Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 - s. 18(2) - Appellate Tribunal - Power of - |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Disposed Off |
Headnote | Securitisation and Reconstruction of Financial Assetsand Enforcement of Security Interest Act, 2002 - s. 18(2) -Appellate Tribunal - Power of - To condone delay in filingappeal u/s.18(1) of the Act- Held: s. 18(2) provides that theTribunal under the Act has to dispose of an appeal inaccordance with the provisions of Recovery of Debts Due to DBanks and Financial Institutions Act, 1993 - Thus the provisoto s. 20(3) of the 1993 Act is applicable - Unless the schemeof the statute expressly excludes the power of condonation,such power cannot be denied to the Tribunal, when thestatutory scheme so warrants - Principle of legislation by Eincorporation can be applied- Therefore, the Tribunal 10 hasthe power u/s. 18(2) rlw proviso to s. 20(3) of the 1993 Act tocondone the delay in filing appeal uls.18(1) - Recovery ofDebts Due to Banks and Financial Institutions Act, 1993 -s.20(3) proviso - Principle of legislation by incorporation - FDelay - Condonation ofLimitation Act, 1963:S.29(2) -Applicability of- To the proceedings under GSecurities and Reconstruction of Financial Assets andEnforcement of Security Interest Act, 2002- Held: s.29(2)does not have absolute application - the 2002 Act impliedlyexcludes applicability of provisions of Limitation Act to the ·extent a different scheme is adopted - Securitisation andReconstruction of Financial Assets and Enforcement ofSecurity Interest Act, 2002.S. 14 - Applicability of - Held: Principles under s. 14would be applicable to the appeal u/s. 18(1) of SARFAESIB Act, 2002, even though the provisions of s. 5 and 29(2) of theLimitation Act are inapplicable to such. proceedings -Securitisation and Reconstruction of Financial Assets andEnforcement of Security Interest Act, 2002 - s. 18(1 ). |
Judge | Hon'ble Mr. Justice Adarsh Kumar Goel |
Neutral Citation | 2015 INSC 545 |
Petitioner | Baleshwar Dayal Jaiswal |
Respondent | Bank Of India & Ors. |
SCR | [2015] 9 S.C.R. 1 |
Judgement Date | 2015-08-05 |
Case Number | 5924 |
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