Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 ( SARAESI ,Act )

S. 13: Enforcement of security interest – Unregistered lease agreement- Monthly tenant – Mortgage – Tenant cannot object to eviction without establishing that Tenancy was created before Mortgage- Alternative remedy – Writ is not maintainale – Appeal is allowed . [ S.13(2) , 13(4),14,17(4A), 18 , 35, Transfer of Properrty Act, 1882, S. 65A, Art. 132, 226 , 227 ]

Companies Act , 2013 .

S. 2(62): One person company – The separate legal personality and limited liability shield of an One Person Company (OPC) under Indian corporate law- The separate legal personality and limited liability shield of an OPC under Indian corporate law- Set aside the direction of the Arbitration Tribunal against Mr Savan Prasad . [ S. 3(1) , Arbitration and Conciliation Act , 1996, S. 17, 37(2)(b) ]

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

S. 13 : Liability of guarantor is joint and several with principal debtor – Bank is entitled to proceed under SARFAESI Act for properties mortgaged by guarantor. [ S. 13(4), 17 ]

The Power of Attorney Act , 1882

S. 2: Execution of power- of- attorney -General power of attorney – Transfer – Power of attorney and agreement to sell were not registered- In absence of registration under section 17(1)(b) of Registration Act, it would not be open for holder of power of attorney (POA ) to content that she had a valid right, title and interest in immovable property to execute registered sale deed in favour of appellant- Sale deed executed by General Power of attorney (POA) holder after death of original owner was invalid. [ S. 1A , Indian Contract Act , 1872, 201, 202 , Indian Income -tax Act , 1961 , 2(47) , Indian Registration Act ,1908, 17(1))(b) , 49, , Limitation Act , 1963 , Article . 58 , 65, Transfer of Property Act , 1882 , S.40,53A, 54, 55 , Specific Relief Act ,1877, ]

Maharashtra Stamps Act, 1958

S. 48 :Application for relief under section 47 – Period for application for relief – Refund Of Stamp Duty – Amended limitation period – Deed of cancellation- Deed of rectification- Accrued right to claim refund arose the moment the cancellation deed is validly executed- Entitled to the benefit of unamended provision of S.48(1)- No Power with Chief Controlling Revenue Authority, Maharashtra State, Pune (CCRA) to recall its own order- Directed to refund the amount with interest @ 6 percent from the date of first order. [S. 47 ,50, Limitation Act, 1963 ,S.30, Registration Act, 1908 , S. 47 ]

Prevention of Money Laundering Act, 2002 .
S. 2 (1)(u): “Proceeds of crime” means any property derived or obtained directly by property derived or obtained directly or indirectly ,by any person as a result of criminal activity relating to a schedule offence or value of any such property – Offence of money laundering – Punishment for money -laundering – Allowing the Criminal Revision application the Court awarded exemplary cost Rs 1 lakh each on complainant and Enforcement Director ( ED) for invoking criminal action and harassing the Developer with criminal action – Breach of agreement – Purchaser and Developer –Law Enforcement Agencies like ED should conduct them selves within parameters of law and that they cannot take law in to their own hands without application of mind and harass citizens. [S. 3, 4, Indian Penal Code 1860 , S 120B, 406 , 418 , 420 ]

Advocate Act,1961

S. 24:Persons who may be admitted as advocates on a State roll- Duties of advocate – Production of evidence – Party cannot be penalised for fault pf counsel – One more opportunity is granted to produce evidence – One more opportunity was granted to plaintiff to adduce evidence subject to payment of costs of Rs .5000 .-
Every lawyer is expected to keep in mind the fact that he is also an officer of the Court and judicial system is based upon co operation of lawyers – It is also expected from the concerned lawyers of parties to positively remain present before Court on the date given by the trail court . However , if the lawyer is not in a position to remain present , he shall make alternative arrangement for proceedings of the case in order to avoid inordinate delay . [Civil Procedure Code , 1908 , O.18 R. 24 ]

Prohibition of Benami Property Transactions Act, 1988 , as amended by Benami Transactions (Prohibition) Amendment Act, 2016

S. 5 : Property held benami liable to confiscation – Provisions of section 5 of Prohibition of Benami Property Transactions Act, 1988 as amended by Benami Transactions (Prohibition) Amendment Act, 2016 have to be applied prospectively and not retrospectively . [ Art. 226 [

Chartered Accountants Act, 1949.

S. 21A :Board of Discipline – Professional misconduct – Power of Central Government to make rules – Matter referred to Disciplinary Committee – Reference is held to be valid – Apppeal is dismissed . [S. 21A(4),29A(1) Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Rules, 2007 , Rule 9(3)(b) ]

Prohibition of Benami Property Transactions Act, 1988,

S. 24: Benami Property — Provisional Attachment of property — No provision warranting authorities to provide opportunity of Cross-Examination of witnesses whose statements have been relied upon — Orders continuing provisional attachment of property till order of adjudicating authority is not erroneous.[ 24(2) 24(3) 24(4)(a)(i) , 26(3) , ITAct , S.132 , Art . 226 ]