Agreement to sell -- Specific performance - Unfair advantage - Where a money lender having an unfair advantage over borrower/marginal farmer entered into an agreement to sell qua immovable property with him, he cannot in discretion of Court be entitled to decree of specific performance. (Specific Relief Act, 1963, S.20)..........
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 17, 13 -- Stay from dispossession - Issuance of notice u/s 13(4) of the Act - Borrower paid amount as demanded by bank for regularization of accounts - Stay from dispossession granted - However, order does not prejudice the banks right in event of their being..........
Bank Guarantee -- Specific lien created for FDR, as security for bank guarantees issued in favour of Sales Tax Department - Bank Guarantees could have come to end if either Sales Tax Department had issued letter stating that Department has no longer any claim on bank - Specific lien never cancelled and FDRs were never available as general deposits for bank to claim..........
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13(8)(ii) -- Where borrower pays the amount demanded fro him, secured creditor is barred from proceeding with process of transfer of secured assets...........
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13(2), 13A -- Auctioning of asset - Default in re-payment of loan - Petitioner is bound to repay loan amount and cannot pass on blame to Bank for being unable to realize a value for security asset, which is considered just and proper - Bank has not maintained..........
Civil Procedure Code, 1908, Order 1, Rule 10 -- Impleadment of Bank as a party - Suit for mandatory injunction - No dispute inter se bank and borrower - No relief sought against Bank - Cause of action disclosed in plaint is that plaintiff is owner of disputed property and defendant is its licensee who has not vacated despite termination of license - Relief of mandatory..........
Debt Recovery Appellate Tribunal (Procedure) Rules, 1994, Rule 22 -- Auction sale - Setting aside - Mortgage property - Sale was confirmed and sale certificate was issued in favour of auction purchaser - Merely because property in question was sole item of property owned by borrower/respondent no.2, is no ground to set aside sale deed, particularly, when auction purchaser..........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13(2), Security Interest Enforcement Rules, 2002, Rule 8(5), 9 -- Secured asset - Sale of secured asset consequent to taking over possession if borrower has failed to clear outstanding liability - Mode of sale referred to in R.8(5) of the Rules after giving notice..........
Motor Vehicles Act, 1988, Section 163A -- Accident - Compensation - Claimant failed to prove that he was an employee of respondent - Claimant did not summon his employer but chose to take that chance probably he would not have supported him - Onus was heavy upon claimant and he was to prove that owner was employer - Since claimant had failed to prove his employment, it..........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13(1) -- Recovery of dues - Publication of demand notice in newspaper along with photograph of defaulter - No record maintained by respondents that there is reason to believe that publication of demand notice in newspaper has become absolutely essential for making..........
