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Dissenting financial creditors are entitled to receive at least the liquidation value of their security interest under the amended Section 30(2)(b)(ii) of the Insolvency and Bankruptcy Code.

#InsolvencyLaw #FinancialCreditors #LegalJudgment #SupremeCourtSupremeCourt

Court Rules on Dissenting Financial Creditors' Rights in Insolvency CasesBackgroundIn a significant ruling, the Supreme Court addressed the rights of dissenting financial creditors under the Insolvency and Bankruptcy Code (IBC). The case involved DBS Bank Limited Singapore, which had extended...

• Court Decision • 03 Jan 2024

Borrower Not Entitled to Adjust Auction Proceeds Against Pre-Deposit Under SARFAESI Act: Supreme Court

#SARFAESIAct #DebtRecovery #LegalJudgment #SupremeCourtSupremeCourt

Supreme Court Ruling on Pre-Deposit Requirements Under SARFAESI ActOverview of the JudgmentIn a significant ruling, the Supreme Court of India addressed the interpretation of Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002...

• Case Law • 05 Jan 2023

The Chief Metropolitan Magistrate (CMM) or District Magistrate (DM) can appoint an advocate as an officer subordinate to them under Section 14(1A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, to assist in taking possession of secured assets.

#SARFAESI #LegalNews #AssetRecovery #SupremeCourtSupremeCourt

Court Rules on Appointment of Advocates in Asset Recovery CasesBackgroundIn a significant ruling, the Supreme Court addressed the contentious issue of whether Chief Metropolitan Magistrates (CMM) or District Magistrates (DM) can appoint advocates to assist in taking possession of secured asse...

• Court Decision • 25 Feb 2022

The High Court erred in entertaining writ petitions against a private Assets Reconstruction Company under Article 226 of the Constitution, as the borrowers had an alternative remedy under the SARFAESI Act.

#SARFAESIAct #DebtRecovery #LegalJudgment #SupremeCourtSupremeCourt

High Court's Interim Orders Overturned in Debt Recovery CaseBackgroundIn a significant ruling, the Supreme Court addressed the appeals filed by Phoenix ARC Private Limited against the interim orders of the Karnataka High Court. The case involved Vishwa Bharati Vidya Mandir and St. Ann's Educa...

• Court Decision • 12 Jan 2022

Supreme Court Remands Case: Proper Assessment of Resolution Professional's Fees Under IBC Required

#IBC #InsolvencyLaw #SupremeCourt #SupremeCourtSupremeCourt

Supreme Court Remands Case Regarding Resolution Professional's Fees Under the Insolvency and Bankruptcy CodeThe Supreme Court of India recently handed down a judgment in an appeal concerning the payment of fees and expenses incurred by a Resolution Professional (RP) during a Corporate Insolve...

• Case Law • 05 Jan 2022

The court ruled that the insurance company cannot repudiate a claim based on a negative balance on the date of loss if it accepted premium for enhancement of the sum insured after the loss occurred, thereby treating the policy as valid.

#InsuranceLaw #MarineInsurance #ConsumerRights #ConsumerState

CourtRulesin Favor of Textile Manufacturer in Marine Insurance Claim DisputeBackgroundIn a significant ruling, the Supreme Court addressed a long-standing dispute between a textile manufacturer and an insurance company regarding a marine cargo insurance claim. The appellant, a manufacturer of...

• Court Decision • 20 Dec 2012

Legal Issues on Supreme Today AI

Can a Conviction Under Section 354 IPC Be Based on the Sole Testimony of the Victim? Maintainability of Writ Petitions Against the Church of South India Under Article 226 Admissibility of Evidence When a Witness Dies Before Cross Examination Under Indian Law Annulment and Divorce Rights When Wife Was Pregnant at Time of Marriage Time Limits and Judicial Discretion for Filing a Rejoinder in Civil and Legal Proceedings Determining Mala Fide Intent and Legal Standards for Quashing Criminal Proceedings Does Stage Carriage Permit Route Deviation Absolve Insurers From Third Party Liability? Victim Protection Against Prosecution Errors and Procedural Lapses in Indian Criminal Courts Enforceability of Verbal Construction Agreements Under the Indian Consumer Protection Act Is a Vehicle Registration Certificate Conclusive Proof of Ownership Under Indian Law? Legal Remedies for Vehicles Damaged or Depreciated While in Police Custody Accessing Uttar Pradesh FIR Certified Copies and Judicial Discretion in Bail Grants Admissibility of Unregistered General Power of Attorney as Evidence in Property Disputes Unlawful Detainer Actions in India for Recovering Possession of Wrongfully Held Property Can a Trespasser Claim Compensation for Property Improvements and Construction?

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