Nasir Baloor Mehdiabadi vs Appellate Tribunal for Foreign Exchange, New Delhi
Acquisition of foreign currency: Remittances not made through authorised person-Failure to discharge burden to prove acquisition made statutorily, Confiscation order upheld -The appellant had acquired foreign currency by allegedly selling his property in Iran and given a declaration in Currency Declaration Form (CDF) when [LexDoc Id : 437801]
Karnataka Rajya Kaigarika Sahakara Bank Niyamita and Anr. vs V. Krishnaswamy and Anr.
Object and purpose of enactment of SARFAESI Act 2002-Act providing for application of its provisions to such other banks which Central Government might by notification specify, Pith and substance of Act to empower banks to take possession of securities and sell them-The SARFAESI Act 2002 was enacted to plug the loopholes in certain areas in which the banking and financial sector did not have level playing field as [LexDoc Id : 434407]
Arjun Industries Ltd. and Anr. vs Industrial Development Bank of India and Anr.
Assignment of debt: Company agreeing to assignment in earlier proceedings on condition that assignee to be bound by decision of DRT-Petition challenging assignment dismissed in view of consent recorded-The appellants had filed a petition praying that the bank be restrained from assigning the debt owed by the first appellant-company to any third party [LexDoc Id : 420838]