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 ..
Applicability of Sec.5 of Limitation Act to the proceedings under Sec.17 of SARFAESI Act. On this issue there are controversies among various High Courts. We may note the views of some of the High Courts are stated hereunder: View of Bomba ..
There can be situations in listed / unlisted company regarding the withdrawal of bonus issue. Similarly; i have come across a problem regarding the withdrawal of Bonus issue in an unlisted company. As the bonus issue ..
(1) It is respectfully submitted that the recovery proceedings against the Guarantor before honble Debts Recovery Tribunal (hereinafter DRT or Tribunal) under section 19 of the Recovery of Debts Due to Bank ..
Introduction Recently, after going through my Articles on the website {namely (1) Directors Personal Guarantee-A Void Agreement and (2) Personal Guarantee-A Void Agreement), one visitor informed me that, on the contrary, commenting on his c ..
Index to Parawise Contents 1. Evolution of concept of legal entity 2. Effect of Incorporation: Company as a separate legal person 3. Limited Liability 4. General Powers of Board 5. Borrowing 6. Finances 7. Directors as agents 8. Share ..
A "contract of guarantee " is a contract to perform the promise, or discharge the liability, of a third person in case of his default. The person who gives the guarantee is called the " surety"; the person in respect of whose def ..
The term agricultural land is not defined in the SARFAESI Act. Agriculture means the science and art of cultivating the soil (S.P. Watel Vs. State of U.P. : AIR 1973 SC 1293=1973 SCR(3 783). Supreme Court in CIT Vs. Rja Benoy Ku ..
It is known that while some loan transactions with the Bank like Housing Loan, Educational Loan etc. are very simple, some commercial loan transactions are very complex in nature. The Bank may provide various loan facilities to the Borrower and mo ..
It has almost settled and become like a regular practice for the borrowers to question the proceedings initiated by the Banks at the last stage under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of ..
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