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Whether the SARFAESI Act, 2002 supersedes the provision of the Companies Act, 1956 – Alchemist Asset Reconstn. Co. Ltd. Vs. Coventry Coil-O-Matric Har. Ltd. & Ors. – Supreme Court Case Laws-SARFAESI-Supreme Court, Companies Act-Supreme Court
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
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
Liability of Guarantor and Principle Debtor/ Borrower is co-extensive and not in alternative – Industrial Investment Bank of India Ltd. Vs. Bishwanath Jhunjhunwala – Supreme Court Case Laws-SARFAESI-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws
A discharge which the principal debtor may secure by operation of law in bankruptcy or in liquidation proceedings in the case of a company does not absolve the surety of his liability-Maharashtra State Electricity Board, Bombay Vs. Official Liquidator, High Court, Ernakulam, Anr. -Supreme Court Case Laws-SARFAESI-Supreme Court, Companies Act-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws
In continuing guarantee the period of limitation will commence to run only from the date of breach – Margaret Lalita Samuel Vs. Indo Commercial Bank Ltd. – Supreme Court Case Laws-SARFAESI-Supreme Court, IBC-Case Laws-Supreme Court, Indian Contract Act-Case Laws
Landmark judgment of the Supreme Court – Mardia Chemicals Ltd. v. Union of India – Supreme COurt Case Laws-SARFAESI-Supreme Court
