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Articles By narendra sharma

Only Civil Court Can Grant Relief Of Declaration That Personal Guarantees Stand Discharged   By: narendra sharma
1. In Mrs. Sunayana Malhotra & Ors. vs ICICI Bank [IA No.5814/2009 in CS(OS)No.527/2009; [2010 (1) DRTC 353 (Delhi); Decided on 6 October, 2009] hon'ble Delhi High Court was considering an application of the defendant under Order 7 Rule 11 of the CPC for rejection of the plaint for the reason of the relief claimed in the suit being barred by Section 18 of the Recovery of Debts Due to Banks & Financial Institutions Act, 1993 (‘DRT Act') r/w Section 34 of the Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘Securitization Act'). The plaintiffs had instituted the suit for declaration and permanent injunction.(read entire article)
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Category : Legal

Guarantors Fail To Claim Their Rights Under Contract Act Although Courts Have Recognised These Rig   By: narendra sharma
Introduction Recently, after going through my Articles on certain website {namely (1) Director's Personal Guarantee-A Void Agreement and (2) Personal Guarantee-A Void Agreement}, one visitor informed me that, on the contrary, commenting on his case regarding enforcement of his personal guarantee by the Bank, a well known Supreme Court Advocate has expressed that “as you have signed a personal guarantee, there is no hope of success”. In this background, I thought it fit to quote some cases where the Court has accepted the Guarantor's rights under Contract Act, although in some cases the Guarantor has failed to claim his rights.(read entire article)
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Category : Legal

Recovery Proceedings By Drt Against The Guarantors Are Without Jurisdiction   By: narendra sharma
Recovery Proceedings by DRT against the Guarantors Are Without Jurisdiction(read entire article)
View : 1224 Times
Category : Legal

Under Securitisation Act, If The Secured Creditor Is Acting In Violation Of The Rights, Duties And O   By: narendra sharma
Under Securitisation Act, if the secured creditor is acting in violation of the rights, duties and obligations, the mortgagor can come to the Civil Court before sale with a civil suit for injunction for staying the sale(read entire article)
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Category : Legal

State Has First Charge Over Secured Assets Despite Overriding Provision In Drt Act And Securitisatio   By: narendra sharma
(A) In the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter called “the DRT Act”) the overriding provision is Section 34 in Chapter VI of the DRT Act, which provides as under :(read entire article)
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Category : Legal

Npa Consultant|drt Consultant Advocates|director's Personal Guarantee   By: narendra sharma
Execution Of Award Against Directors By Lifting Corporate Veil - Sample Application-Cum-Written Arguments 1. That the Decree Holder has filed Execution Petition No. …..and has prayed for the execution of the Award dated(read entire article)
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Category : Legal

Beg To Differ - The Judgement Of Allahabad High Court In Vipul Agrawal Vs. Atul Kanodia & Co   By: narendra sharma
Beg To Differ - The Judgement Of Allahabad High Court In Vipul Agrawal Vs. Atul Kanodia & Co. 1. In a recent judgement a Division Bench of Allahabad High Court in Vipul Agrawal Vs. Atul Kanodia & Co. (2003) 9 CLA-BL Suppl. (Snr.) 22 (All) ; AIR 2003 (All) 280; 2003 Arb. WLJ 765 (All) held (in para 34) that the legislative intent underlying the provisions of the Arbitration and Conciliation Act(read entire article)
View : 535 Times
Category : Legal

Beg To Differ - The Judgement Of Bombay High Court In Haresh Chinnubhai Shah Vs. Rajesh Prabhakar Jh   By: narendra sharma
Beg To Differ - The Judgement Of Bombay High Court In Haresh Chinnubhai Shah Vs. Rajesh Prabhakar Jhaveri And Anr. In a recent judgement the Bombay High Court in Haresh Chinnubhai Shah Vs. Rajesh Prabhakar Jhaveri and Anr.(read entire article)
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Category : Legal

Arbitration Clause In General Insurance Policies – A Legal Gimmick To Avoid Liability   By: narendra sharma
If parties to a contract have agreed to something unreasonable, they should be treated as if they have not agreed at all and be released.(read entire article)
View : 1001 Times
Category : Debt

Arbitral Award Need Not Be Written On Stamp Paper By The Arbitrator   By: narendra sharma
This has reference to the observations of hon'ble Single Judge bench of Delhi HC in Eider PW1 Paging Limited and Eider PW1 Communications Ltd. Vs. Union of India and Ors. {2010 (115) DRJ 263- Delhi HC}, which has been referred to a larger bench of Delhi HC.(read entire article)
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Category : General