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1 - 10 of 36 (0.29 seconds)The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
Article 226 in Constitution of India [Constitution]
Section 13 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
Section 17 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
The Recovery Of Debts Due To Banks And Financial Institutions Act, 1993
Section 2 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
M/S Transcore vs Union Of India & Anr on 29 November, 2006
"(Y) We draw strength for the aforesaid proposition from Section 2(o) of
the SARFAESI Act which vests the secured creditor with the power to
classify an account as an NPA. The authority of the secured creditor in
this regard cannot be questioned. Such authority of the secured creditor
to classify the account of a borrower as an NPA has been recognized
in Mardia Chemicals Ltd. and in Transcore v. Union of India (2008) 1
SCC 125. All that was observed in Mardia Chemicals Ltd. was that there
must exist a specified internal channel which should settle the doubts in
asset classification. The introduction of Section 13(3A) has fulfilled the
said requirement also.
Section 34 in The Competition Act, 2002 [Entire Act]
M/S.Tandra Impex Pvt Ltd. vs Punjab National Bank on 3 March, 2022
In M/s Tandra Impax Pvt Ltd Vs Punjab National Bank12, the
petitioner prayed to declare the action of respondent bank declaring
the petitioner account as NPA without following RBI guidelines and
guidelines issued in Aatmanirbhar Bharat Scheme dated 13.5.2020 as
arbitrary, illegal and against SARFAESI Act, 2002 and to set aside the
classification of account as NPA on 31.3.2020 and the Demand Notice
dated 31.7.2020. The learned Division Bench relied on earlier decision
in W.P.Nos.23643 of 2020 and 20046 of 2021 dated 9.2.2022 to hold
that petitioner ought to avail remedy under Section 17 of the Act,
2002.