Impaired Asset & problems for small time borrowers.
After demonetisation and bringing in Benami properties Act, value of real assets have fallen down sharply. This has worried the Banks as they had granted loans based on value of the assets. Such assets have been termed as Impaired assets.
Pursuing my first internship at a Law Firm in Delhi, today was my ‘one of the few’ visits to a court (basically, Tribunal). I was enthusiastic to know the court proceedings- how do they take place, what all is required, how the counsels argue, what do judges take into consideration while granting a decision.
Consent and limitation are no bar for challenging a unlawful compromise
A compromise decree which is not in accordance with the law cannot be enforced even if the period of limitation has lapsed and the decree has attained finality, and also, even though it was a consent decree.
Chandigarh HC orders scrutiny of records of Debts Recovery Tribunal at Chandigarh and immediate setting up of web site.
The Chandigarh High Court has ordered its Registrar (Vigilance) to examine the records of the Debts Recovery Tribunals at Chandigarh to verify as to whether records have been maintained truthfully, amongst other things.
BANK OF NEW YORK MELLON LONDON BRANCH versus ZENITH INFOTECH LIMITED
Acceptance of filings in Registry and its scrutiny is a clerical/ ministerial work. It involves no judicial activity on the part of the Registry, who have no discretionary powers. The Registry works on delegated ministerial powers only. Therefore the Registry cannot reject an application on any ground.
Since SICA has been abolished matters pending before BIFR/ AAFIR would automatically stand transferred to CLT. A matter on remand from the Supreme Court to BIFR from AAFIR would also stand transferred to CLT.
1. To which category of Banks is CDR applicable?
2. What is the aim of the CDR scheme?
3. Is it mandatory for the Banks to comply with the CDR scheme?
4. What is CDR standing forum?
5. What is CDR Empowered Group?