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90‑Day Irregularity under RBI IRACP Norms Established: Delhi HC Upholds Canara Bank’s NPA Classification as Lawful [Read Order]

The Delhi High Court has upheld Canara Bank’s decision to classify the loan account of respondents as a Non‑Performing Asset (NPA), holding that the...

Auction Purchaser Cannot Claim Reclassification of NPA if it affects Financial Creditor's Rights:...

Bank Proceeded with Auction of property under SARFAESI Act, 2002 and Failure to Follow Court's...

CA, MBA Openings in Kotak

DRT Order Setting aside NPA Classification Does not Negate Existence of Financial Debt: NCLT [Read...

CA, MBA Vacancy in Aditya Birla Group

The Aditya Birla Group invited applications for the post Team Member - Credit (Emerging & Growth Clients Group). Qualifications Chartered Accountant, MBA Boost Your Business with SME...

CA - Chartered Accountant - CA job vacancy - MBA vacancy - JOBSCAN - TAXSCAN

CIRP against Co-Borrower, Shares Equal Responsibility under Loan Agreement: NCLAT

The Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) observed that initiation of Corporate Insolvency Resolution Process ( CIRP ) against a co-borrower is allowed under the...

NCLAT Delhi - NCLAT - CIRP Against Co-Borrower - CIRP - Loan Agreement - Loan - National Company Law Appellate Tribunal - Corporate Insolvency Resolution Process - taxscan

Departments of State including Excise and Revenue do not have Priority over Secured Creditors Debt: HP HC [Read Order]

In a significant ruling the Himachal Pradesh High Court observed that the departments of the State including Excise and Revenue do not have priority over secured creditors debt. The question in...

Relief to SBI, Disallowing Registration of Sale Certificate and Mutation Dehors Provision of SARFAESI Act: Himachal Pradesh HC [Read Order]

As a relief to the State Bank of India (SBI), the Himachal Pradesh High Court has held that disallowing registration of sale certificates and mutation dehors provision of the Securitisation and...

Relief - SBI-Disallowing Registration - Sale Certificate - Mutation - Provision - SARFAESI Act-Himachal Pradesh HC-TAXSCAN

Revision u/s 263 without any Tangible Material is not Valid: Gujarat HC sets aside Proceedings against Axis Bank [Read Order]

The Gujarat High Court has held that the revision under section 263 of the Income Tax Act, 1961 without any tangible material is not valid and set aside the proceedings against Axis Bank. The...

Rs. 512 Crore Loan Fraud: CBI Arrests Director of Private Company

The Central Bureau of Investigation (CBI) has arrested a Managing Director & Promoter of a private company based at New Delhi in an on-going investigation of a case related to bank fraud of...

Provisions of Book Profit not applicable to Banking Companies: ITAT [Read Order]

The Bangalore bench of the Tribunal, while dismissing an appeal filed by the income tax department against Vyshya Bank held that the provisions of book profit under section 115 JB of the Income Tax...