Tag: Auction Purchaser

When Right Denied, Auction Buyer's Hearing Allowed: DRAT Kolkata

When A Right Accrued In Favour Of The Auction Purchaser Is Denied By The Secured Creditor, The Auction Purchaser Is Entitled To A Hearing Before Forfeiting The Amount: DRAT Kolkata

Wednesday September 27, 2023. BY Malavika Sachin, Abdullah Qureshi, Shradha Patil | Debt Recovery

The Hon’ble Debt Recovery Appellate Tribunal, Kolkata comprising of Justice Anil Kumar Srivastava in Punjab National Bank Vs. held that when the right of forfeiture under Rule 9(5) of Security Interest (Enforcement) Rules, 2002 is

Auction Purchaser Is King: Supreme Court Upholds The Sanctity Of The Auction Process As Envisaged By The SARFAESI Act Over The Right To Redemption Of A Mortgagor

Saturday September 23, 2023. BY Brian Noronha | Insolvency & Bankruptcy

In a recent decision[i], the Hon’ble Supreme Court[ii] [“SC”] has declared that the auction procedure laid down in section 13 (8) of the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act,

Supreme Court | Borrower Has To Pre-Deposit 50% Of The “Debt Due” In Appeal Under Section 18 Of The Sarfaesi Act Before DRAT

Wednesday February 15, 2023. BY Shradha Patil, Abdullah Qureshi and Riya Vasa. | Debt Recovery

The Hon’ble Supreme Court, comprising Justice M.R. Shah and Justice B.V. Nagarathna in M/s Sidha Neelkanth Paper Industries Pvt. Ltd. & Anr. V Prudent ARC Limited & Ors vide judgement dated 05.01.2023 observed that the