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 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…