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1 - 10 of 15 (0.29 seconds)Section 18 in The Limitation Act, 1963 [Entire Act]
Plus Corporate Ventures Private ... vs Transnational Growth Fund Ltd on 31 October, 2022
36. However, in the present case, Unlike Plus Corporate Ventures (Supra),
where the default date clearly fell within the Section 10A period, there is
dispute in the current case, over whether the default indeed occurred during
this period. The respondent asserts that the default date was August 2, 2019,
which predates the Section 10A moratorium period. This amended default
date, places the present case outside the protective scope of Section 10A. As
such, the ratio of Plus Corporate Ventures to this case does not apply.
Section 84 in The Multi-State Co-Operative Societies Act, 2002 [Entire Act]
Section 3 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
Section 5 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
Section 8 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
Section 9 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
Section 10 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
Dena Bank (Now Bank Of Baroda) vs C. Shivakumar Reddy on 4 August, 2021
43. In determining the validity of the amended date of default, it is crucial
to examine the evidence relied upon by the respondent. It is seen that RBI as
the regulatory authority during the inspection of the bank found that
compliance with the conditions laid down in the sanction letters were not met
and hence the CD was ineligible for restructuring. Accordingly, due to non-
compliance the extent sanction letter dated 17.03.2020 became void ab-initio
and the same was not tenable in the eyes of law. Banks have to mandatorily
comply with the guidelines of the RBI in this regard. Therefore, the date of
Company Appeal (AT) (Ins.) No. 139 of 2024
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NPA became 01.11.2019 and the original date of default would be 02.08.2019
i.e., 90 days prior the date of NPA as per RBI IRAC Guidelines. The amended
date of 02.08.2019 is also supported by records from the National E-
Governance Services Limited (NESL) database, which confirms the occurrence
of a default prior to the COVID-19 moratorium period.