SARFAESI News

Bad Is Turning Good- From SICA To IBC-The Journey Of Bad Loans In India

Bad Is Turning Good- From SICA To IBC-The Journey Of Bad Loans In India

But it was until implementation of SARFAESI Act that a focused law to govern formation of ARC was introduced. Pursuant to this and the enactment of the SARFAESI Act, many ARCs were formed in India, with ARCIL being the first. As on November 2017, there ...

SBI Mega e-Auction is back! Choose from a list of 1000 properties

SBI Mega e-Auction is back! Choose from a list of 1000 properties

For those looking to buy affordable property having the least chances of fraud and without any legal hassle, here's a good chance. The State Bank of India's much-awaited Mega e-Auction is back, where bids will be opened for close to 1000 pieces of ...

Growing corporate governance propels talent in India's legal sector

Growing corporate governance propels talent in India's legal sector

With the implementation of several regulatory changes and rise in the legal proceedings against companies across sectors, India's requirement for legal professionals has vastly increased. ... has made it essential for professionals to understand the ...

SR Industries Ltd receives notice from SBI under SARFAESI Act

SR Industries Ltd receives notice from SBI under SARFAESI Act

S R Industries Ltd has received a notice under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 from the State Bank of India to discharge the liabilities due and owing to the Bank ...

Insolvency: India Gate basmati rice maker KRBL group eyes REI Agro

Insolvency: India Gate basmati rice maker KRBL group eyes REI Agro

However, banks rejected the plan proposed by the company. It also said several banks had initiated action against the company under the the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act.

India:

India: "High Courts vs Union Of India": Uniformity In Law Prevails Over Territorial Fetters?*

The decision of the Supreme Court in Kusum Ingots pertained to a challenge to the constitutionality of SARFAESI Act, 2002, and the issue in contention was whether the 'cause of action' arose so as to confer jurisdiction on the Delhi High Court as per ...

A step in the right direction

A step in the right direction

The Insolvency and Bankruptcy Code (IBC), a law that was passed in 2016, was established to deal with the core issue that the Indian banking system faces today – rising NPAs that are currently close to Rs 9.6 lakh Crore. IBC was presumed to be a ...and more »

India: Bar On Creation Of Security Interest On Agricultural Land Is Not Absolute – Supreme Court On Sarfaesi

India: Bar On Creation Of Security Interest On Agricultural Land Is Not Absolute – Supreme Court On Sarfaesi

Facts: Blue Coast Hotels Ltd. (Blue Coast) raised a loan, from the Industrial Financial Corporation of India (IFCI) by creation of a mortgage, under a loan agreement. The mortgaged property comprised of the whole of Blue Coast's Goa hotel property ...

Will liquidate insolvent companies if prices are suppressed, says SBI chairman Rajnish Kumar

Will liquidate insolvent companies if prices are suppressed, says SBI chairman Rajnish Kumar

During this period, the average amount recovered through all existing legal channels including Sarfaesi, DRT and Lok Adalats was a paltry 10.8 per cent of the total amount involved. in the last eight years, recovery of bad loans has declined to 20.8 ...and more »

India: Analysis Of

India: Analysis Of "ITC Ltd. vs. Blue Coast Hotels Ltd. & Ors."(Section 13 (3-A) of the SARFAESI Act Is Mandatory ...

In the said case, Industrial Financial Corporation of India (IFCI) had entered into a corporate loan agreement with Blue Coast Hotels for a sum of Rs. 150 Crores. The said loan was secured by creation of special mortgage of debtor's hotel property ...