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Supreme Court Upholds High Court Ruling That Time Limit Under Section 14 of SARFAESI Act is Directory. The provision requiring District Magistrate to pass possession order within 30 days (extendable to 60 days) is directory, as non-compliance does not invalidate proceedings or prejudice the borrower.

The appeal arose from a judgment of the Kerala High Court which held that the time limit under Section 14 of the Securitisation and Reconstruction of ...

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Supreme Court Allows Appeal Against High Court Order Directing Return of Passport in Contempt Proceedings for Breach of Undertaking. The Court restored the Single Judge's order impounding the passport of a contemnor who repeatedly breached undertakings given to the court in a property dispute.

The appellant, Shyam Sahni, filed a civil suit in 2008 seeking declaration, possession, and partition of a property in Friends Colony, New Delhi, orig...

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Supreme Court Allows Appeal in IBC Limitation Case, Holds Section 7 Application Time-Barred Under Article 137 of Limitation Act. The Court ruled that Article 62 of Limitation Act applies only to suits, not to applications under Section 7 of IBC, and time-barred debts cannot be revived under the Code.

The case involves an appeal against the judgment of the National Company Law Appellate Tribunal (NCLAT) which had dismissed the appellant's appeal and...

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Supreme Court Dismisses Tenant's Appeal in SARFAESI Act Case — Oral Tenancy After Mortgage Not Protected. Tenant's claim of tenancy based on oral agreement after mortgage creation cannot defeat bank's right to take possession under Section 14 of SARFAESI Act.

The present appeal arises from an order of the Chief Metropolitan Magistrate, Esplanade, Mumbai, dated 31.12.2014, rejecting the application of the ap...

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Supreme Court Allows Appeal in IBC Limitation Dispute — Application Under Section 7 Held Barred by Limitation. Acknowledgment of Debt in Balance Sheets Does Not Extend Limitation for Initiating CIRP Under IBC.

The Supreme Court allowed the appeal filed by Babulal Vardharji Gurjar, a director of Veer Gurjar Aluminium Industries Pvt. Ltd., against the order of...