Critical issues determining the extent of powers vested with the secured creditors under SARFAESI act Object and reasons for the enactment of the SARFAESI ACT The issue of blocking of public money of banks and financial institutions had s
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Business Law | 9
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The role of corporate governance in coping with financial crisis, corporate scandals and failures". By Suhita Mukhopadhyay Company Secretary Corporate greed & corruption witnessed in the Rs. 1.76 lacs crore 2G scam, which involved many
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Introduction Class action suits have been for a long time a tool to serve the needs of victims wronged by a company. Justice Story in West v. Randall (29) F. Cas. 718 (R.I, 1820) said, all persons materially interested, either as plaintiffs
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Section 13(4) of SARFAESI Act provides for four different measures that a secured creditor can take in the event of the borrowers failure to comply with the demand notice issued under Sec.13(2) the said Act. They are as under: (a) take p
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Crown Debt is common law doctrine. This is recognized by Indian High Courts prior to 1950. This law continues to be in force within the meaning of Article 372(1) of Indian Constitution. Government takes precedence and priority ove
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Latest amendment i.e. sub-Sec.5A to Sec.13 of SARFAESI Act allows secured creditor to authorise any of its officer to participate. Sub-Sec 5A is extracted and reproduced hereunder: (5A) Where the sale of an immovable property, for which a r
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1. The Honble Supreme Court in the landmark judgment in Mardia Chemicals case, while upholding the constitutional validity of Securitization, Reconstruction of Financial Assets & Enforcement of Security Interest Act 2
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There is every need for the Government to enable/assist the Banks in reducing their NPAs (Non-performing Assets) and it is beyond doubt that the Banks are now well assisted/equipped through the legal frame-work in recovering their dues. The provis
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Scottish proverb: Laws costly ... tak a pint and gree
International arbitration is about settling disputes between businesses, occasionally between businesses and States or State entities.
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The procedures for valuation of movable secured assets and immovable secured assets are different and they are dealt by separate rules under Security Interest (Enforcement) Rules 2002. Rule 5 of S.I.(E)Rules deals with valuation of m
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