question whether an application under Section 17(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ... Debts Recovery Tribunal, Lucknow (for short 'DRT'), on Securitisation Application No. 435 of 2016 (for short "the Application"), instituted under Section
passed by the District Magistrate, Mirzapur under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 directing ... petitioners in repayment of loan, consequently the Bank initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
wholly misplaced. In the aforesaid case, the various provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter ... referred to as "the Securitisation Act ") including the provisions of Sections 13 and 17, came up for consideration. Under Sub-section
thereof. On the other hand, the purpose of introduction of Securitisation Act is to regulate securitisation and reconstruction of financial assets and enforcement of security ... availability of mechanism to recover the same. By virtue of Securitisation Act , the banks and financial institutions become well equipped to recover the amount
before the DRT Lucknow and after pleadings were exchanged, the Securitisation Application No.19 of 2018 was allowed by the DRT by its order dated ... been submitted on behalf of the petitioners that the Securitisation Application No. 19 of 2018 was allowed by the DRT after recording a specific finding
notice dated 01/8/2012, under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter ... shall be excluded."
The SARFAESI Act, 2002 was enacted to regulate securitisation and reconstruction of financial assets and enforcement of security interest
order dated 27.02.2017, passed by the Debts Recovery Tribunal, Lucknow in Securitisation Application No. 435 of 2016, whereby the interim relief application moved ... dues, the respondent-Bank may proceed afresh strictly under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
order dated 18.9.2017 passed by the Debt Recovery Tribunal, Allahabad whereby the Securitisation Application No.205 of 2016 filed by the petitioners under Section ... Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short 'the SARFAESI Act, 2002 ') has been rejected being
conditions contained in the assignment deed and the provisions of the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (hereinafter ... referred to as the '' Securitisation Act '), the Debts Recovery Tribunal committed no illegality in allowing the application filed by Kotak Mahindra Bank
exercise of powers under Section 14 of the The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (hereinafter referred ... Securitisation Act ") directing Up Zila Magistrate (Sadar) and the Circle Officer to take possession of the secured assets of the petitioners.
The principle argument
