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In England the position at common law is that there is no requirement that reasons should be given for its decision by the administrative authority1. There are, however, observations in some of the Judgments wherein the importance of reasons has been emphasized. In a case, Lord Denning observed that:   p style="tex..

Taxing statutes provide to the effect that Notwithstanding anything contained in any contract to the contrary, but subject to any provision regarding first charge in any Central Act for the time being in force, any amount of tax, penalty, interest or any other sum, payable by a dealer, or any other person under the Act, shall be the first charge on the property of..

Representation by lawyer in a departmental inquiry:   The question often arises as to whether the delinquent should be allowed to hire the services of the lawyer for the purpose of effective representation in a departmental inquiry. This would depend upon the &ldquo..

This is in apropos to the article of Mr V. D.Rao published on 6th of June 2012. I have gone through the article. This article is quite praise worthy and full of facts. It focuses on the apathy of the borrowers who are subjected to litigation under the Securitization Act. It is my personal experience that some time for small reasons borrower has to face ..

The Magistrates perform ministerial functions under Section 14 of SARFAESI Act. Sec.14(3) of the Act provides for immunity. Section 34 of the Act bars civil court’s jurisdiction in order to avoid adjudication of cla im (which is time consuming process) and the jurisdiction to scrutinize the legality of the action is conferred to the DRTs (after the stage of..

The quality of corporate governance is also determined by the manner in which top management, particularly the Board of Directors, allocates the financial resources of the company as between themselves and other interest groups such as employees, customers, government, etc. the basic qualities invariably expected in this regard are trust, honesty, integrity, trans..

Incidents of wild animals straying out of their natural habitats attacking human beings and causing destructions to properties have become too frequent. Such incidents are neither being reported and even it is reported, it is done without giving its true significance. Such incidents are nothing but nature’s warning. If it not taken care of immediately, then ..

“Nothing succeeds like success” - is the old saying. World recognizes, respects, and rewards successful people. George Bernard Shaw said, “Ordinary people adapt themselves to the world. The extra-ordinary person tries to adapt the world to him. Hence the progress and development of the world is through extra-ordinary people.” These people..

As a precursor to the Real Estate and Construction Legal Summit, speakers share their view points on state of current laws and why there is an urgent need for reforms.   “Presently most of the central laws governing various aspects of real estate and construction sector are an..

In spite of steady, regular income there are so many individuals who live paycheque to paycheque, carry their credit card outstanding, and fail to save anything for retirement. If you are one of them, now is the right time to take action to come out of debt and stay out of debt. It is not only possible; it is unbelievably achievable. p style="text..

Many instances have been reported that the Authorised Officer and the Presiding Officer of DRT rejecting the claim for loss and damages or counter claims by the borrowers under SARFAESI ACT. Such rejections are based on the mistaken notion that there is no rule under SARFAESI ACT to put up such claims to the Authorised Officer or to DRT. Due to this false notion, ..

In Ramco Super Leathers (P)Ltd. Vs. UCo. Bank 2007(2) DRTC 747 Mad. Madras High Court held that, merely because a secured creditor has taken possession, issued sale notice and also sale certificate in favour of the purchaser, does not render the tribunal powerless to restore the possession in favour of the borrower if the action taken by the secured creditor is f..

Jurisdiction of civil court is barred from entertaining any suit or granting any injunction against action taken under the Act as the statue confers jurisdiction over the subject matter to DRT only.   But civil court’s jurisdiction is not barred in respect of sub..

“Debt” is defined in Sec. 2(g) of RDDB & FI Act. [Same definition is assigned to SARFAESI Act vide Sec. 2(ha)]. The definition reads thus:   “2(g) ‘debt’ means any liability (inclusive of interest) which is claimed as due from any pers..

Even as a global phenomena in banking, some NPAs are bound to exist and are inevitable because of the very nature of bank’s business in dealing with people and money and giving support to growth of the economy, but these are supposed to be generally within manageable limits. NPAs whether secured or unsecured initially become bank’s burden, but gradual..