SARFAESI Act, 2002 and Recovery of Debt & Bankruptcy Act,1993

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All about SARFAESI Act, 2002 & RDB Act, 1993

In Debt Recovery module, we reports case laws on SARFAESI Act, 2002 and Recovery of Debt and Bankruptcy Act,1993 (RDB Act, 1993) providing summary/brief about the judgment alongwith full text of the judgment, Original judgment PDF copy etc. Case laws includes DRAT, High Courts, Supreme Court and other forums judgments.

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Complete guide on SARAFESI Act, 2002 & Recovery of Debt and Bankruptcy Act,1993

As per Section 34 of SARFAESI Act, 2002 there is a clear bar to the filing of a civil suit in respect of any action which the DRT or the Appellate Tribunal is empowered under the SARFAESI Act to determine as also no injunction shall be granted by any court or other authority in respect of any action being taken under the SARFAESI Act or the RDB Act 1993 – Kotak Mahindra Bank Ltd. Vs. The State of Maharashtra – Bombay High Court

September 19, 2023

The only option available to the bank in case of improper invocation of Stand-by Letter of Credit (SBLC) is to proceed against the beneficiary and not against the bank that makes the payment – UCO Bank Vs. Yes Bank Ltd. – DRAT Mumbai

September 11, 2023

Government debt in India is not entitled to precedence over a prior Secured Debt – IndusInd Bank Ltd. Vs. Sales Tax Officer & Ors. – DRAT Mumbai

September 11, 2023

Nawal Kumar Agarwal Vs. State Bank of India – DRAT Kolkata

September 5, 2023

Sree Infotec Vs. Asset Reconstruction Company (India) Ltd. – DRAT Kolkata

September 5, 2023

Sanil Kumar. V Vs. The Authorised Officer, Indian Overseas Bank – Kerala High Court

September 1, 2023

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SARFAESI Act, 2002 and Recovery of Debt and Bankruptcy Act,1993(RDB Act, 1993) Case Laws.

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SARFAESI Act, 2002

SARFAESI Chapter wise Sections, Rules, Notifications Circulars are available here.

SARFAESI Rules

SARFAESI Security (Enforcement) Rules, 2002 and the Central Registry Rules, 2011 amended up-to-date

Recovery of Debts & Bankruptcy Act, 1993

RDB Act, 1993 Chapter wise Sections, Rules, Notifications Circulars are available here.

Recovery of Debts & Bankruptcy Rules

DRT (Procedure) Rules, 1993, DRAT (Procedure) Rules, 1994, Electronic Filing Rules, 2020 and DRT (Refund of Court Fee) Rules, 2013

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Chapter	Topic	Content
CH-2: General & Definitions
		Short Note on Insolvency and Bankruptcy Code, 2016 (IBC, 2016)
		Dispute and Existence of a Dispute
		Operational Debt and Operational Creditor
		Persons who may initiate Corporate Insolvency Resolution Process(CIRP)
		Analysis provisions of Limitation Act, 1963 with respect to Insolvency and Bankruptcy Code, 2016
CH-3: CIRP
	Topic-1 : CIRP Application & Withdrawal
		Analysis of Minimum amount of default under Section 4 of IBC
		Procedure of filing application by Financial Creditor before NCLT under Section 7 of the IBC
		Procedure of filing application by Operational Creditor before NCLT under Section 8 & 9 of the IBC
		Initiation of CIRP by corporate applicant under Section 10 of the IBC
		Analysis of withdrawal of CIRP proceeding pursuant to settlement under Section 12A of Insolvency and Bankruptcy Code, 2016 (IBC)
	Topic-2 : Declaration of moratorium and public announcement
		Declaration of moratorium and public announcement [Section 13, 14 & 15 of the IBC]
		All about the Moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 including judicial pronouncements
	Topic-3 : Appointment and tenure of IRP & RP
		Appointment and tenure of Interim Resolution Professional and Resolution Professional [Section 16, 22 & 27 of the IBC]
		Role of an Interim Resolution Professional and Resolution Professional
	Topic-4 : Management of affairs by IRP
	Topic-5 : Receive and collate all the claims submitted by creditors
	Topic-6 : Committee of creditors and meetings
		Constitution of Committee of Creditors under Section 21 of IBC
		Role of Committee of Creditors & It’s Commercial Wisdom
		Analysis of provisions on Authorised Representative under IBC
		Meetings & Voting of the Committee of Creditors under Section 24 of the IBC
	Topic-7 : RP to conduct the CIRP and manage the operations
		Resolution Professional to conduct the CIRP and manage the operations of the Corporate Debtor
		Insolvency Resolution Process Costs & Essential supplies
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-8 : CIRP and Resolution Plan
		Information Memorandum, Expression of Interest, Request for Resolution Plans & Resolution Plans
		Role of the prospective resolution applicant
		Persons not eligible to be Resolution Applicant [Sec. 29A of IBC]
		Submission and approval of the Resolution Plan
		Liability for prior offences under Section 32A of the IBC
CH-4 : Liquidation Process
	Topic-1 : Initiation of Liquidation
	Topic-2 : Appointment & Remuneration of Liquidator
		Appointment & Remuneration of Liquidator under Sec. 34 of IBC
		Powers and duties of Liquidator under Sec. 35, 37 of IBC
	Topic-3: Liquidation Estate
	Topic-4: Public announcement, Preliminary report, Early dissolution and Progress reports under Liquidation
	Topic-5: Claims under Liquidation
	Topic-6: Preferential, undervalued and Extortionate Credit Transactions
		Preferential, Undervalued and Extortionate Credit Transactions under Sec. 43, 44, 45, 46, 47, 48, 49, 50, 51 of IBC
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-7: Secured Creditor in Liquidation Proceedings
	Topic-8: Realisation of Assets in Liquidation Proceedings
	Topic-9: Proceeds of Liquidation and Distribution of Proceeds
CH-5 : Personal Guarantor
		Chapter VIII Indemnity and Guarantee of Indian Contract Act, 1872
		All about Personal Guarantor under IBC Part-I
		All about Personal Guarantor under IBC Part-II
		Insolvency Resolution Process Regulation
		Bankruptcy Process for PG Regulation
		IRP Application to AA Rules
		Bankruptcy Process Application to AA Rules

SARFAESI Act, 2002 and Recovery of Debt & Bankruptcy Act,1993

SARFAESI Act Case Laws

IBC Laws

All about SARFAESI Act, 2002 & RDB Act, 1993

Complete guide on SARAFESI Act, 2002 & Recovery of Debt and Bankruptcy Act,1993

The only option available to the bank in case of improper invocation of Stand-by Letter of Credit (SBLC) is to proceed against the beneficiary and not against the bank that makes the payment – UCO Bank Vs. Yes Bank Ltd. – DRAT Mumbai

Government debt in India is not entitled to precedence over a prior Secured Debt – IndusInd Bank Ltd. Vs. Sales Tax Officer & Ors. – DRAT Mumbai

Nawal Kumar Agarwal Vs. State Bank of India – DRAT Kolkata

Sree Infotec Vs. Asset Reconstruction Company (India) Ltd. – DRAT Kolkata

Sanil Kumar. V Vs. The Authorised Officer, Indian Overseas Bank – Kerala High Court

Quick links

Case Laws

Case Citation Search

SARFAESI Act, 2002

SARFAESI Rules

Recovery of Debts & Bankruptcy Act, 1993

Recovery of Debts & Bankruptcy Rules

Why Choose Us

Issue specific subject wise case laws

Important judgments

Real time updates

Section wise judgments

Our Review

Testimonial from our client

Veena Light

Nurse

John Brown

Constructor

Linda Smith

Resident