consider as to what forums or
remedies are available to the borrower to
ventilate his grievance. The purpose of serving
a notice upon the borrower ... that a reply may
be submitted by the borrower explaining the
reasons as to why measures may or may not
be taken under sub-section
case may be is required to give notice to the borrower or any person who may be in possession of secured asset and give ... that if on receipt of the notice under Sub-section (2), the borrower makes any representation or raises any objection, the secured creditor shall consider
each from the second respondent/bank, are hereinafter
referred to as "borrowers". As they defaulted in repayment, the second
respondent/bank issued notices ... Security Interest Act, 2002 (for brevity, " SARFAESI Act ") to the
borrowers, calling upon them to discharge the loan within sixty days
trust and endowment properties for the purposes of the University; (xxvi) to borrow, with the approval of the Central Government, on the security
which is exempted from tax and he accordingly disallowed the interest on borrowed funds invested in shares. The assessee preferred an appeal before ... business of investment and trading in shares, financing and leasing. The funds borrowed by the company from time to time were utilized for such business
case of one loan where the action was initiated, the
borrower filed a writ petition, initiated suit proceedings
and prevented the statutory action for recovery ... made acceptance of payment of
Rs.1,83,669/- given by the borrower by name one
Mr.Vaithilingam on 28.6.2002 under one time settlement
scheme
virtue of a lease deed dated 05.04.2003, duly executed by the principal borrower and the mortgager of the property M/s. Sree Lakshmi Foundry ... state that M/s. Sree Lakshmi Foundry, who is the principal borrower had availed of some loans from the respondent-State Bank of India after
Abdul Nazeer
ORDER
S. Abdul Nazeer, J.
Page 1675
1. Petitioners had borrowed a loan of rupees one crore from the respondent - Corporation ... respondents - Corporation submits that the respondents lend money to the borrowers by availing finance from Small Industrial Development Bank of India, SIDBI and also from
explained that Annexure A-1 contain a recording of monies lent and borrowed by various people undertaken through hirn and that he was earning dalali ... names and addresses of the persons entered therein namely, the lenders and borrowers, were identified by the said 'dalal'. On the basis
with regard to exact and intended meaning of the word "borrower" as defined under Section 2(f) read with Section ... counsel appearing for the appellants that the definition of the word 'borrower' and the meaning given thereto would not and cannot extend
