required to be borrowed from the Act of 1988 which are not provided under the Taxation Act of 1997.
13. Since definition of 'transport ... deal with entirely separate subjects, it would not be proper to borrow definition while the same is already provided under the Act. In case Legislature
creditor in
accordance with the provisions of this Act.
(2) Where any borrower, who is under a liability to
a secured creditor under a security ... executed in favour of the
debenture trustee."
8. The definition of 'borrower' given in SARFAESI Act under Section-2
(f) is wide
This section while presumably borrowing the definition
of 'lease' as contained in The Transfer of Property Act, 1882 , adds
thereto a provision that
defined under the Hindu Marriage Act . Therefore, we can borrow
the definition under the Civil P.C. In fact, under Section
secured asset/collateral
security submitted by respondent No.2 i.e. the borrower.
2. Petitioner claims to be the guarantor for loan facility availed ... this
writ petition at this stage, keeping in view the definition of 'borrower' under
Section 2 (1) (f) of the SARFAESI Act, which
deducted from the pre-
deposit. It was contended that the definition of a borrower under
section 2(f) of the SARFAESI Act does not make ... Respondent No.3 all fall under the definition
of the borrower under section 2(f) of the SARFAESI Act and
therefore, the amount paid
Corporation by the borrower, it is the
responsibility of the Corporation to return the title
deeds to the borrower/surety/other charge holder ... deed, because subsequent
purchaser does not fall within the definition of 'Borrower'.
Therefore, under the Recovery Manual, there is no
procedure to execute
proceeded against, is devoid of any merit
especially in view of definition of borrower as contained in Section 2(f) of
SARFAESI Act. Moreover
However, the borrower has created the security
interest and since the definition of “borrower” includes the
___________
Page
sansay xHsQ auction before taking action qua the property of the borrower. We find no
2023.08.29 09:17
I attest to the accuracy and
integrity ... merit in this argument keeping in view the definition of borrower as per
Section 2 (1) (f) of the SARFAESI Act, which reads as under
