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

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