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Symbolic vs Physical Possession under SARFAESI
A borrower who finds a possession notice pasted on the door of a mortgaged property, along with a newspaper advertisement stating that the bank has taken possession, has usually no
Limitation Periods for DRT and SARFAESI Actions
The DRT limitation period can decide a debt recovery dispute before the merits of the claim are even examined. A claim may fail if it is filed after the applicable limitation perio
SARFAESI Section 13(2) and 13(4) notice: a borrower’s options
Two stages define the enforcement process under the SARFAESI Act, 2002: the Section 13(2) SARFAESI notice and the measures taken under Section 13(4). They serve different purposes,
Pre-Deposit for a DRAT Appeal Explained
For a borrower who has lost before the Debts Recovery Tribunal (DRT), filing an appeal is not just about preparing grounds and meeting the limitation period. A DRT appeal requires
DRT Original Application (OA): Meaning, Process and How to Defend It
When a bank seeks to recover a debt, it does not file a plaint before the ordinary civil court. Instead, it files an Original Application (OA) before the Debts Recovery Tribunal (D
How to stop a bank auction under SARFAESI
By the time a borrower sees an auction notice for a mortgaged property, the enforcement process is already well advanced. The account has been classified as a non-performing asset,
How to File a Section 17 Application Under the SARFAESI Act Before the DRT
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) changes the traditional approach to debt recovery. A secured
DRT under SARFAESI and RDB Acts: A Critical Examination in the Context of IDFC First Bank Limited v. Union of India and Ors.
The Delhi High Court recently delivered a seminal judgment in the case of *IDFC First Bank Limited v. Union of India and Ors.*, clarifying the jurisdictional bounds of the Debt Rec
Unsecured Creditors Empowered: Rights and Remedies Under the Insolvency & Bankruptcy Code
Introduction Within the complex realm of business transactions, unsecured creditors frequently encounter a dangerous predicament when a debtor declares insolvency. This predicament
Debt Recovery: A Himachal Pradesh High Court Perspective on Jurisdiction
Introduction The Himachal Pradesh High Court recently made a significant ruling regarding the jurisdiction of civil courts in Debt Recovery cases where the action of the secured cr
