Thursday, April 23, 2026
Latest:
ArbitrationDecember 2023LatestLegal

Sections 9 and 11 of the Arbitration Act & SARFAESI Act – Arbitrator OR DR Tribunal – Petitioner is non-banking financial institution giving loans for purchase of vehicles.

legaldeli

The petitioner is notified as financial institution under SARFAESI Act vide notification dated 27.8.2018.

The petitioner had advanced loan facilities to the respondents in both the matters for vehicles on Loan-cum-Hypothecation-cum-Guarantee Agreements.  Each of the Agreements provided for Arbitration and also reference to the RDDB & SARFAESI Acts are also made.

The respondents committed defaults.  The petitioner filed section 11 application and also section 9 application apprehending that the vehicles may even be disposed by the respondents.

The objection of jurisdiction was raised by the respondents on the ground that the petitioner being a financial institution, applications ought to have been filed in Debts Recovery Tribunal and their applications under the Arbitration Act are not maintainable.

Section 37 of SARFAESI Act provides that the application of other laws is not barred but the said Act in addition to any other law being in force.  Thus, the Arbitration Act and SARFAESI Act operate in tandem.

Order dated 20.12.2023 in Commercial Arbitration Petition (L) Nos.8654  and 25821 of 2022 – Tata Motors Finance Solutions Limited Vs. Naushad Khan and connected matter of Parveen Travels Ltd and another.

You May Also Like

Post on Social Media – merely “liking” another person’s post will not amount “to publishing or transmitting the post” and is not a crime covered by Section 67 of the Information Technology Act, 2008.

legaldeli

Whether a borrower of a project is “consumer” under Consumer Protection Act, 1986

legaldeli

Foreign Award – Enforcement against a person not party to proceedings

legaldeli

Leave a Reply

Your email address will not be published. Required fields are marked *

I HAVE READ THE DISCLAIMER AND AGREE TO IT.

User Acknowledgement

By proceeding further and clicking on the "AGREE" button herein below, I acknowledge that I of my own accord wish to know more about LegalDeli for my own information and use. I further acknowledge that there has been no solicitation, invitation or inducement of any sort whatsoever from LegalDeli or any of its members to create an Attorney-Client relationship through this knowledge site. I further acknowledge having read and understood the Disclaimer below.

Disclaimer
About: This knowledge-site (www.LegalDeli.in) is owned and operated by LegalDeli (“NDA”), and is a resource for your informational and educational purposes only.

No Warranty: NDA does not warrant that any content or information contained on this knowledge-site is accurate, correct, complete or up-to-date, and hereby disclaims any and all liability to any person for any actual or threatened loss or damage caused by errors or omissions, whether such errors or omissions result from negligence, accident or otherwise. NDA assumes no liability for the interpretation and/or use of the content and/or information contained on this knowledge-site, nor does it offer any warranty of any kind, either expressed or implied in relation to such content or information.

Third-Party Links: NDA does not intend that links / URLs contained on this knowledge-site re-directing users to third party websites be considered as referrals to, endorsements of, or affiliations with any such third party website operators. NDA is not responsible for, and makes no representations or warranties, express or implied, about the content or information contained on such third party websites to which links may be provided on this knowledge-site.

No Legal Advice: By clicking ‘I agree’ and proceeding further, you acknowledge, represent and undertake that you on your own accord wish to know more about NDA, its capabilities and research content and information contained on the knowledge-site, for your own knowledge and personal use. The content and information contained on this knowledge-site should not be construed as nor relied upon as legal advice. You as a reader or recipient of content or information contained in this knowledge-site should not act, nor refrain from acting, based upon any or all of such content or information, but should always seek the advice of competent legal counsel licensed to practice the relevant law in the appropriate jurisdiction.

No Attorney-Client Relationship: This knowledge-site is not intended to be and you should not consider the content or information contained therein to be an advertisement, solicitation, inducement or invitation for an Attorney-Client relationship. Transmission, receipt or use of this knowledge-site, including content and information contained therein, does not constitute nor create an Attorney-Client relationship between NDA and you.

I Agree