From Sarfaesi Act to arbitration clause, here are the key court orders

The secured creditor can take possession of the assets of the borrower when there is a default after following the procedure laid down in the rules

SC clarifies debtor’s right under Sarfaesi

The Supreme Court last week ruled that a debtor can approach the debts recovery tribunal (DRT)  under the Securitisation Act (Sarfaesi) at the stage of possession notice by the secured creditor. The court was considering a full Bench judgment of the Allahabad High Court in the case, Hindon Forge Ltd vs State.  Earlier, two high court Benches had differed on the question whether a borrower can move the DRT even before physical possession of assets is taken by banks/financial institutions in the exercise of their powers under the Act. Therefore, the question was referred to