Back
N. V. ANJARIA, T. G. SHIVASHANKARE GOWDA
International Asset Reconstruction Company Limited, Rept. By Its Senior Vice President, Mr. Sidhharth Shah – Appellant
Versus
Jhansirani Vinodkumar, W/o. Late Vinodkumar – Respondent
JUDGMENT :
(N.V. Anjaria, CJ.)
These two appeals arise out of common judgment and order dated 06.02.2024 passed by learned Single Judge in Writ Petition No.26720 of 2023 and Writ Petition No.26996 of 2023. The first mentioned petition is referable to Writ Appeal No.231 of 2024, whereas, the Writ Appeal No.230 of 2024 arises out of Writ Petition No.26996 of 2023.
1.1 Since in both the petitions facts are common and learned Single Judge also dealt with both the petitions together, these two appeals are considered simultaneously to be disposed of by this judgment and order.
1.2 Heard learned Senior Advocate Mr. P.S. Rajagopal with learned Advocate Smt. K. B. Sreedevi and learned Advocate Mr.J.M. Patil for the appellant in both the appeals, learned Senior Advocate Mr.Udaya Holla assisted by learned Advocate Mr.Rakesh B. Bhatt for respondent Nos.1 to 13 in Writ Appeal No.231 of 2024 and learned Senior Advocate Mr.K.N.Phanindra assisted by learned advocate Mr.Srikanth Patil K for respondent Nos.1 to 13 in Writ Appeal No.230 of 2024. Respondent No.14 in both the appeals came to be deleted from the array of respondents, as per the order of the Court.
2. The appeals are preferred by the appel
The enforcement of security interest under the SARFAESI Act is limited to the specific area of land mortgaged as per the assignment deed.
The District Magistrate is not empowered to adjudicate upon the issue of registration of the deed of assignment while passing an order under section 14 of the SARFAESI Act.
An Asset Reconstruction Company cannot enforce rights over properties not included in the original security interest assigned to it under the SARFAESI Act.
The Asset Reconstruction Company is validly substituted as an applicant based on the Assignment Agreement under the SARFAESI Act, 2002, without requiring a Trust Deed.
Sales executed after taking possession under the SARFAESI Act are void, affirming the authority of civil courts in possession disputes involving third parties.
A deemed lender under the SARFAESI Act can invoke rights without reissuing a demand notice if the previous lender had done so, even after settlement.
The court clarified that the jurisdiction of the relevant Authority under Section 14 of the SARFAESI Act is limited to assisting a secured creditor in recovering possession of secured assets from a d....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
