corporate law

Section 13(4) of SARFAESI Act provides for four different measures that a secured creditor can take in the event of the borrower’s failure to comply with the demand notice issued under Sec.13(2) the said Act. They are as under: &n..

  “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 over the citizens for recovery of the statutory dues i.e., citizens are bou..

Latest amendment i.e. sub-Sec.5A to Sec.13 of SARFAESI Act allows secured creditor to authorize any of its officer to participate. Sub-Sec 5A is extracted and reproduced hereunder:   “(5A) Where the sale of an immovable property..

1. The Hon’ble 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 2002 (for brevity the Act) had held that secured cr..

  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 provisions of SARFAESI Act, 2002 (The Securitisation and Reconstruction of Financ..

Scottish proverb: ‘Law’s costly ... tak’ a pint and ‘gree’   International arbitration is about settling disputes between businesses, occasionally between businesses and States or State entities. International arbitratio..

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. span lang="EN-US" style="font-sizee: 12pt;..

.style4 { font-weight: bold; } On this issue there are controversies among various High Courts. We may note the views of some of the High Courts are stated hereunder:span lang="EN-US" style="font-famil..

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 procedure was initiated by the company, Thus, the E form 23 (was filed with MCA for registering resolutions relevant to bonus issu..

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Introduction  ..

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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 default the g..

The term “agricultural land” is not defined in the SARFAESI Act. Agriculture means the science and art of cultivating the soil (S.P. Watel..

.style1 { font-weight: bold; } 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 lo..