When Lender Merges With ‘Financial Institution’, Successor-In-Interest Entitled To Recovery Under SARFAESI ActThe Supreme Court bench of Justice A. K. Sikri and Justice Ashok Bhushan recently held that where an entity granting a loan is not a ‘banking company’ or a ‘financial institution’ under clauses (d) and (m), respectively, of Section 2(1) of the SARFAESI Act of 2002,...
When Lender Merges With ‘Financial Institution’, Successor-In-Interest Entitled To Recovery Under SARFAESI Act
The Supreme Court bench of Justice A. K. Sikri and Justice Ashok Bhushan recently held that where an entity granting a loan is not a ‘banking company’ or a ‘financial institution’ under clauses (d) and (m), respectively, of Section 2(1) of the SARFAESI Act of 2002, but subsequently merges with a ‘financial institution’, the successor-in-interest shall be deemed to be a ‘secured creditor’ for the purpose of Section 2(1)(zd) of the Act and shall be entitled to effect recovery in accordance with Section 13 of the Act.
Doctrine Of Sub-Judice Cannot Negate Free Speech
The Supreme Court rejected Adarsh Cooperative Housing Society’s plea to restrain release of a feature film “Aiyaary” which allegedly projects the society in an unacceptable manner and that is likely to have some impact on the litigations. A three-judge bench headed by Chief Justice of India Dipak Misra observed: “The doctrine of sub-judice may not be elevated to such an extent that some kind of reference or allusion to a member of a society would warrant the negation of the right to freedom of speech and expression which is an extremely cherished right enshrined under the Constitution.”
Examine Measures For Rehabilitation Of Women Prisoners And Their Children: SC To Amicus Curiae
The Supreme Court, last week, directed amicus curiae Advocate Gaurav Agarwal to examine the issue of rehabilitation and welfare of women prisoners and their children, on a suo motu petition initiated by the Court in 2013.
SC Helps Couple To End Prolonged Matrimonial Litigation By Allowing Divorce By Mutual Consent
The Supreme Court recently allowed divorce by mutual consent in a matrimonial case by closing a prolonged litigation. A bench of Justice Kurian Joseph and Mohan M Shantanagouder was hearing an appeal against a judgment of the High Court of Andhra Pradesh and Telangana.
Motor Accident Claim: SC Refuses To Entertain Contention Of Insurance Company Regarding Contributory Negligence On Part Of Driver
While hearing an appeal against a 2017 Delhi High Court judgment in a motor accident claim, a Supreme Court bench of Justice Kurian Joseph and Justice Mohan M Shantanagoudar recently refused to entertain the contention of the insurance company that the contributory negligence of the taxi driver had not been established.
SC Settles Conflicting Arbitration Awards On Price Adjustment Issue In NHAI Contract
The Supreme Court bench comprising Justice AK Sikri and Justice Ashok Bhushan observed that the very nature of price adjustment suggested that such variation would have relevance with the price which was indicated in respect of these components at the time of submitting the tender by the successful. This adjustment which has to be arrived at, naturally, has to be in comparison with the base price that was. Therefore, the court felt that from the common-sense point of view, it is the base price which has to be kept in mind while working the price adjustment.