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The recent judgment by the Supreme Court of India on the time-bound redemption rights of borrowers is advantageous for asset reconstruction companies (ARCs) as it protects genuine auction purchasers, reduces uncertainty, and maintains the sanctity of the auction process.
At that time, the board expressed a desire for him to continue, but Parekh made the tough choice to retire, believing it was essential to create opportunities for the next lot.
A senior lawyer had approached the court against coercive recovery proceedings by Subramanyeswara Cooperative Bank under the SARFAESI Act.
The Delhi High Court (HC) has appointed Justice L Nageswara Rao (ex-judge of the Supreme Court) as the sole arbitrator in a Rs150 crore loan dispute involving Essel group of companies, Zee Entertainment Enterprises Ltd and Siti Networks Ltd and Aditya Birla Finance Ltd.
The three associations have teamed up with FINOS to provide a repository for the CDM project, aimed at fostering the growth of an open-source community for the CDM and ensuring neutralityNEW YORK, NY /