{"id":242092,"date":"2021-01-11T10:05:12","date_gmt":"2021-01-11T04:35:12","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=242092"},"modified":"2021-01-15T11:55:56","modified_gmt":"2021-01-15T06:25:56","slug":"ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/","title":{"rendered":"Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Kerala High Court: <\/strong>A.M. Badar, J., while dismissing the present petition, reiterated the observations of the Supreme Court in the words, \u201cIn cases relating to recovery of the dues of banks, financial institutions and secured creditors, stay granted by the High Court would have a serious adverse impact on the financial health of such bodies\/institutions, which (sic will) ultimately prove detrimental to the economy of the nation. Therefore, the High Court should be extremely careful and circumspect in exercising its discretion to grant stay in such matters.\u201d<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #0000ff;\"><strong>\u00a0<\/strong><strong>Background<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">The petitioner who happens to be the Managing Director of one <em>Heera Construction Company; <\/em>a corporate debtor, is challenging orders namely, P3, P4 and P4(a) and is seeking further direction against the respondent 1 to keep in abeyance all further proceedings pursuant to Ext P3, P4 and P4(a) till the disposal of CP(IB) 4447\/2018. It is to be noted that Ext P3 is a notice of sale under Rule 8(6) of Security Interest (Enforcement) Rules, 2002, Ext P4 is a further notice under the said Rules for sale of secured assets and Ext P4 (a) is e-auction sale notice issued in terms of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #0000ff;\"><strong>\u00a0<\/strong><strong>Observations<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><strong><em><u>On the contention that parallel proceedings under SARFAESI is impermissible<\/u><\/em><\/strong><\/p>\n<p style=\"text-align: justify;\"><em>\u201c\u2026 argument advanced by the learned counsel for the petitioner that because of pendency of proceedings before the NCLT, parallel proceedings under the SARFAESI Act are not maintainable, needs to be rejected. Even otherwise Section 7 of the Insolvency and Bankruptcy Code has application against the corporate debtor. It cannot be said that there is bar for proceedings against the guarantor under the SARFAESI Act because of pendency of corporate insolvency resolution process against the corporate debtor.\u201d<\/em><\/p>\n<p style=\"text-align: justify;\"><em>\u00a0<\/em><strong><em><u>On interference of Court under Article 226 if an alternative statutory remedy is available<\/u><\/em><\/strong><\/p>\n<p style=\"text-align: justify;\">Court placed reliance on the case of, <strong><em>Authorized Officer, State Bank of Travancore v. Mathew K.C.,<\/em><\/strong> 2018 (1) KLT 784; <em>\u201c\u2026the discretionary jurisdiction under Article 226 is not absolute but has to be exercised judiciously in the given facts of a case and in accordance with law. The normal rule is that a writ petition under Article 226 of the Constitution ought not to be entertained if alternate statutory remedies are available, except in cases falling within the well defined exceptions\u2026\u201d <\/em><\/p>\n<p style=\"text-align: justify;\">Further reference was made to the alternate remedy available under DRT Act through, <strong><em>Punjab National Bank v. O.C. Krishnan, <\/em><\/strong><a href=\"http:\/\/www.scconline.com\/DocumentLink\/2pt7R5fI\">(2001) 6 SCC 569<\/a>; <em>\u201cThe Act has been enacted with a view to provide a special procedure for recovery of debts due to the banks and the financial institutions. There is a hierarchy of appeal provided in the Act, namely, filing of an appeal under Section 20 and this fast-track procedure cannot be allowed to be derailed either by taking recourse to proceedings under Articles 226 and 227 of the Constitution or by filing a civil suit, which is expressly barred. Even though a provision under an Act cannot expressly oust the jurisdiction of the court under Articles 226 and 227 of the Constitution, nevertheless, when there is an alternative remedy available, judicial prudence demands that the Court refrains from exercising its jurisdiction under the said constitutional provisions\u201d <\/em><\/p>\n<p style=\"text-align: justify;\"><strong>\u00a0<\/strong><span style=\"color: #0000ff;\"><strong>Decision<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Dismissing the present petition, the Court said, <strong><em>\u201cLoans by financial institutions are granted from public money generated at the tax payers expense. Such loan does not become the property of the person taking the loan, but retains its character of public money given in a fiduciary capacity as entrustment by the public. Timely repayment also ensures liquidity to facilitate loan to another in need, by circulation of the money and cannot be permitted to be blocked by frivolous litigation by those who can afford the luxury of the same.\u201d<\/em><\/strong>[Dr Abdul Rasheed v. IFCI Limited, <a href=\"http:\/\/www.scconline.com\/DocumentLink\/GM15mN5C\"><b>2020 SCC OnLine Ker 8293<\/b><\/a>, decided on 03-12-2020]<\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><span style=\"color: #008000;\">Sakshi Shuka, Editorial Assistant has put this story together<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kerala High Court: A.M. Badar, J., while dismissing the present petition, reiterated the observations of the Supreme Court in the words, \u201cIn <\/p>\n","protected":false},"author":67011,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,10],"tags":[22814,28984,30361,29785,12521,3596,41930],"class_list":["post-242092","post","type-post","status-publish","format-standard","hentry","category-casebriefs","category-highcourts","tag-corporate-insolvency-resolution-process","tag-drt","tag-ibc","tag-law","tag-nclt","tag-SARFAESI","tag-tax-payers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates\" \/>\n<meta property=\"og:description\" content=\"Kerala High Court: A.M. Badar, J., while dismissing the present petition, reiterated the observations of the Supreme Court in the words, \u201cIn\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-11T04:35:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-15T06:25:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/KeralaHC-e1521442636157.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/\",\"name\":\"Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"datePublished\":\"2021-01-11T04:35:12+00:00\",\"dateModified\":\"2021-01-15T06:25:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe\",\"name\":\"Editor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g\",\"caption\":\"Editor\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_4\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/","og_locale":"en_US","og_type":"article","og_title":"Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates","og_description":"Kerala High Court: A.M. Badar, J., while dismissing the present petition, reiterated the observations of the Supreme Court in the words, \u201cIn","og_url":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2021-01-11T04:35:12+00:00","article_modified_time":"2021-01-15T06:25:56+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/03\/KeralaHC-e1521442636157.jpg","type":"image\/jpeg"}],"author":"Editor","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Editor","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/","url":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/","name":"Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"datePublished":"2021-01-11T04:35:12+00:00","dateModified":"2021-01-15T06:25:56+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/11\/ker-hc-no-bar-to-parallel-proceedings-under-sarfaesi-act-during-ongoing-corporate-insolvency-resolution-process-hc-reiterates\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe","name":"Editor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/34e366be721c41333586de05faa13743195f5b142dcd7a015c6fabd2389521d0?s=96&d=mm&r=g","caption":"Editor"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_4\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":238380,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/02\/del-hc-is-the-liability-of-principal-borrower-and-guarantor-co-extensive-court-reiterates-scs-position-on-continuation-of-sarfaesi-proceedings-against-guarantor-by-banks\/","url_meta":{"origin":242092,"position":0},"title":"Del HC | Is the liability of Principal Borrower and Guarantor co-extensive? Court reiterates SC&#8217;s position on continuation of SARFAESI proceedings against Guarantor by banks","author":"Bhumika Indulia","date":"November 2, 2020","format":false,"excerpt":"Delhi High Court:\u00a0A Division Bench of Hima Kohli and Subramonium Prasad, JJ., considered the following question: Whether a bank\/financial institution can institute or continue with proceedings against a guarantor under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), when proceedings under the\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":269688,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/06\/ibc-cirp-moratorium-initiation-proceedings-under-sarfaesi-act-cannot-continue-section-14-supreme-court-legal-knowledge-research-news\/","url_meta":{"origin":242092,"position":1},"title":"IBC| Once CIRP is initiated and moratorium is ordered, proceedings under SARFAESI Act cannot continue: Supreme Court","author":"Prachi Bhardwaj","date":"July 6, 2022","format":false,"excerpt":"Supreme Court: The bench of L. Nageswara Rao and BR Gavai*, JJ has held that the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) cannot continue once the CIRP has been initiated and the moratorium has been ordered as per\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-12.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-12.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-12.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-12.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/MicrosoftTeams-image-12.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":247248,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/04\/17\/interplay-of-ib-code-with-law-on-limitation-the-consistent-inconsistency-part-i\/","url_meta":{"origin":242092,"position":2},"title":"Interplay of IB Code with law on limitation \u2013 The consistent \u201cinconsistency\u201d \u2013 Part I","author":"Bhumika Indulia","date":"April 17, 2021","format":false,"excerpt":"by Akaant Kumar Mittal\u2020","rel":"","context":"In &quot;Akaant Mittal&quot;","block_context":{"text":"Akaant Mittal","link":"https:\/\/www.scconline.com\/blog\/post\/category\/experts_corner\/individual\/akaant-mittal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-37.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-37.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-37.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-37.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-37.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":199742,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/08\/06\/insolvency-and-bankruptcy-code-2016-prevails-over-sarfaesi-act-2002-nclat\/","url_meta":{"origin":242092,"position":3},"title":"Insolvency and Bankruptcy Code, 2016 prevails over SARFAESI Act, 2002: NCLAT","author":"Bhumika Indulia","date":"August 6, 2018","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial), dismissed an appeal filed by the Financial Creditor, holding it to be sans merit. The appeal was filed by the appellant Bank (Financial Creditor) against the order passed\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":344962,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/04\/03\/sole-proprietorship-firm-dont-fall-under-definition-of-debtor-under-s-94-of-ibc-mp-high-court-refuses-to-halt-recovery-proceedings-scc-times\/","url_meta":{"origin":242092,"position":4},"title":"Sole proprietorship firm don\u2019t fall under definition of \u201cdebtor\u201d under S. 94 of IBC; MP High Court refuses to halt recovery proceedings","author":"Ritu","date":"April 3, 2025","format":false,"excerpt":"\u201cSection 94 of IBC gives remedy to \u201cdebtor' only to either apply personally or through a Resolution Professional to the Adjudicating Authority for initiating the insolvency resolution process.\u201d","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Madhya Pradesh High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Madhya-Pradesh-High-Court.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Madhya-Pradesh-High-Court.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Madhya-Pradesh-High-Court.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/Madhya-Pradesh-High-Court.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":240806,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/17\/ker-hc-sarfaesi-act-whether-the-state-has-better-right-in-comparison-to-banks-and-other-financial-institutions-over-secured-assets-for-recovery-of-its-dues-legal-position-reiterated\/","url_meta":{"origin":242092,"position":5},"title":"Ker HC | [SARFAESI Act] Whether the State has better right in comparison to Banks and other Financial Institutions over secured assets for recovery of its dues; legal position reiterated","author":"Editor","date":"December 17, 2020","format":false,"excerpt":"Kerala High Court: A.M. Badar J., allowing the present petition, quashes the attachment made by the State authorities to recover tax dues. Background Counsel appearing for the petitioner argued that for repayment of loan availed by its borrower, the property comprised in Mannanchery village was mortgaged by the borrower. As\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/242092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=242092"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/242092\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=242092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=242092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=242092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}