Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Cheque issued as collateral security - Held, collateral security cannot be executed or enforced by way of filing a criminal proceedings u/s 138 of the Act...........
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13, Security Interest Enforcement Rules, 2002, Rule 8(5), 8(6), 9(2) - - Sale of secured assets - Held, proceedings under SARFAESI Act, 2002 against borrowers are initiated only when borrower is in dire-straits - Banks and financial institution to ensure that such..........
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13, Security Interest Enforcement Rules, 2002, Rule 8(5), 8(6), 9(2) - - Sale of secured assets - No terms settled in writing between parties that sale can be effected by private treaty - Borrowers not even called to joint meeting - Sale effected without complying..........
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13, Security Interest Enforcement Rules, 2002, Rule 8(5), 8(6), 9(2) - - Sale of secured assets - Single judge of High Court after holding that sale in question was invalid directed making of payments by respondent Nos.1 and 2 to respondent No.3 bank with clear..........
Criminal Procedure Code, 1973, Section 173(8), Indian Penal Code, 1860, Section 302 -- Murder - Further investigation - Transfer of investigation to CBI - Permissibility - Charge-sheet has been filed and departmental action taken against erring officials - Held, matter cannot be referred to CBI for further investigation after filing of charge-sheet by State Investigating..........
National Security Act, 1980, Section 3(3) -- Detention order - Validity - Detention order issued when petitioner was in judicial custody and had not moved any application for bail - Held, detention order liable to be quashed - Petition allowed...........
Constitution of India, 1950, Article 227 -- Restitution of possession - Suit for possession filed by decree-holders was decreed by first appellate Court - In wake of RSA filed by petitioners-JDs, operation of decree was stayed, subject to furnishing of security for a sum of Rs.5 crores - JDs neither handed over possession of property in litigation to DHs nor furnished..........
Civil Procedure Code, 1908, Order 7, Rule 11, Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 34 -- Declaratory suit pertaining to forged guarantee documents - Rejection of plaint - Jurisdiction of civil Court - Held, S.34 of the Act bars jurisdiction of civil Court in case documents of loan/guarantee..........
Contract Act, 1872, Section 171, 174 -- Gold ornaments offered as security while availing loan - Bank can retain the same even after loan is cleared on the ground that borrower has not discharged his liability of another loan - Bank has a general lien over all forms of security including gold ornaments deposited by or on behalf of borrower in the ordinary course of banking..........
Contract Act, 1872, Section 176 -- Banking Regulation Act, 1949, S.8 & Schedule III - Loan on security of gold ornaments - Default in repayment of loan - Sale of gold ornaments is part of banking business - Bank sells the goods not as agents of borrower but as pledgees...........
