Justice Pradeep Nandrajog

Whether Section 243 of the Maharashtra Land Revenue Code, 1966 permits Collector or an Officer under the jurisdiction of the Collector appointed by the Collector as the authorized Officer under Section 14 of the SARFAESI Act, 2002 to take physical possession of a secured asset can demand processing fee/ administrative costs/Setu fee to take possession of the secured asset mortgaged to a Bank or a financial institution which is entitled to take action under SARFAESI Act, 2002 – L & T Housing Finance Limited Vs. The State of Maharashtra & ors – Bombay High Court

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Whether Section 243 of the Maharashtra Land Revenue Code, 1966 permits Collector or an Officer under the jurisdiction of the Collector appointed by the Collector as the authorized Officer under Section 14 of the SARFAESI Act, 2002 to take physical possession of a secured asset can demand processing fee/ administrative costs/Setu fee to take possession of the secured asset mortgaged to a Bank or a financial institution which is entitled to take action under SARFAESI Act, 2002 – L & T Housing Finance Limited Vs. The State of Maharashtra & ors – Bombay High Court Read Post »

The secured asset has to be sold and the buyer purchases the same free from any tax liabilities – The Cosmos Co-operative Bank Ltd. & Anr. Vs. The State of Maharashtra & Ors. – Bombay High Court

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The secured asset has to be sold and the buyer purchases the same free from any tax liabilities – The Cosmos Co-operative Bank Ltd. & Anr. Vs. The State of Maharashtra & Ors. – Bombay High Court Read Post »

A secured creditor would have a first charge over an asset and the charge created in favour of the State of Maharashtra under Section 37 of the Maharashtra Value Added Tax Act, 2002 would be subject to the first charge created by the Central Legislation which in the instant case would be SARFESI Act, 2002 – The Cosmos Co-operative Bank Vs. The State of Maharashtra & Ors. – High Court of Bombay

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A secured creditor would have a first charge over an asset and the charge created in favour of the State of Maharashtra under Section 37 of the Maharashtra Value Added Tax Act, 2002 would be subject to the first charge created by the Central Legislation which in the instant case would be SARFESI Act, 2002 – The Cosmos Co-operative Bank Vs. The State of Maharashtra & Ors. – High Court of Bombay Read Post »

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