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Supreme Court Allows Priority to Secured Creditors Over Attached Assets in NSEL Scam Case. Secured Creditors Under SARFAESI Act and RDB Act Have Priority Over Attachments Under PMLA and MPID Act, and Moratorium Under IBC Does Not Bar Execution Against Properties Attached Under MPID Act.

The Supreme Court in this judgment addressed two priority questions of law arising from the NSEL scam, where the petitioner, National Spot Exchange Li...

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High Court Validates DRAT Order for Pre-Deposit Calculation in Secured Asset Auction Dispute. Pre-deposit determination upheld as per SARFAESI Act, focusing on "debt due" over auction value.

The Bombay High Court upheld the DRAT's order mandating a pre-deposit based on "debt due" when the measures under Section 13(4) of the SARFAESI Act we...

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Conditional Guarantee Found Inoperative in Absence of CDR Approval. No life to a contract where pre-conditions remain unmet, rules Bombay High Court.

The suit revolves around whether the Deed of Guarantee executed by the plaintiff, Mr. Deepen Arun Parekh, became operative. The court held that the gu...

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Supreme Court Upholds Auction Validity: Battle Over Mortgage Redemption and Property Title. A landmark ruling interpreting the SARFAESI Act clarifies borrower and auction purchaser rights amidst contested mortgage and property transfer cases.

The Supreme Court adjudicated a dispute arising from a public auction under the SARFAESI Act involving Celir LLP (auction purchaser), Sumati Prasad Ba...

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Arbitration for Loan Recovery Dispute Court debates arbitration versus statutory remedies in SARFAESI and RDDB Acts. A high-stakes financial dispute under arbitration as lenders pursue alternative remedies through the SARFAESI Act.

Acts and Sections Discussed: Arbitration and Conciliation Act, 1996, particularly Section 11 (Appointment of Arbitrators) Securitization and Recon...

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Edelweiss Asset Reconstruction Company Ltd. vs. Meeti Developers Pvt. Ltd. A dispute over the enforcement of a mortgage and redevelopment rights amidst insolvency proceedings.

The case involves a legal dispute between Edelweiss Asset Reconstruction Company Ltd. (Plaintiff) and Meeti Developers Pvt. Ltd. (Defendant) over a lo...

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Supreme Court Rules on MSME Loan Classification and SARFAESI Proceedings. High Court Order Overturned; Banks Must Follow MSME Revival Framework Before Declaring NPAs, MSMEs Granted Alternative Remedies

The appellants, MSMEs registered under the MSMED Act, 2006, challenged the Bombay High Court's order dismissing their writ petitions. The High Court h...

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Supreme Court Upholds High Court's Decision on Auction Sale: Statutory Violations Render Sale Null and Void. Despite recognizing significant procedural breaches, the Supreme Court offers the appellant a chance to retain the industrial property by settling liabilities.

The legality of an auction sale conducted by the Tahsildar and confirmed by the Additional Collector, which was later contested on the grounds of stat...

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Writ Petition Seeking Quashing of Criminal Case Against Former Bank Director. A legal battle over the applicability of the Maharashtra Protection of Interest of Depositors Act to cooperative banks in India.

Writ petition filed under Article 226 of the Constitution of India along with Section 482 of the Code of Criminal Procedure, seeking the quashing of a...

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Supreme Court Upholds Setting Aside of Auction Sale Due to Non-Compliance by Bank. Failure to Follow Mandatory 30-Day Notice Under SARFAESI Rules Leads to Auction Sale Cancellation.

The Supreme Court upheld the setting aside of an auction sale due to the Bank's failure to follow the statutory requirement of a 30-day notice under R...