CiteTEXT
...property. Proceedings were initiated under the SARFAESI Act, 2002, against which the petitioner contended before the learned Single Judge that by virtue of Section 60(1)(c) of the Code of Civil Procedure,...) of the SARFAESI Act, 2002.4. The learned counsel for the appellant submitted that the petitioner was a labourer and had taken a loan for the purpose of marriage of his sister. Hence, he is fully protected by ...the SARFAESI Act. Section 31(g) of the SARFAESI Act reads as follows:“(g) any properties not liable to attachment (excluding the properties specifically charged with the de...
...the Petitioner was given as security. Section 31(i) of the SARFAESI Act excludes the provisions of SARFAESI Act with respect to agricultural land. Therefore, the Bank wa..., licence, franchise or any other business or commercial right of similar nature.9. Section 31 of the SARFAESI Act deals with certain items of property which are excluded from the purview of...SARFAESI Act. Section 31(i), provides that the provisions of the Act shall not apply to any security interest created in agricultural land.10. The learned Counsel for the Petitioner...
...stipulated under Rule 9 of the Rules, 2002. The High Court also observed and held that in view of Section 31(i) of the SARFAESI Act, the property Item No. 8 being an agricultural land could not have...SARFAESI Act in view of Section 31(i) of the SARFAESI Act.14. It is submitted that as such the scheduled properties were not actually put to use for agricultural p...use for agricultural purposes and/or no agricultural activity was going on, the properties in question were not exempted under Section 31(i) of the SARFAESI Act. Heavy reliance is placed on the...
...District Judge, Bharatpur for a decree of declaration to the effect that the mortgage interest of the bank in the non-petitioners' property may be declared unenforceable under the "SARFAESI Act" without interference of the civil cou...interpreted "security interest" as defined in Section 2 (ZF) of the "SARFAESI Act". The petitioner has a right to enforce its security interest over the properties mortgaged by way of equitable mortgage by the respondents i...the "SARFAESI Act". Section 31 of the "SARFAESI Act" as well as Sections 125...
...Mandamus declaring that the petitioner having fulfilled the statutory conditions as per Section 31(j) of the SARFAESI Act is eligible to the benefit of the above section and no...conditions as per Section 31(j) of the SARFAESI Act is eligible to the benefit of the above Section and no further liability exists.2. As per...Section 31(j) of the SARFAESI Act, the proceedings under the SARFAESI Act can be initiated only if the outstanding due payable by the borrower is more than 20%. The resp...
...Section 26-E of the SARFAESI Act. Hence, the subsequent charges if any created will not bind the petitioner's finance company. Section 22-B cannot be invoked in respect of an involuntary transfer namely the sale un...of the SARFAESI Act:-
"Section 31-B Priority to secured...Commissioner of Commercial Tax Department, Thirumangalam, Madurai District.
4. The learned counsel for the petitioner would submit that Section 26E of the SARFAESI Act deals...
Can't display summary as content is Scanned, Please open the judgment to see full content.
...against the petitioner herein under SARFAESI Act, 2002.”
4. Learned counsel for the petitioner submits that the secured asset has been leased out by partners of the firm (petitioner nos. 2 and 3) in favour of the fir...) of the SARFAESI Act, 2002. He further submits that although Section 31 (e...notice under Section 13 (2) of the SARFAESI Act, 2002 contending that in view of provision contained in Section 31 (e) of the SARFAESI Act, 2002, the property in question is exempted from...
...actually agricultural lands exempted under Section 31(i) of the SARFAESI Act, the Petitioners filed W.P Nos. 25167 of 2008 and 25816 of 2008 challenging the action of the 3 Respondent...observed as follows:“9. Section 31 of the SARFAESI Act deals with certain items of property which are excluded from the purview of SARFAESI Act. Section 31(i) pro...authority to initiate proceedings under the SARFAESI Act. It is open to the Bank to recover the amount due in any other manner known to law. The invocation of the SARFAESI Act alone is held to be barred in view of ...
...ground that the Suit is barred by the law under Section 34 of the SARFAESI Act. The petitioner has filed another plaint by rectifying the defects by invoking Order 7 Rule 13 of C.P.C for the reli...based on the same cause of action. The provision of the said Act will not applicable to the cases mentioned under Section 31 of the SARFAESI Act. The relief claimed by the petitioner falls under...Section 31 G of the SARFAESI Act. As per Section 60(1)A of C.P.C the property in question is not attachable. Therefore the Suit is maintainable. The...
...of Security Interest Act, 2002 (for short, ‘SARFAESI Act’). The secured asset has been sold under the provisions of the SARFAESI Act but respondent No. 2 has refused to register the sale certificate in vie...Recovery of Debts and Bankruptcy Act, 1993, read as follows:
“Section 26 E : - Notwithstanding anything contained in any other law for the time being in force, after the registration of...Government or local authority.”
“Section 31 B : - Notwithstanding anything contained in any other law for the time being in force, the rights of secured creditors to realize secured debts...
...Section 13(2) of the Sarfaesi Act was issued to the respondent on 21-1-2015. The objections under Section 13(3-A) were considered, and rejection was communicated by the appellant on 31-3-2015. Possession..., which had to be excluded under Section 31 of the Sarfaesi Act. There had been violation of the principles of natural justice. A large number of similar writ applications are pending before the High...proceedings at the stage of Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred as “the Sarfaesi Act”), on...
..., capricious and violative of principles of natural Justice and against the provisions of Section 26(E) of the SARFAESI Act and Section 31 (B) of the RDB Act and Section 48 of Transfer of...(0.232 hectares) contained in Survey No. 157/1, situated at Rajayyapet Panchayat/Village, Rajam Mandal, Srikukulam District under Section 36 of the A.P. Revenue Recovery Act as arbitrary, illegal...
...Recovery Act as arbitrary illegal, capricious and violative of principles of natural Justice and against the provisions of Section 26 E of the SARFAESI Act and Section 31 B of the RDB Act...the Respondent No.2 fixing the date of auction on 10.10.2023 in bringing the properties of Respondents Nos.3 to 5 to sale as mentioned in the FORM 7A issued under Section 36 of the A P Revenue...Transfer of Property Act and pass."
3. This petition was filed challenging the auction notice dated 11.09.2023 fixing the date of auction as 10.10.2023...
...as the 'SARFAESI Act', rejected the contention of the appellants that the provisions of Section 31(j) of the SARFAESI Act would operate to insulate them from any recovery action under the ...payment was made. The respondent financial institution, therefore, proceeded to issue the notice under Section 13(2) of the SARFAESI Act on 12.12.2016 (Ext.P1).
3. As already noticed, before t...occasioned by the appellants was less than 20% of the principal amount of the loan together with interest thereon, the notice issued under Section 13(2) of the SARFAESI Act was without jurisdiction. The said contention did ...
...agricultural property and same is exempted from the provisions of the SARFAESI Act, 2002. Reference is made to Section 31 of the SARFAESI Act, 2002.
2. The learned senior counsel f...the respondents under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (herein after referred to as ‘SARFAESI Act, 2002). The...
...properties have been recorded as agricultural properties in the revenue record would not be sufficient to exempt them from the provisions of SARFAESI Act in view of Section 31(i) thereof. It is only...
3
land and this fact is established by the borrower that the property can be said to be exempted under Section 31(i) of the SARFAESI ...agricultural land, such properties cannot be said to be exempted from the provisions of the SARFAESI Act under Section 31(i) of the SARFAESI Act. Applying the law laid down in the aforesaid two de...
...section 31(j) of SARFAESI Act, if the outstanding was less than 20% of the loan with interest, the secured creditor, has no right to initiate or continue the proceedings under...service committed by the opposite party such as holding of the properties till 2011, unlawfully debited Rs.319000/- violation Section 31 (j) SARFAESI Act the complainants entitled to reliefs b and c that...but the opposite party has not done the same and continued the proceedings against 31(j) of SARFAESI Act. SARFAESI Act Section 31 reads as follows:- The provisi...
...in Reddypatti Revenue Village, Sendhamangalam Taluk in Namakkal District standing in the petitioners name are exempted from the purview of SARFAESI Act, as per Section 31(1) of the said Act. For...Village, Sendhamangalam Taluk in Namakkal District, standing in the name of the petitioner, as exempted from the purview of SARFAESI Act, 2002 as per Section 31(1) of the said Act....
2. Material on record discloses that earlier, the District Collector Cum District Magistrate, Namakkal District, has passed an order under Section 14 of the SARFAESI Act, 2002 authorisi...
...raised a contention that the plea raised therein that the property in question is an agricultural property exempted from the provisions of the SARFAESI Act, by virtue of Section 31 of the Act, was not...provisions contained in Section 31 of the SARFAESI Act. Admittedly, such a plea was not either pleaded or urged when the writ petition was considered. This according to the petitioners, i...prayer for quashing the SARFAESI proceedings also was sought for, in the nature of the relief that was pressed, that prayer was not considered. Accordingly, the application made by the petitioners for...