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


DRT Siliguri notified and work re-distributed amongst DRTs in Kolkatta and DRT Siliguri





DRT-3 Chandigarh notified and work amongst DRT-1,2 & 3 Chandigarh re-distributed



This Diwali plan to take a Law Firm on Board!

Diwali is time for planning for next year and the years beyond.  One good idea could be to  have a law firm on board to help you hedge off possible unexpected costly legal expenses.

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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.

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Unfortunate State of Indian Judiciary

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.

By – PRERNA MEHTA

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Consumer forum asks ICICI Bank to pay Rs 75,000 to complainant

Consumer Forum Chandigarh has imposed a penalty of Rs. 75,000/- on ICICI Bank for confiscating and selling off a vehicle of a borrower.

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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.

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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.

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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.

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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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Madhu Bajaj (Smt.) vs. Oriental Bank of Commerce

Where the signatures are disputed it is necessary to get them examined with the help of experts.

The judges must not venture to examine and compare the signatures between those of disputed and admitted ones.

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All NPA accounts to be declared Willful defaulters?



Banks race against each other to declare Vijally Mallya as willful defaulter.



United Bank of India declares Vijay Mallya as Willful defaulter.



Other Banks may follow suit and declare Vijay Mallya as Willful defaulter.



Big debate – whether the procedure for declaring a person as a Willful defaulter is judicious, transparent and non arbitrary? Send us your views




More Articles from our Archive

Re-auction is the only remedy for Irregular Auction.

The DRTs cannot enlarge the demand from what was sought in the S. 13(2) Notice

OTS with bank does not mean removal of name from special watch list by ECGC.

Complicated recording of evidence has to be done by DRTs

AP High Court admits PIL against Presiding Officer DRT Hyderabad.
FAQ on CORPORATE DEBT RESTRUCTURING SCHEME

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?

Read Full FAQ...