Defendant was functioning as an
erstwhile Director. Since the loan availed from UBI has not been
discharged, the Bank had moved the DRT-1, Kolkata
Mr.V.G.Santhosam vs Mrs.Shanthi Gnanasekaran on 24 February, 2020
Author: S.M
development.
3. The Code seeks to provide for designating the NCLT and DRT as the Adjudicating Authorities for corporate persons and firms and individuals, respectively ... Board or designate any financial sector regulator to exercise the powers and functions of the Board. Insolvency professionals will assist in completion of insolvency resolution
Janata Sahakari Bank Ltd vs Tax Recovery Officer Vii on 19 July, 2021
Author: S
that Section 17(3) of the SARFAESI Act
enables the DRT to restore possession.
12. Mr. Jerin Matthew, learned counsel for the Bank ... paragraph 8, it was held that the District Magistrate
exercises ministerial functions under Section 14 . He also referred to the
judgment in the Manish Makhija
disputed by the bank the remedy of the petitioner is to approach DRT by way of an application under Section 17 of the SARFAESI ... matter under Tamil Nadu Buildings (Lease and Rent Control) Act , but not DRT under SARFAESI Act . He would cite a Division Bench authority of this
Banks and Financial Institutions Act, 1993 (hereinafter referred to as the ' DRT Act '), the Limitation Act and also the judgments relied ... Debts Recovery Tribunal (Procedure) Rules, 1993, (hereinafter referred to as 'DRT Procedure Rules'), the Tribunal is required to forward a copy of every
cause list could not be verified through website, which was not functioning after 27.01.2017 and that absence on the abovesaid date, was neither wilful ... record, appeared for the Bank and prayed to condone the delay. DRT-III, Chennai, did not entertain his appearance and adjourned the matter and therefore
submission that the plaintiff ought to have disclosed the fact
that DRT was approached against the sale scheduled last year ... grant of an ad
interim injunction in such areas of the functioning of the capital market
and public issues of the corporate sector and whether
that Section 17(3) of the SARFAESI Act
enables the DRT to restore possession.
12. Mr. Jerin Matthew, learned counsel for the Bank ... paragraph 8, it was held that the District Magistrate
exercises ministerial functions under Section 14 . He also referred to the
judgment in the Manish Makhija