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secured creditor

National Company Law Appellate Tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

NCLAT rules on Secured Creditor’s right to choose method of debt realisation

NCLAT stated that since the IBC overrides the SARFAESI Act, the Liquidator ought not to prefer a petition, based on the SARFAESI Act, and therefore Liquidator’s decision to classify the appellant as an unsecured financial creditor was illegal and invalid.

Published on March 13, 2024April 4, 2024By Ritu
Leave a comment2557 views
delhi high court
Case BriefsHigh Courts

No bar in law for a secured creditor to directly proceed u/s 14 of SARFAESI Act after withdrawing measures taken u/s 13(4): Delhi High Court

“The scope of writ jurisdiction cannot be allowed to trounce the statutory obligation, on the stratagem of efficacious alternate remedy.”

Published on August 21, 2023August 21, 2023By Simranjeet
Leave a comment12319 views
payment to operational creditors under ibc
Case BriefsSupreme Court

Operational Creditors must be paid equivalent amount as per Section 53 of the IBC in case of liquidation of Corporate Debtor: SC

The Court said that Vistra ITCL (India) Ltd. would be treated as a secured creditor in terms of Section 52 and 53 of the IBC, and would be entitled to retain the security interest in the pledged shares.

Published on May 13, 2023May 16, 2023By Editor_4
Leave a comment8548 views
Landmark Judgments on Banking Laws [2022] Part I
Experts CornerSiddharth R Gupta

Landmark Judgments on Banking Laws [2022] Part I

by Siddharth R. Gupta†
Cite as: 2023 SCC OnLine Blog Exp 30

Published on March 22, 2023May 4, 2023By Bhumika Indulia
1 Comment41994 views
agricultural land
Case BriefsSupreme Court

Only a secured property used as agricultural land can be exempted under SARFAESI Act; Supreme Court sets aside Telangana High Court’s order

Supreme Court opined that instead of shifting the burden of proof on the secured creditor to prove that the secured property was not agricultural property, the Telangana High Court should have laid down the burden of proof on the borrowers.

Published on January 13, 2023January 17, 2023By Editor_4
Leave a comment15388 views
Case BriefsSupreme Court

IBC’s Section 53 does not over-ride Section 48 of GVAT Act; Adjudicating Authority may reject Resolution Plan if it ignores statutory dues payable to State/Legal authority: SC

Supreme Court: The bench of Indira Banerjee* and AS Bopanna, JJ has reversed the NCLAT order wherein it was held that the

Published on September 12, 2022By Prachi Bhardwaj
Leave a comment2421 views
Case BriefsSupreme Court

Whether confiscation by Custom & Excise Authority forfeits the claim of Secured Creditor over such property? Whether the dues of Excise department create a First Charge? SC answers

Supreme Court: The Division Bench of L. Nageswara Rao and Vineet Saran*, JJ., quashed the confiscation order of Customs and Central Excise

Published on April 2, 2022April 8, 2022By Editor_4
Leave a comment2823 views
Experts CornerKhaitan & Co

Evolving Jurisprudence in Connection with SARFAESI vis-à-vis Pending Statutory Dues

by Rahul Chakraborti†, Prashamsha Tulachan†† and Saumya Agarwal†††
Cite as: 2022 SCC OnLine Blog Exp 27

Published on March 28, 2022May 13, 2022By Bhumika Indulia
1 Comment14826 views
Case BriefsHigh Courts

Does a forfeiture clause imply that the entire deposit amount can be forfeited? Madras HC elaborates

Madras High Court: Sanjib Banerjee, J., addressed whether this Court is the appropriate forum to decide the quantum that can be forfeited

Published on July 23, 2021July 23, 2021By Bhumika Indulia
Leave a comment5664 views
Case BriefsSupreme Court

Does the remedy under Section 14 of SARFAESI Act becomes redundant if DM is unable to take possession of secured assets within time limit? Read what SC says

Supreme Court: The 3-judge bench of L. Nageswara Rao, Hemant Gupta* and Ajay Rastogi, JJ has upheld Kerala High Court’s decision holding

Published on November 6, 2020November 12, 2020By Prachi Bhardwaj
Leave a comment11469 views
Case BriefsTribunals/Commissions/Regulatory Bodies

PMLA | Properties acquired before commission of offence cannot be attached as IBC takes precedence over PMLA

Appellate Tribunal for SAFEMA, FEMA, PMLA, NDPS and PBPT Act: Justice Manmohan Singh (Chairman) allowed an appeal filed by a consortium of

Published on November 27, 2019December 12, 2019By Bhumika Indulia
Leave a comment5205 views
Case BriefsSupreme Court

CJM competent to deal with the application moved by the secured creditor under Section 14 of SARFAESI Act

Supreme Court: The bench of AM Khanwilkar and Dinesh Maheshwari, JJ has held that the Chief Judicial Magistrate (CJM) is competent to

Published on September 28, 2019October 4, 2019By Prachi Bhardwaj
Leave a comment7735 views
Case BriefsSupreme Court

SC| Secured creditor can file winding up petition even after obtaining a recovery certificate from DRT

Supreme Court: In a case dealing with companies defaulting a loan of Rs. 48 Crores including interest from Kotak Mahindra Bank, the

Published on January 30, 2019February 4, 2019By Prachi Bhardwaj
Leave a comment4436 views

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