2017-TIOLCORP-04-NCLT

Precious Energy Services Ltd

Whether an error of judgment, if any, can be addressed in Appellate proceedings but cannot be entertained in a review for substituting a decision consciously made - YES : NCLT

- Application disposed off : NCLT

2017-TIOLCORP-26-HC-MUM-MISC

Mr Babanrao Radoji Kadbhane Vs Asset Reconstruction Company India Ltd

Whether a securitization or reconstruction would be entitled for substitution of its name, in place of the bank in the recovery certificates, based on an assignment deed - YES: HC

Whether there is any time limit prescribed in SARFAESI Act for substitution by a securitization or reconstruction company in respect of a debt which has been taken over -NO : HC

Whether definition of "debt" given in Section 2(g) of RDDB Act would include within it, the Recovery Certificate - YES : HC

- Writ Petition dismissed: BOMBAY HIGH COURT

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