Raju Mathew and Ors. vs. State of Kerala and Ors.
[1 2016 BC 74 (KER.) Para 14]
Therefore, Impugned Order is predicated on the
unsolicited ... priority, but
instead of doing so put a halt to the second Swiss
Challenge Process.
(v) It is not true that the second Swiss Challenge
stake stake stake
Company Appeal (AT) (Insolvency) No. 260 of 2020
-8-
Priority Debt Rs. 150 Rs. 150 Rs. 150 Rs. 150
Crores Crores @ Crores ... first
7 years
Charge on Priority Pari- Pari- Pari-
fixed assets charge passu passu passu
for priority over charge charge charge
debt of Rs. fixed
following facts:-
"Credit card dues are in the nature of non-priority sector personal loans
and as such, up to June 30, 2010 banks ... However, banks have been advised vide our circular no. DBOD
No.Dir BC.88/13.03.00/2009-10 dated April 09, 2010 that Base
Application No.
2357 of 2019 in Company Petition No. 1514/I&BC/NCLT/MB/MAH.2017. By
the operative part of the order ... under Section 53 of the I&B Code in order of priority prescribed
therein. The principal contention raised in the writ petition was that
took us through the circulars issued by RBI:-
(a) Circular No.: FSC.BC.120/24.01.011/2000-01 dated May 12, 2001 states that ... line of credit."
(b)
(b) Master Circular No.: BOD.No.FSD.BC.16/24.01011/2010-11 dated July 1, 2010
issued on credit
BC 600=(1999) 6 Supreme Court Cases 755, and Allahabad Bank v. Canard Bank and Anr., IV (2000) SLT 325=IV (2000) BC ... Tribunal and Appellate Tribunal to decide such questions of on priorities subject to only to the principles of natural justice. The Apex Court has held
been advised that Credit Card dues are
in the nature of non-priority sector personal loans and as
such, up to June 30, 2010, banks ... have also been
advised vide the circular no. DBOD. No. Dir. BC. Dir. BC.
93/13.03.00/2006-07 dated May 7, 2007 that
respective parties.
13. The Hon'ble Supreme Court in I (2000) BC 627 (SC)=IV (2000) SLT325 ... necessary for the Tribunal to decide such questions on priority bearing in mind the principles underlying Section 73 of the CPC." Section
disclosure of the information:
(i) RBI issued circular vide DBOD No. BP.BC./C.469(86) dated 14.04.1981 on
credit facility ... artisans,
village and cottage industries of these organization, should be treated as priority
sector advances. In 2007, it was also advised to create a special
Page 3 of 6
(i) RBI issued circular vide DBOD No. BP.BC./C.469(86) dated 14.04.1981 on
credit facility ... artisans,
village and cottage industries of these organization, should be treated as priority
sector advances. In 2007, it was also advised to create a special
