Recovery of Debts and Bankruptcy Act, 1993

The petitioners challenged the constitutionality of sections 34(1), 47(1)(a)(i) and 58(1)(a)(i) of the Consumer Protection Act, 2019, which base the pecuniary jurisdiction of district, state and national consumer commissions on the value of consideration paid rather than the compensation claimed. The challenge arose fr…

The MP High Court Bar Association filed a writ petition under Article 32 challenging the amendment to the Debt Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs) Electronic Filing Rules, 2020, which made e‑filing of pleadings mandatory in all cases from 31 January 2023. The petition argued that the…

The appeal arose from a High Court order dismissing a writ petition that had confirmed the Debts Recovery Appellate Tribunal's (DRAT) order attaching shares of XLO India Ltd (appellant No.1) during the pendency of Appeal No.1/2020 before the Debts Recovery Tribunal (DRT), Jaipur. The DRAT had also directed that recover…

International Asset Reconstruction Company of India Ltd. appealed to the Debt Recovery Tribunal against an order of the Recovery Officer, but the appeal was filed after the 30‑day period prescribed under Section 30(1) of the Recovery of Debts and Bankruptcy Act, 1993. The central issue was whether Section 5 of the Limi…

The borrower defaulted on a loan secured by a mortgage offered by the guarantor, leading State Bank of India to initiate SARFAESI proceedings and eventually auction the secured assets, which were purchased by Tripower Enterprises. The bank sought the return of original title documents deposited with the Debt Recovery T…

Standard Chartered Bank filed a Section 19 application before the Debt Recovery Tribunal (DRT) to recover a debt of about Rs 191 crore from MSTC Limited. After the DRT allowed an intervening application, the respondent appealed, withdrew the appeal, and then filed a review petition under Rule 5A, which was dismissed fo…

The appellant, managing director of Totem Infrastructure Ltd., challenged the admission of a Section 7 Insolvency and Bankruptcy Code (IBC) application filed by State Bank of India (SBI) before the NCLT, arguing that the claim was barred by limitation and the doctrine of election. The banks had earlier obtained three r…

Kotak Mahindra Bank appealed against a Delhi High Court order that allowed guarantors Ambuj Kasliwal and others to file an appeal before the Debt Recovery Appellate Tribunal (DRAT) without making any pre‑deposit of the debt due, as required under Section 21 of the Recovery of Debts and Bankruptcy Act, 1993 (RDBA). The …

The State Bank of India (SBI) had secured credit facilities from Tanya Energy Enterprises, which defaulted and faced recovery proceedings under the SARFAESI Act and the Recovery of Debts and Bankruptcy Act. SBI introduced a One Time Settlement (OTS) 2020 Scheme requiring a 5% up‑front payment for any application, but t…

The Supreme Court examined whether secured creditors could claim priority over assets attached under the Prevention of Money Laundering Act (PMLA) and the Maharashtra Protection of Investors and Depositors Act (MPID Act) by invoking the SARFAESI Act and the Recovery of Debts and Bankruptcy (RDB) Act. It also considered…

The Supreme Court examined appeals arising from SARFAESI Act proceedings where a borrower (Sidha Neelkanth Paper Industries) defaulted on a loan, the secured assets were auctioned, and the auction proceeds exceeded 50% of the claimed debt. The borrower challenged both the steps taken under Section 13(4) and the auction…