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BankDRT:: Debts Recovery Tribunal ( DRT, DRT Auctions, DRT Act, DRT Rules) SRFAESI Act

MDs of Syndicate Bank and Indian Bank likely to resign in the wake of Rs. 600 Cr IDBI fraud case being investigated by the CBI. These two men were working in the IDBI when the fraud took place.



Power infra companies failed to get any relaxation in the NPA norms. Unless these companies are able to raise funds from 3rd parties and pay of their debts, most of them will end up on the tables of CLT under the Insolvency and Bankruptcy Code.



Vijay Mallya loses UK suit filed by a consortium of 13 banks seeking to recover about $1.55 billions. Order passed by DRT Bangalore can now be enforced against his international assets.



Tata Steels is unable to take over and run Bhushan Steel despite having successfully bid and taken over the plant at the insolvency and bankruptcy proceedings.



Ranbaxy Case: The Singh brothers lost the Delhi High Court battle to stall the enforcement of the arbitration award against them from Daiichi Sankyo. Now they will have to pay about Rs.3,500 Cr. Earlier the HC had upheld the arbitration award and enforceable in India.



Was Aircel's default to the IDBI a operational default or a fraudulent default? That itself is a million dollar question.



What is NPA?

NPA stands for non-performing assets, a  word coined by the bankers to the refer to   accounts which have not serviced their interest component for a defined period.   The time period for an account to be declared as non-performing asset varies from PSU banks to private banks to NBFCs.

 

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NPA norms relaxed for GST registered MSN me units

The Reserve Bank Of India has relaxed  the norms for classification of accounts as Non-Performing Assets in respect of GST registered MSME units.   The time period is  now is 180 days instead of earlier being 90/120 days of delinquency in respect of loans from banks and NBFCs.

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Relief for Bank Customer under Consumer Protection Act

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Vishal N. Kalsaria Versus Bank of India & Ors.

SARFAESI Act is not superior to State Rent Control Acts

SARFAESI Act cannot be used to bulldoze a tenant out of a mortgaged property without the due process of law under the  local  rent control Laws.

Tenancy created even after mortgage is entitled to same protection as a tenancy before the mortgage.; Tenancy under un-registered agreement is equally valid;
 

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Ultra Tech Cement Ltd. versus Rakesh Kumar Singh & Anr.

Decision by Supreme Court of India

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Bharat International & Anr Vs. State Bank of Travancore & Anr.

Consumer Disputes Redressal Forum can hear a complaint of a person, against whom the DRT has passed an order of Recovery

The issue before the National Consumer Disputes Redressal Commission is different from the one before the Debt Recovery Tribunal

The Consumer Dispute Redressal Forums cannot hear complaints on the amounts decreed by the Debt Recovery Tribunals.

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Hot Trending Topics


Don’t litigate as a reflex action. Plan it properly

Caught with its pants down, HSBC Bank agrees to pays $ 101 million to ward off criminal proceedings.

Do you have a dedicated lawyer on call? Try this scheme.

Do you know tenants cannot be evicted under the SARFAESI Act?








More Articles from our Archive

The Debt Recovery Tribunals should hear the parties.

Cannot take Bank’s money and go away.

Receivers who do not act in the best interest of the properties placed in their hands can be prosecuted.

Mardia Hearing Starts – ex-parte stay given

Latches – detrimental to auction
FAQ on ADJOURNMENT

1. What are adjournments before the Debts Recovery Tribunal?
2. What is the difference between adjournment and condonation of delay in the Debts Recovery Tribunal?
3. What is the difference between adjournment and asking more time in the Debts Recovery Tribunal?
4. How many times can a person seek adjournment before the Debts Recovery Tribunal?
5. How to seek adjournment before the Debts Recovery Tribunal?

Read Full FAQ...