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Dec 18, 20242 min read
Ex-Parte Recovery Order Passed in Favour of Bank with Reduction in Penal Interest and Capping of Future Interest at 9% Per Annum
DRT passed an ex-parte recovery order in favour of the Bank, reducing the penal interest and capping the future interest at 9% per annum....
Dec 17, 20243 min read
Right of Redemption Under Section 13(8) of SARFAESI Act Limited to Mortgagor; Third-Party Possession Insufficient to Challenge Secured Creditor’s Measures
DRAT held that the right of redemption under Section 13(8) of the SARFAESI Act is limited to the mortgagor, and a third party in...
Dec 15, 20243 min read
Procedural Fairness and Enforceability of Personal Guarantee Document Amid Pending Insolvency Proceedings
The DRT examined the procedural fairness and enforceability of a personal guarantee document in light of pending insolvency proceedings...
Dec 13, 20243 min read
Non-filing of Written Statement Not Enough for Counter-claim Success - Review Limited to Errors Apparent on Record
The DRAT held that the non-filing of a written statement by SBI did not automatically entitle the counter-claim to succeed and emphasized...
Dec 13, 20242 min read
Substitution of Authorized Officer by District Magistrate under SARFAESI Act Validated by DRAT
DRAT validated the substitution of the authorized officer by the District Magistrate under the SARFAESI Act. The Debts Recovery Appellate...
Dec 13, 20243 min read
Rectification of Typographical Errors in Section 14 Orders is Ministerial and Does Not Render the Magistrate Functus Officio
DRAT held that the rectification of typographical errors in Section 14 orders was ministerial in nature and did not render the Magistrate...
Dec 9, 20241 min read
Sanjay Malhotra Appointed as the New RBI Governor
Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI) for a three-year term, beginning December 10,...
Dec 9, 20243 min read
SARFAESI and Arbitration Proceedings Can Proceed Simultaneously: Court's Scope Under Section 11(6) Limited to Examining Arbitration Agreement
The High Court held that SARFAESI and arbitration proceedings could proceed simultaneously and reiterated that its scope under Section...
Dec 9, 20243 min read
SARFAESI Act Proceedings Can Coexist with Arbitration and RDB Act Remedies; Procedural Nature Allows Application to Existing Debts
The Supreme Court held that proceedings under the SARFAESI Act could coexist with arbitration and RDB Act remedies, and clarified that...
Dec 4, 20243 min read
District Magistrate's Ministerial Powers Under Section 14 of SARFAESI Act Affirmed: Substitution of Authorized Officer Upheld
DRAT upheld the District Magistrate's ministerial powers under Section 14 of the SARFAESI Act, affirming the substitution of the...
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