Advocate Sushila
DELHI HIGH COURT HOLDS THAT BANK HAS POWER TO INVOKE SARFAESI ACT, IN CASE OF NON-PERFORMING ASSET
Advocate Sushila Ram 24 Dec 2020

DELHI HIGH COURT HOLDS THAT BANK HAS POWER TO INVOKE SARFAESI ACT, IN CASE OF NON-PERFORMING ASSET

The #DelhiHighCourt has in a recent case of Reena Gambhir Vs Central Bank of India and Ors. (W.P.(C) 10276/2020 & W.P.(C) 10325/2020) passed a Judgement dated 22.12.2020 upholding the decision of #Debt Recovery Appellate Tribunal (#DRAT) and stating that the Banks have the power to initiate proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (#SARFAESI Act) and take over possession of the #property if the dues are not duly paid.


To know more, please click on the link below:


http://www.theindianlawyer.in/blog/2020/12/24/delhi-high-court-holds-that-bank-has-power-to-invoke-sarfaesi-act-in-case-of-non-performing-asset/


#npa #bank #loan #debtor #debt #guarantee #guarantor #sarfaesi #delhihighcourt #highcourt

Did you find this write up useful? YES 0 NO 0
×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.
×

SAARTHTo Know More

Launching Soon : SAARTH, your complete client, case, practise & document management SAAS application with direct client chat feature.

If you want to know more give us a Call at :+91 98109 29455 or Mail info@soolegal.com