Browsing Tag

SARFAESI Act

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In a blow to the original developer, the Bombay High Court has dismissed Sunshine Builders' petition, mandating a ₹125 crore deposit to appeal the DRT's refusal to allow late amendments challenging a 2019 SARFAESI auction. With construction advanced and third-party rights crystallised under Lodha Developers, the court prioritised statutory pre-deposit rules and equities over the builder's claims.

Auction Done, Towers Rising: Court Rejects Builder’s Bid to Bypass ₹125 Crore Deposit

In a blow to the original developer, the Bombay High Court has dismissed Sunshine Builders’ petition, mandating a ₹125 crore deposit to appeal the DRT’s refusal to allow late amendments challenging a 2019 SARFAESI auction. With construction advanced and third-party rights crystallised under Lodha Developers, the court prioritised statutory pre-deposit rules and equities over the builder’s claims.
A high-end apartment in Mumbai's Signature Island, owned by alleged scamster Anubhav Bhatter, is up for e-auction by Standard Chartered Bank to recover over Rs. 135 crore in defaulted loans. Bhatter's firm, BRH Wealth Kreators, was banned for misusing client funds worth hundreds of crores, with ongoing ED investigations revealing deeper fraud.

Luxury Property Belonging to Scam Accused Anubhav Bhatter Up for Auction

A high-end apartment in Mumbai’s Signature Island, owned by alleged scamster Anubhav Bhatter, is up for e-auction by Standard Chartered Bank to recover over Rs. 135 crore in defaulted loans. Bhatter’s firm, BRH Wealth Kreators, was banned for misusing client funds worth hundreds of crores, with ongoing ED investigations revealing deeper fraud.
In a blow to the original developer, the Bombay High Court has dismissed Sunshine Builders' petition, mandating a ₹125 crore deposit to appeal the DRT's refusal to allow late amendments challenging a 2019 SARFAESI auction. With construction advanced and third-party rights crystallised under Lodha Developers, the court prioritised statutory pre-deposit rules and equities over the builder's claims.

Read This Before Investing in Bank Auction Property: This Man Lost The Flat Even After Paying Full Amount

In a blow to auction enthusiasts, a Mumbai company lost its Rs 9.12 crore Nerul flat after the Bombay HC ruled that an IBC moratorium invalidated the post-auction sale certificate—despite full payment. Discover why timing is everything in bank property bids.
In a blow to real estate borrowers, the Bombay High Court has ruled that a single mortgage securing multiple loans counts as separate transactions, forcing Mumbai developer Neepa Real Estates to pay an extra ₹72 lakh in stamp duty and penalties on ₹625 crore worth of loans.

Homebuyers Come Before Banks: MahaRERA Pulls Bank For Ignoring Homebuyers While Lending Money to Builder

In a landmark ruling in the Ashish Sea View case, MahaRERA has declared that homebuyer rights take precedence over banks’ SARFAESI claims. The authority criticised lenders for failing to verify third-party rights and directed them to conduct thorough due diligence before granting project loans. The order significantly strengthens protections for Maharashtra homebuyers.
Bombay High Court dismisses a plea to force Indian Bank into a loan settlement, affirming that borrowers cannot demand OTS. The ruling prioritizes banks’ rights to recover public funds.

Bombay High Court: Borrowers Can’t Force Banks to Settle Defaulted Loans

Bombay High Court dismisses a plea to force Indian Bank into a loan settlement, affirming that borrowers cannot demand OTS. The ruling prioritizes banks’ rights to recover public funds.