Action of secured creditor in forfeiting the deposit made by the auction purchaser is a part of the measures taken by the secured creditor under Section 13(4) of SARFAESI Act – Agarwal Tracom Pvt. Ltd. v. Punjab National Bank – Supreme Court

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Whether when the Debt Recovery Tribunal(DRT) under the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 exercises his power under section 19(18)(e) and appoints a Commissioner for preparation of an inventory of the properties of the defendants, whether prior leave of the Company Judge under the provisions of Companies Act is necessary, since the Company in question is under liquidation and a provisional liquidator has been appointed – State Bank of Hyderabad Vs. Pennar Paterson Ltd. & Anr. – Supreme Court

Case Laws-SARFAESI-Supreme Court, Companies Act-Supreme Court

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Guarantor cannot but be stated to be a strict liability & even if the principal debtor is discharged from his liability unless such discharge is through the act of the creditor without consent of the surety/guarantor, the creditor’s right of action against the surety is preserved-Industrial Finance Corporation Of India Ltd. Vs. Thletdc.An&Naonrosr.E Spinning & Weaving Mills -Supreme Court

Case Laws-SARFAESI-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws

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