Law and Literature

The SARFASESI Act, 2002 has gone through a paradigm of shifts, the one practical lacuna that all litigants face is the 30 days time granted to the borrower for the right to redemption. As per the procedure envisaged in the act, the secured creditor takes possession of the immovable property and proceeds to issue a notice of sale under Rule 8(6) for the sale of the immovable property. The aggrieved borrowers usually take the recourse under section 17 of the Act and one of the most common grounds taken is ‘the illegal measures/ procedures undertaken by the bank in the non compliance of providing a 30 days period from the date of issuance of sale notice as mandated by the Act’. The practice that was usually and widely being followed was that there was multiple issuance of a sale notice under Rule 8(6) of the SARFESI rule. An individual sale notice was first served to the borrower along with affixation in the said immovable property and after thirty-days gap, another sale notice for public...

“Natural justice necessitates full hearing, not a flood of words of forbidding length.” – Justice Krishna Iyer.  As students of law, we often get weary of reading long expositions in judgments addressing minor or pre-determined issues. The true art of judgment writing should be brief and well articulated but the same must not be at the cost of clarity. In India’s current judicial scenario, the pronouncement of lengthy judgments has become a commonplace, and there has been a growing concern with the copy-and-paste trend in the Indian Judiciary that has been critically viewed by many jurists and practitioners worldwide.  The true essence of judgeship resonates when the clarification, elucidation, and explanations of law with the rationality of facts are abbreviated and crisp. The great Justice Iyer in K. Kalpana Saraswathi v. P.S.S. Somasundaram Chettiar  (1980) 1 SCC 630   while considering an appeal that consisted of voluminous Judicial manuscripts and arguments, di...

As per section 101 of the code, When an application under section 94 of the IBC code is admitted by the adjudicating authority under section 100 of the code, the moratorium commences and will cease to exist at the end of 180 days from the date of admission or on the date of the repayment plan is approved by the adjudicating authority under section 114 of the code.  MORATORIUM . Moratorium under section 101(2)(a) envisages that “any pending legal action or proceeding with respect to any debt shall be deemed to have been stayed. (b) the creditors shall not initiate any legal action or legal proceedings in respect of any debt; and (c) the debtor shall not transfer, alienate, encumber or dispose of any of his assets or his legal rights or beneficial interest therein;”  When the Repayment plan is approved by the Adjudicating Authority under section 114 of the code on the basis of the report of the CoC, after successful implementation of the same, an application under section 119 of...

  Optionally Fully Convertible Debentures (OFCDs) are kinds of debt instruments; they are a hybrid instrument, as the investor has the option to convert this debt into equity (shares) of the issuing company after a specified period and at a predetermined price.  DO OFCDs CONSTITUTE DEBT AS PER SARFAESI Act, 2002. In SARFAESI the Meaning of ‘Debt’ as per section 2(1)(ha) of SARFAESI Act, is ‘debt’ shall have the meaning assigned to it in section 2(g) of RDB Act, 1993 and includes: (i) unpaid portion of purchase price of any tangible asset given on hire or financial lease or conditional sale or any other manner (ii) any right, title or interest on any intangible asset or licence or assignment of such intangible asset, which secures the obligation to pay any unpaid portion of the purchase price of such intangible asset or an obligation incurred or credit otherwise extended to enable any borrower to acquire the intangible asset or obtain licence of such asset. and the Meaning of D...

      — Siddhant Karki* In polished Oxfords,  I tread these shabby Kutchery halls alone, A silent vow that clings beneath my bone,  Where sunlight through these wide windows hardly falls,  A tattered curtain to tether, though time has bid it to depart.  I tell myself, I still have my moral oath to honour, “Justice and loyalty are mine to bear.” At Seventy-four, the ordinary tasks get difficult you see, I used to hurry these slopes downhill, Trying to reach before my Mentor,  Back when I was still Forty.  Britain & Brunei taught me well,  To serve as a Gorkha Soldier under Her Majesty,  It may have brought pride to many,  I am proud, please don’t get me wrong,  But I realised my hometown silently awaited me,  So I decided to take a self-imposed retirement, To be back to my hills, to my people, and of course back to my family. Maybe I’ll hang up my boots next year or so,  And decide to write more often,...

" Hyperboles employed in exchanges should not, without anything more, be glorified as an instigation to commit suicide." Section 306 IPC (108 BNS) envisages abetment to suicide and section 107 stipulates Abetment of a Things. The relevant section are reproduced herein: “306. Abetment of suicide  - If any person commits suicide, whoever abets the commission of such suicide, shall be punished with imprisonment of either description for a term which may extend to ten years, and shall also be liable to fine.  107. Abetment of a thing —A person abets the doing of a thing, who— First.— Instigates any person to do that thing; or Secondly.— Engages with one or more other person or persons in any conspiracy for the doing of that thing, if an act or illegal omission takes place in pursuance of that conspiracy, and in order to the doing of that thing; or Thirdly.— Intentionally aids, by any act or illegal omission, the doing of that thing. Explanation 1.— A person who, by wilful misrepr...