Tag Archives: recovery

Limitation Act not applicable to Insolvency Code: NCLAT

The National Company Law Appellate Tribunal recently ruled that the Limitation Act, 1963 is not applicable to the Insolvency & Bankruptcy Code, 2016 (“I&B Code”) as the latter is not a code for recovery of money claim, rather it relates … Continue reading

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SEBI can’t arrest without following due procedure: BHC

Expounding upon the powers of arrest and detention of a recovery officer of Securities & Exchange Board of India (SEBI), the High Court of Bombay ruled that a tax recovery  officer cannot arrest or detain a person without reasons to … Continue reading

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NPA definition constitutional: SC

In an important decision, the Supreme Court of India upheld the constitutional validity of amended definition of “non-performing assets” under The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“Act”) stating that the function of … Continue reading

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Employer can seek recovery if its not arbitrary: SC

The Supreme Court of India ruled that an employer can seek recovery of monetary benefits wrongly extended to innocent employees only if the recovery is not iniquitous or arbitrary. “Orders passed by the employer seeking recovery of monetary benefits wrongly … Continue reading

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Appeal under SARFAESI Act can only be filed before DRT within whose jurisdiction the property is situated: DHC

A Full Bench of Delhi High Court recently ruled that the an appeal/application made under Section 17 of The Secularization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 can only be filed before the Debt Recovery … Continue reading

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