enactment of NPA Act is, therefore, not in derogation of the DRT Act .
The NPA Act removes the fetters which were in existence ... Act by the enactment of the NPA Act, 2002 .
Analysis of the DRT Act, 1993:
The DRT Act, 1993 has been enacted to provide
NPA Act gives overriding effect to its provisions. Therefore, this Act overrides the provisions of the Transfer of Property Act or any other laws ... reasons for enactment of the NPA Act . It analysed the DRT Act, 1993 and the NPA Act . We shall briefly summarise what the Supreme Court
Securitisation Act . In the context of this question, the Court examined the scheme of the Securitisation Act , and it was observed; -
13. .. The NPA ... Act is inspired by the provisions of the State Financial Corporations Act, 1951 (SFC Act), in particular Sections 29 and 31 thereof. The NPA Act
stage of communication. This is the scheme of the NPA Act . It is so framed to
achieve its object. At first blush this may appear ... Act
excludes the application of Section 13 and 14 thereof to the case on hand.
2. CMM/DM acting under Section 14 of the NPA
action taken by the bank/FI for the purposes of the NPA Act . Section 13(6) inter alia provides that any transfer of secured asset ... point to be noted is that the scheme of the NPA Act does not deal with disputes between the secured creditors and the borrower
Act before proceeding under the
SARFAESI Act . In the Judgment Supreme Court has referred to the
SARFAESI Act as the NPA Act . The Supreme Court ... Section 19(1) of the DRT Act is to
align the provisions of DRT Act, the NPA Act and Order
XXIII CPC . Let us assume
institution shall, before making an
application under Section 14 of the NPA Act, verify and confirm that
notice under Section 13(2) of the NPA ... Act excludes the application of Sections 13 and 14 thereof to the
case on hand.
2. CMM/DM acting under Section 14 of the NPA
NPA Act shall
be in addition to and not inderogation to the DRT Act . If we examine the
relevant provisions of the NPA Act ... with the DRT
Act and the rules made thereunder and section 24 of the DRT Act makes
provisions of the Limitation Act applicable
Bank Of Baroda, Through Its Branch ... vs Gopal Shriram Panda And Another on 25 March
shall mutatis mutandis apply to the NPA Act . The Limitation Act, 1963 will, therefore, apply to the NPA Act also.
27. Mr. Bulchandani submitted that ... NPA Act and in view of Section 24 of the DRT Act, the Limitation Act, 1963 does apply to the NPA Act . Delay in preferring
