while acting or purporting to act in the discharge of his official duty-Official duty implies that the act or omission must have been done ... while acting or purporting to act in the discharge of his official duty-Official duty implies that the act or omission must have been done
Financial Institutions Act, 1993 , [RDBI Act and/or DRT Act ,
hereafter] will not apply to Cooperative Societies, should apply to
the Securitization and Reconstruction ... Act is not in
addition and nor is derogative of RDBI Act. Under the said Act, any
provision of TP Act and Contract Act
held as follows:
?22. If Section 35 of the Securitization Act is read with Section 37 of the
Securitization Act, there cannot be any second ... view than that the
Securitization Act, has the overriding effect over any other law for the
time-being enforced, if anything is inconsistent with
SICA and in the Securitization Act. The Securitization Act is a later Act and in the Securitization Act the overriding clause is contained in Section ... Companies Act, 1956 (1 of 1956), the Securities Contracts (Regulation) Act, 1956 (42" of 1956), the Securities and Exchange Board of India Act
second and third
provisos to Section 18(1) of the Securitization Act are arbitrary,
unreasonable and violative of Article 14 of the Constitution of
India ... second and third provisos to Section 18(1) of the
Securitization Act which made the condition of predeposit
applicable to all appeals including the appeals
Act) and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as Securitization Act). Secondly, whether ... Act clearly obligates upon the bank to withdraw the application under the DRT Act before taking measures under the Securitization Act and this having
mortgaged property is situated.
3. As per Section 17 of the Securitization Act, an appeal has
to be filed in the Debt Recovery Tribunal having ... jurisdiction. This
provision of Section 17(1) of the Securitization Act reads as under:-
WP(C) 8221-09 Page 4 of 15
" Section
implied by necessary implication. Moreover, the very purpose of the Securitization Act is for speedy recovery of dues against defaulting borrowers and hence we should ... fourth of the secured creditors resolved to take action under the Securitization Act and gave their consent for that purpose. In our opinion, once
basis of notice issued under Section 13(2) of the Securitization Act. In the writ petition only notice under Section 13(2) of the Securitization ... petitioner is that no notice under Section 13(4) of the Securitization Act was given by opposite party Nos. 6 and 7. On the other
Debts Due to
Banks & Financial Institutions Act, 1993 (DRT Act ) r/w Section 34 of
the Securitization & Reconstruction of Financial Assets and
Enforcement ... conferred by or under the Securitization Act or under
the DRT Act .
8. Section 13 of the Securitization Act provides for enforcement
