Interesting questions on the interplay between The Sick Industrial Companies (Special Provisions) Act, 1985 and The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 have been answered in Madras Petrochem Ltd. v. BIFR, [Civil Appeal Nos. 614-615 of 2016] by Hon’ble Justice R.F. Nariman. My Lord, Is it true that […]Read more "SC Resolves Conflict Between SICA & SARFAESI Act"
“It saddens us to see the manner in which the decision in the case of Harshad Govardhan Sondagar, (2014) 6 SCC 1 has been misinterpreted. Random sentences have been picked up from the Judgment and used, without any attempt to understand the true purport of the Judgment in its entirety. It is a well settled […]Read more "SC Resolves Conflict Between SARFAESI Act & Rent Control Act"
“Section 18(2) of The SARFAESI Act provides that the Appellate Tribunal shall follow the provisions of The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 in disposing of the appeal unless otherwise provided under The SARFAESI Act or the Rules made thereunder. The proviso to Section 20(3) of The RDDBFI Act empowers […]Read more "Condonation of Delay III: Section 18, SARFAESI Act Appeals"
It is always interesting to note References to a Larger Bench, ones especially made on account of ‘difference’ of opinions amongst Equal Bench Strengths. Eventually, it is the flocculation of the Law of the Land; per incuriam decisions stand filtered, retaining still its historical significance. Who is the SC judge known to have rendered the most […]Read more "Referred to Larger Bench II: Suits of Borrower Against Banks"
Sir Salve and Sir Nariman argued on behalf of Sunil Bharti Mittal recently. It is to Mr. Harish Salve’s credit that his ‘neat submission‘ on ‘alter ego’ was accepted. A man is the alter ego of the company. Sir Salve submitted that the “principle of alter ego has always been applied in reverse”. It is not […]Read more "Mr. Harish Salve’s Alter Ego"
Section 26 of The Competition Act, 2002 (“Act”) prescribes the “procedure for inquiry of complaints under Section 19”. If Competition Commission of India (“CCI”), on receipt of information received under Section 19, is of the opinion that there exists a prima facie case, it must direct the Director General (“DG”) to investigate. The DG, on receipt […]Read more "Section 26 of The Competition Act"