SARFAESI recovery actions can be challenged only before the Debts Recovery Tribunal and its Appellate Tribunal, the Supreme Court has held, so a borrower who says a secured asset was wrongly sold cannot take that claim to a civil court; a Madhya Pradesh High Court direction that kept a damages suit and criminal proceedings open […]
The Patna High Court has held that a writ petition by a widow who says she is neither borrower nor guarantor, challenging a Darbhanga Collector’s 2019 order giving Punjab National Bank possession of a property that includes her dwelling house, is not maintainable because Section 17 of the SARFAESI Act provides an effective remedy before the Debts Recovery Tribunal.
The Supreme Court has set aside IFCI’s 2011 SARFAESI sale of the Fernhill resort at Ooty to M/s P.M. Associates, holding that a bid was received despite the DRAT’s restraint, the sale was completed before the mandatory 30-day period expired, and the certificate was issued to a firm that did not bid, and has allowed the borrower’s appeals.
The Allahabad High Court judge candidly recorded that he was “hungry, tired and physically incapacitated” after hearing a matter beyond working hours due to a heavy cause list and a deadline set by the Supreme Court of India. The rare remark highlights the intense workload and mounting pressure on High Court judges amid massive case pendency.
The Delhi High Court has issued a contempt notice to BluSmart, Gensol, and others for allegedly violating a court order regarding 10 Tata Tigor EVs. Shefasteq claims the companies obstructed efforts to locate the vehicles and failed to provide required information. Legal proceedings involving Gensol have escalated amid serious allegations from SEBI.
The Supreme Court ruled that a borrower does not qualify as a consumer under the Consumer Protection Act if the loan is taken for profit-making purposes. A bench comprising Justices Sudhanshu Dhulia and Prashant Kumar Mishra made this observation while hearing an appeal by the Central Bank of India against a decision of the National Consumer Disputes Redressal Commission (NCDRC). The ruling clarifies the scope of consumer rights in financial transactions.
Today, On 2nd August, The Supreme Court called for a separate Debts Recovery Tribunal in Jammu & Kashmir due to its unique topography, despite the option of virtual access to the Chandigarh DRT. This move aims to provide more effective resolution of cases in the region, addressing concerns about access to justice for individuals and businesses.
Former Solicitor General Ranjit Kumar recommends that the Modi government prioritize appointing new judges to address vacancies in the judiciary, rather than assigning retired judges to tribunals. He highlights the criticism faced by tribunals for backlogs and delays, emphasizing the need to expand the judiciary. Kumar also discusses potential delays in implementing criminal laws and reforms due to the structure of the coalition government.