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Lender Bank Registered With CERSAI Has 1st Priority Over DCST Against Proceeds Of Enforcement Under SARFAESI Act: Bombay High Court

The Bombay High Court has held that lender bank registration with the Central Registry of Securitisation and Security Interest of India (CERSAI) has first priority over Deputy Commissioner of Sales.

Karl tambolyJusticebp colabawallaJustice somasekhar sundaresanPurushottam prabhakar chavanJalgaon jantaKallappanna ichalkaranji janta sahakari bank ltdBombay high courtLender bankCentral registrySecurity interestDeputy commissionerSales taxFinancial assetsSecurity interest actWalkeshwar flatKallappanna ichalkaranji janta sahakari bank

Public sector banks may get legal teeth on issuing lookout circulars

This follows a decision by the Bombay High Court earlier this week that said public sector banks (PSBs) dont have the power to recommend, or ask, the central government for the issuance of LOCs against defaulting borrowers.

New delhiNipun singhalEngineering ltdCentral economic intelligence bureauSupreme courtBombay high courtDelhi high courtBombay highBanking regulations actFugitive economic offendersReserve bankSarfaesi actBankruptcy codeLloyd electricLookout circularPublic sector banks

Business News: PSU Bad bank, ARC reforms are awaited as NPA threat looms

PSU Bad bank, ARC reforms are awaited as NPA threat looms : Rashtra News #PSU #Bad #bank #ARC #reforms #awaited #NPA #threat #looms Even as the wait goes on for the National Asset Reconstruction Company (NARC), or 'bad bank', which was announced in the previous Union Budget and proposed reforms for the private asset reconstruction

Kundan shahiHari hara mishraNational asset reconstruction companyUnion budgetSarfaesi actBad bankBudget 2022

Why banks need to be judicious in their actions when dealing with wilful defaulters

Many laws governing the banking industry have also evolved to accommodate rapid changes that are driving innovation at breakneck speed. However, some attitudes among bankers and regulators have lagged behind, and don t reflect the digital age. One such laggard is the wilful defaulter label. This classification is unique to India among all big economies, and it defies logic in the era of data analytics and AI. A wilful defaulter is a borrower with enough money but isn t repaying banks. The dubious category also includes those that siphoned funds and left businesses high and dry.

Milind patelUnion bankBombay high courtSarfaesi actCentral repositoryLarge creditsBombay highIndian penal codeWilful defaulterFunds recoveryBanking sectorFinancial institutionsIndian bankingInsolvency law

Ifci Venture Capital Funds Limited vs Srgp Corporation Limited on 22 February, 2024

Ifci Venture Capital Funds Limited vs Srgp Corporation Limited on 22 February, 2024
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