Provisions of RERA Act, 2016 to prevail over the provisions of SARFAESI Act, 2002 in case of conflict, affirms Supreme Court
A Division bench of the Hon’ble Supreme Court of India (SC), comprising of Hon’ble Mr. Justice MR Shah and Hon’ble Mrs. Justice BV Nagarathna, in their judgment dated 14.02.2022 in Union Bank of India v. Rajasthan Real Estate Regulatory Authority and Others, agreed with the view taken by the Hon’ble Rajasthan High Court (HC), and […]
Supreme Court: No Writ Petition will be maintainable in cases where remedy lies under the SARFAESI Act to approach DRT
A Division bench of the Hon’ble Supreme Court of India (SC), comprising of Mr. Justice MR Shah and Ms. Justice BV Nagarathna, in their order dated 12.01.2022 in Phoenix ARC Private Limited v. Vishwa Bharati Vidya Mandir & Ors. (Civil Appeal Nos. 257-259 of 2022), held that a borrower, aggrieved by any of the action(s)/proceedings […]
A Financial Institution cannot be forced to enter into One-Time Settlement arrangement with the Borrower, through issuance of Writ of Mandamus
The following issues had arisen for adjudication before the Division bench of the Hon’ble Supreme Court of India (SC), comprising of Mr. Justice MR Shah and Ms. Justice BV Nagarathna, in The Bijnor Urban Cooperative Bank Limited, Bijnor & others v. Meenal Agarwal & others: – Whether benefit under the One Time Settlement (OTS) scheme […]
Bombay High Court: Proceedings under Section 14 of SARFAESI Act do not require compliance with the principles of natural justice
A Division bench of the Hon’ble Bombay High Court (HC), comprising of Hon’ble Mr. Chief Justice Dipankar Datta and Hon’ble Mr. Justice M.S. Karnik, in their judgment dated 23.03.2022 in CA Manisha Mehta & Ors. v. The Board of Directors of ICICI Bank (represented by its Managing Director) & Ors., held that the language of […]
