. Navin Kumar Sinha
November 19, 2024
REEDLAW 2024 SC 11001
The High Court addressed the interplay between judicial proceedings and the Insolvency and Bankruptcy Code, 2016 (IBC) while adjudicating an application for the withdrawal of funds deposited in court. The Appellant, a corporate debtor undergoing Corporate Insolvency Resolution Process (CIRP) since February 2023, sought to reclaim ₹20,00,000/- deposited under an interim order in appellate proceedings. Acting through the Resolution Professional (RP) under the supervision of the Committee of Creditors (CoC), the Appellant argued that the deposited funds constituted its assets, prot...
Siti Networks Ltd. (formerly known as Siticable Network Ltd.) v. Rajiv Suri, Proprietor of Ambika Chitra
November 13, 2024
REEDLAW 2024 Bom 11545
The appeal filed by the Successful Resolution Applicant (SRA) challenged the order dated May 1, 2024, passed by the Adjudicating Authority in I.A. 961/2024. This order allowed the Resolution Professional's (RP) prayer to conduct the ongoing Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor, Mastana Foods Private Limited. The Corporate Debtor had been admitted into CIRP on September 18, 2019, and the appellant's Resolution Plan, along with an addendum, was approved by the Committee of Creditors (CoC) with a 100% vote on November 7, 2020. However, disputes aro...
Meenakshi and Kushal Goyal v. Amit Agarwal and Others
November 18, 2024
REEDLAW 2024 NCLAT Del 11542
DRAT
The Debts Recovery Appellate Tribunal (DRAT), Kolkata, under the chairmanship of Hon’ble Anil Kumar Srivastava, adjudicated an appeal challenging the dismissal of SARFAESI Application No. 383 of 2017 by the Debts Recovery Tribunal (DRT), Visakhapatnam. The appellant, M/s. ATR Cars Private Limited, had contested violations of Rule 8(6) and Rule 9(1) of the Security Interest (Enforcement) Rules, 2002, in the auction sale of secured assets. The DRT had found that the 15-day notice was adequate for a subsequent sale, a conclusion that the appellant disputed, asserting that a 30-day ...
ATR Cars Private Limited v. Indian Bank and 2 Others
