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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..

01: After nationalisation of banks in 1969 and 1980 the menace of private lenders came down since the banks achieved phenomenal geographical growth. Even though, it was impressive quantitative achievement, the banks suffered financial losses year after year due to low efficiency, productivity, bad portfolio performance and eroded profitability. The public sector ..

The Editor of a national daily published from the national capital started a storm in the tea cup by publishing a make-believe story that the Army had moved troops to areas around Delhi when the spat between the Army Chief and the Raksha Mantri was snowballing. The story caused a furore and both the Government of India and the Army Chief did a lot of fire fightin..

I. INTRODUCTION   We are living in a rapidly ageing world today. The number of elderly people is growing at an alarming pace. Ageing of population is primarily the result of reductions in fertility and mortality. The demographic studies indicate that t..

The Army marches on its stomach, so said Napoleon Bonaparte. He knew what he was talking about. If the govt of the day ignores soldiers’physical fitness, mental alertness and spiritual wellness and does not arm, equip and train the battle formations in modern warfare, it is obviously courting defeat at the hands of the well prepared enemy. Is India, that is..