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SARFAESI ACT
India to mandate facial scans for airport staff, fast-track full-body scanners after Flydubai incidentIndia will make facial recognition mandatory for airline and airport employees and expedite full-body scanner deployment at eight major air...- ARCs seek govt help to speed up recoveryAsset reconstruction companies have called for improved government intervention to accelerate debt recovery through DRTs. They proposed cha...
- Tenant to pay Rs 3.27 crore with 6% interest to landlady for overstaying after rent agreement expiry and eviction notice; Delhi HC orderTenant ordered to pay Rs 3.27 crore with 6% annual interest to the landlady for notvacating the property despite an expired rent agreement ...
- Thinking of guaranteeing a loan? Think again; here’s how your credit score could suffer if the borrower defaultsBecoming a loan guarantor creates significant financial and credit obligations for individuals. The guaranteed loan appears on your credit ...
- Rajesh Exports repays ₹510 crore dues to Canara Bank after DRT orderCanara Bank recovered all dues totaling ₹510 crore from Rajesh Exports. This recovery followed an order by a debt recovery tribunal. The ba...
- Protection in predicate FIR doesn't extend to PMLA case: Delhi HCThe Delhi High Court ruled that predicate offence protection does not extend to money laundering cases. Anticipatory bail was denied to a b...
- Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FMIndia's economic landscape is on a promising trajectory, aiming to exceed five trillion dollars by the fiscal year twenty twenty-nine. To a...
- SC sets aside Madras HC order, restores auction purchaser’s rights in loan recovery caseThe Supreme Court wants the Finance Ministry to check the SARFAESI Act. The court feels some rules are unclear. These unclear rules are cau...
- Banks may get power to auction ships in case of loan defaultsThe government is considering amending the SARFAESI Act, 2002, to allow banks to hold security interest in shipping vessels, removing speci...
- Delhi HC sets aside arbitrator order against Indiabulls in Shipra Mall dispute"Since a specific right is vested in a secured creditor to enforce a security interest, by issuance of a sale notice under Section 13 of th...
- Writ petition not maintainable against proceedings by banks, ARCs under SARFAESI Act: SCCourt opined that filing of writ petitions by the borrowers before the high court under Article 226 of the Constitution in the case was an ...
- Delhi HC asks Govt, Finance Ministry and RBI to consider parity between IBC and Sarfaesi ActAccording to the Sarfaesi Act, asset reconstruction companies that take over stressed assets from lenders cannot infuse equity into an inso...
- Provision of SARFAESI Act empowering DMs to attach secured assets of borrowers directory: SCSection 14 of the SARFAESI Act mandates District Magistrate to deliver possession of a secured asset within 30 days, extendable to an aggre...
- Co-Op banks come under Sarfaesi Act: Supreme CourtThe Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act, 2002, allow banks and financ...
- Change in Sarfaesi Act to give priority to secured creditorsSarfaesi Act was framed to identify and rectify the problem of non-performing assets.
- NCLT rejects insolvency proceedings by Leo Duct Engineers & ConsultantsThe move will help lenders Standard Chartered Bank and Canara Bank to recover their dues under the SARFAESI Act which provides for lenders ...
- Can Jammu and Kashmir residents not repay loans: SBISBI raised a critical question concerning the future of banking in J&K before the SC whether residents of the state could decline to repay ...
- Bring NBFCs under SARFAESI Act: StudyNon-banking finance companies should be brought under the ambit of the SARFAESI Act to enhance investor confidence and ensure robust growth.
- RBI asks NBFCs to register mortgages with Central RegistryThe central bank has asked them to register all mortgages created in their favour on or after 31st March 2011 to check the fraud related to...
- Finance ministry pushes banks to fast-track bad loan recoveryFinMin is pushing PSU banks to hasten recovery of bad loans to improve health, and has promised to fill vacancies at DRT.
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