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May 28, 20242 min read
High Court Directs ICICI Bank Chairman to Justify Use of Recovery Agents Despite Supreme Court Ban
High Court directs the Chairman of ICICI Bank to file a personal affidavit explaining the rationale behind engaging recovery agents...
May 24, 20243 min read
NCLAT Rules that A Corporate Debtor, by Acquiring Encumbered Property under the SARFAESI Act, Inherits the Financial Debt as per the IBC
NCLAT rules that a Corporate Debtor, by acquiring encumbered property under the SARFAESI Act, inherits the financial debt as per the IBC....
May 23, 20242 min read
Lender Bank's Registration of Its Mortgage With the CERSAI has Priority Over the Property as Compared to the DCST under the SARFAESI Act
Bombay High Court held that the lender bank's registration of Its mortgage with the CERSAI has priority over the property as compared to...
May 22, 20242 min read
Eighteen States Including Two Union Territories Lack Debts Recovery Tribunals (DRTs): Centre Informs Supreme Court
In a session presided over by Justices Abhay S. Oka and Justice Ujjal Bhuyan, the Supreme Court bench was informed by the Centre during...
May 20, 20243 min read
NCLAT Determines the Loan Recall Notice Date Might Not Be Considered the Relevant Date of Default under the Insolvency and Bankruptcy Code
NCLAT has determined that the Loan Recall Notice Date might not be considered the relevant Date of Default under the Insolvency and...
May 17, 20242 min read
Property auctioned under the SARFAESI Act cannot be included in the moratorium assets under Section 14 of the IB Code
Property auctioned under the SARFAESI Act cannot be included in the moratorium assets under Section 14 of the Insolvency and Bankruptcy...
May 15, 20242 min read
Acknowledgement of the Debt by the Guarantor Extends the Limitation Period
NCLAT Principal Bench held that the acknowledgement of the debt by the guarantor extends the limitation period. The National Company Law...
May 15, 20243 min read
Can time-barred debts be recovered through remedies other than civil suits as per special laws: SC Refers to a 3-judge bench for a comprehensive examination
Supreme Court referred the matter to the Chief Justice of India to convene an appropriate three-judge bench for a comprehensive...
May 13, 20241 min read
Supreme Court Dismisses MSME Plea Against Section 43B(h) of the Income Tax Act: 45-Day Credit Extension Rule
Supreme Court Dismisses MSME Plea Against Section 43B(h) of the Income Tax Act: 45-Day Credit Extension Rule. The Supreme Court recently...
May 9, 20243 min read
Need for a transparent mechanism to prevent misuse of penal measures outlined in the Master Circular against wilful defaulters
Delhi High Court observed the need for a transparent mechanism to prevent misuse of penal measures outlined in the Master Circular...
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