Govt. notifies Reduction in Loan limit for Debt Recovery for NBFCs from Rs.50 Lakhs to 20 Lakhs [Read Notification]
The government notified the reduction in loan limit for debt recovery for NBFCs from Rs.50 Lakhs to 20 Lakhs. The Government sought to amend the...
![DRAT can’t entertain Appeals under SARFAESI Act without making mandated Pre-deposit of 50% of Loan Amount: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2019/10/Service-Tax-Supreme-Court-Taxscan.jpg "DRAT can’t entertain Appeals under SARFAESI Act without making mandated Pre-deposit of 50% of Loan Amount: SC [Read Judgment]")
![No Bar of Appointment of Advocates as Receivers under SARFAESI Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/02/SARFAESI-Act-Delhi-High-Court-Taxscan.jpg "No Bar of Appointment of Advocates as Receivers under SARFAESI Act: Delhi HC [Read Order]")
Insolvency and Bankruptcy Code Improves Resolution Process: Registering a 4-Fold Decline in Resolution Time
The Economic Survey 2019-20 highlights that The Insolvency and Bankruptcy Code (IBC) has improved the resolution process in India compared to the earlier measures. The IBC proceedings take 340 days on...
Borrower or Third Party need not be Informed While Adjudicating Application preferred by the Secured Creditor under SARFAESI Act: Rajasthan HC [Read Judgment]
While hearing the case of Anil Kumar Sotwal, Rajasthan High Court recently held that there is no need to give notice to the borrower or third party while adjudicating the application preferred by the...
Sale under SARFAESI Act is invalid when the Tax dept has First Charge on the Property: Rajasthan HC [Read Judgment]
In GMG Engineers & Contractor Pvt. Ltd v. State of Rajasthan & ors, the Rajsthan High Court held that the sale made under the provisions of the Securitisation and Reconstruction of Financial...
Sales Tax cannot be levied on the purchaser of the property, who has no prior knowledge of the dues of the defaulter: Bombay HC [Read Judgment]
Recently, the division bench of the Bombay High Court, in a recent ruling, held that a bonafide purchaser who purchased the property of the defaulter cannot be liable to Sales Tax dues of the latter...
Delhi HC invalidates the order of Income Tax dept to attach the property against which SARFAESI proceedings are completed [Read Judgment]
The division bench of the Delhi High Court has recently nullified an attachment order issued by the Income Tax Department for the recovery of income tax dues by finding that against the same property,...
