Use of Criminal Prosecution is a delay tactic against debt recovery in the SARFAESI Act. and when a secured asset being a subject matter of civil dispute it cannot be discharged under the SARFAESI Act.
The Bank has such stringent powers under the SARFAESI Act that may suffer the interest of the Borrower. The Borrower must know the basics before he has to deal in any manner by the Banks for a repayment.
The Recovery of Debts & Bankruptcy Act, 1993 and Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SAFAESI Act) are primary statues that assist in the recovery of debts for the Banks or Financial institutions. Check the latest judgements from these statues
The article features legal questions that arose from the cases related to the Loan or Debt recovery cases by the Bank. The description with summary… Read More »Loan Recovery By Banks Some Latest Judgments
How Much Should Be The Amount Of Deposit For Filing an Appeal Before The Debt Recovery Appellate Tribunal?
The article is based upon the judgement by Hon’ble Chief Justice Mr P.R.P. Menon and Hon’ble Justice Mr P.P. Sahu of the High Court of… Read More »How Much Should Be The Amount Of Deposit For Filing an Appeal Before The Debt Recovery Appellate Tribunal?
The article provides a summary detailing of three cases of Debt Recovery Proceedings or of the nature of Financial Disputes from different High Courts of… Read More »Debt Recovery Proceedings Some Latest Judgements III
The Debt Recovery Proceedings are proceedings which provide relief to the Organized Lending companies such as Banks, Non-Banking Financial Corporations or other recognized credit agency… Read More »Latest Judgments From Debt Recovery Proceedings & SARFAESI Act