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

S. 13(2): Enforcement of security interest – Recovery of Dues – Priority of debtor – The charge of secured creditor would have priority over Government dues under the Income- Tax Act. [ S. 3. 13(4),34(1), 35 , ITACT, S. 226 , Art , 226 ]

Constitution of India .

Art . 141 : Law declared by Supreme Court to be binding on all courts – Covid -19 – Limitation – State and Central Acts – Directions issued for exclusion of period from March 15, 2020 to March 14, 2021 — Remaining period to apply from March 14, 2021- [ Arbitration and Conciliation Act, 1996 S, 23(4) , 29A, Commercial Courts Act, 2015 , S.12A, Negotiable Instruments Act, 1881, S.138 ]

Prohibition of Benami Property Transactions Act, 1988

S.3: Prohibition of benami transactions – Right to recover property held benami – Onus of establishing that a transaction is benami is upon one who asserts it . [ S.4 ]

Prohibition of Benami Property Transactions Act, 1988

S.3: Prohibition of benami transactions – Right to recover property held benami – Onus of establishing that a transaction is benami is upon one who asserts it . [ S.4 ]

Prohibition of Benami Property Transaction Act, 1988

S. 2(9) : Benami transaction – Property held in spouses’s name- Notice issued was stayed . [ S.24 ]

Benami Property Transactions Act, 1988
S. 26 :Adjudication of benami property – Appeal – Show cause notice – Not an order appeal is not maintainable [ S. 26 (1), 46 Art , 226 ]

Prohibition of Benami Property Transactions Act, 1988 –

S. 24: Notice and attachment of property – Provisions of Act providing for confiscation of properties found to be ‘Benami’ could be applied in respect of transactions carried out prior to 1-11-2016, i.e. date on which amended provision of law by virtue of Amendment Act, 2016 came into force.

Prohibition of Benami Property Transactions Act, 1988 –

S. 2(9): Benami transactions – Where son sought to obtain a declaration of being real and/or benami owner of property on ground that he had given money to his father and mother to purchase property which they got registered in their name but actually property belonged to him, however, no particulars of father and mother standing in any fiduciary capacity to son were disclosed, son would not be entitled to obtain a declaration of being real and/or benami owner of property

Constitution of India
Art .32 : Remedies for enforcement of rights conferred by this part – COVID -19 -Waiver of interest – Economic and fiscal regulatory measures are a field where Judges should encroach upon very warily as Judges are not experts in these matters. In assessing the propriety of the decision of the Government the court cannot interfere even if a second view is possible from that of the government. Legality of the policy, and not the wisdom or soundness of the policy, is the subject of judicial review.

The Negotiable Instruments Act , 1881
S.138 :Dishonour of cheque for insufficiency , etc , of funds in the account – Courts are inundated with complaints filed under Section 138 of the Negotiable Instruments Act, 1881. The cases are not being decided within a reasonable period and remain pending for a number of years. This gargantuan pendency of complaints filed under s. 138 of the Act has had an adverse effect in disposal of other criminal cases. Concerned with the large number of cases pending at various levels, a Larger Bench of the Supreme Court has examined the reasons for the delay in disposal of the cases. The Bench has issued important directions which will expedite the hearing and disposal of the cases[ S. 140, 141, 142]

The Limitation Act , 1963

S.18 : Effect of acknowledgement in writing. – The principle of S. 9 of the Limitation Act, namely, that when time begins to run, it cannot be halted, except by a process known to law, has to be strictly adhered to. S. 18 of the Limitation Act, which extends the period of limitation depending upon an acknowledgement of debt made in writing and signed by the corporate debtor, is also applicable to the Insolvency and Bankruptcy Code since S. 238A uses the expression “as far as may be” governing the applicability of the Limitation Act. An entry made in the books of accounts, including the balance sheet, can amount to an acknowledgement of liability within the meaning of Section 18 of the Limitation Act. The notes annexed to or forming part of the balance sheet, or the auditor’s report, must be read along with the balance sheet. [S.9, 14, Companies Act, 2013 , S. 2(40), 92, 128, 129, 134, 137, Insolvency and Bankruptcy Code , S,238A ]