Transfer of Property Act

When Does the Door Close? Understanding The Right of Redemption of Borrowers Under SARFAESI Act

Summary: The SC has laid down the law on the right of redemption under the SARFAESI Act and clarified that (a) once a bank publishes an auction notice under the SARFAESI Act, the borrower permanently loses the right to redeem the mortgage; (b) the amendment to Section 13(8) of the SARFAESI Act in 2016 applies to all the loans declared as non-performing assets after September 1, 2016, regardless of when the loan was availed; and (c) the term “publication” in Section 13(8) refers to a single composite notice that encompasses all modes including service of notice, newspaper publication, affixation, and uploading on the website, rather than merely newspaper advertisements.Continue Reading When Does the Door Close? Understanding The Right of Redemption of Borrowers Under SARFAESI Act

Arbitrability of Disputes: Indian Jurisprudence

[Continued from Part I]

The Vidya Drolia Case: Redefining Arbitrability

In 2019, aiming to solve the conundrum and marking a significant milestone in Indian arbitration, the Supreme Court’s ruling in Vidya Drolia and Ors v. Durga Trading Corporation,[1] (“Vidya Drolia”) laid down the contours of arbitrability. While analysing thearbitrability of Landlord-Tenant disputes governed by the Transfer of Property Act, 1882 (“TPA”), the Supreme Court elucidated that the mere existence of a special statute dealing with certain disputes does not ipso facto render them non-arbitrable, thereby widening the scope of arbitrability and increasing the access to arbitration in complex legal contexts. Continue Reading Arbitrability of Disputes: Indian Jurisprudence (Part 2)