SARFAESI Act, 2002

The appellants, owners of a 10,000 sq ft plot in Kaithal, sued the respondents for possession after a lease to Burmah Shell (later transferred to Bharat Petroleum) expired in 1998. The lease had a renewal clause exercised once, and the Central Government, under the Burmah Shell (Acquisition of Undertakings) Act, 1976, …

The petitioners, shareholders of La‑Fin Financial Services Pvt. Ltd., challenged a winding‑up petition filed by IL&FS under Section 433(e) of the Companies Act, 1956, which had been transferred to the NCLT as a Section 7 application under the Insolvency and Bankruptcy Code, 2016. The dispute arose from a 2009 share pur…

The appellant, a Manager at the Head Office of HDFC Ltd., was charged in an FIR for allegedly suppressing the fact that a mortgaged property had been acquired by the Tamil Nadu Housing Board and for cheating the purchaser at a public auction conducted in 2012. He filed a petition under Section 482 of the CrPC seeking t…

The appellant, Reliance Asset Reconstruction Company Ltd., was assigned the loan of Hotel Poonja International Pvt. Ltd. (the corporate debtor) after the latter defaulted on a Rs.40 lakh term loan and was declared a non‑performing asset in 1993. A settlement was reached in 2001, a recovery certificate was issued by the…

The appellant society, representing homebuyers, challenged the NCLAT's order admitting Takshashila Heights India Private Ltd (the corporate debtor) into the Corporate Insolvency Resolution Process (CIRP) on a petition filed by Edelweiss Asset Reconstruction Company Ltd (the financial creditor). The society also contest…

The Supreme Court considered a dispute arising out of a corporate insolvency resolution process involving Avani Towers (the corporate debtor), Energy Properties (the ostensible owner of a 10.19‑acre land), and Victory Iron Works (a licensee of a 10,000 sq ft portion). The corporate debtor had financed the purchase of t…

The Supreme Court considered appeals filed by Newtech Promoters and Developers challenging orders of the Uttar Pradesh Real Estate Regulatory Authority that directed refund of home‑buyers' money with interest. The promoters argued that the authority, a single member, lacked jurisdiction, that the Real Estate (Regulatio…

EIH Ltd. entered into a Technical Services Agreement with Balaji Hotels (BHEL) for operating a hotel, and paid Rs 15.21 crore as financial accommodation. BHEL later obtained financial assistance from IFCI and TFCI, which sold the hotel unit to Robust Hotels under SARFAESI proceedings despite an interim injunction that …