Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13, 35, Central Excise Act, 1944, Section 11E -- Finance Act, 1994 - Recovery of debts - Recovery of excise dues outstanding against person from auction purchaser - Excise dues is not a liability arising out of land, building or machinery - Excise duty is payable..........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 18 -- Appeal - Total waiver of deposit amount by Tribunal - Appellate jurisdiction u/s 18(1) of the Act is circumscribed by condition to deposit 50% of debt amount, however, Tribunal has discretion to reduce it to not less than 25% of debt amount due - Total waiver..........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 14 -- Taking possession of secured assets - Challenge against order passed by Chief Judicial Magistrate exercising power u/s.14 of the Act in non-metropolitan area - Plea of petitioner that S.14 of the Act clearly provides power with Chief Metropolitan Magistrate..........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13(8), Transfer of Property Act, 1882, Section 60 -- Enforcement of security interest - Borrower`s right of redemption - Neither borrower deposit balance due to secured creditor nor effort made by borrower to deposit the amount - Even, no objection raised by..........
Central Excise Act, 1944, Section 11, Customs Act, 1962, Section 142, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13A -- Customs Attachment Rules, 1995 - Excise duty - Liability - Recovery and auction letter issued by Central Excise Department against petitioner/purchaser - Mere purchase of some of..........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 -- Secured asset - Auction - Prospective buyer should aware of claims of home buyers as such a course is necessary not merely to safeguard the interests of home buyers but also to make prospective buyer aware of existence of claims of home buyers in respect of land that he..........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 17(1) -- Secured assets - Borrower/debtor can approach Debt Recovery Tribunal (DRT) u/s 17 of the Act, at the stage of possession notice referred in R/8(1) and 8(2) of 2002 Rules...........
Transfer of Property Act, 1882, Section 130, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 17(1) -- Transferee of actionable claim - Substitution - Secured assets - Appellant initially filed application for substitution as a secured creditor under SARFAESI Act consequent to assignment of debt to it - After..........
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 31 -- Security interest in agricultural land - Non applicability of provisions of Act to security interest created in agricultural land - A particular piece of land whether agricultural in nature in a question of fact - Classification of land in the revenue records..........
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13, 34 -- Mortgage/Secured property - DRT and DRAT concurrently held that respondents legitimately created an equitable mortgage in respect of flat in question in favour of Bank, which has security interest upon said flat - Respondents failed to file any..........
