Banking Laws

BANKURU- MAHESH KABRA -BANKING LAWS - COVID 19- RBI AND SUPREME COURT

Banking & Finance – Debts Recovery Matters

Banking & Finance is one of the fast developing sectors in India with evolving digital and media platforms.

COVID -19 has made serious impacts on the economy. Hence to revive growth and mitigate the impacts RBI has announced various Measures including Moratorium and accommodative stances to help Bank and Borrowers.

Hon’ble Supreme Court has also directed Banks & Financial Institutions regarding Waiver of Compound Interest for Moratorium period 01-03-2020 to 31-08-2020.

Hon’ble Supreme Court has also directed Banks & Financial Institutions regarding restructuring of loan accounts considering COVID 19 Pandemic impacts upon Individuals and Industrial MSMEs.

Central Governments – Finance Ministry has also announced Ex-gratia Payments of difference between Compound Interest and Simple Interest.

Increasing uncertainty in operations require supervision and advise of proper legal advise which makes a difference while taking decisions.  

We act as trusted advisers to Banks & Financial institutions, Borrowers and Guarantor’s  for effective resolutions.

Acts Referred –

  • The Securitisation and Reconstruction of Financial Asset and Enforcement of Security Interest Act, 2002 (SARFESI)
  • The Security Interest (Enforcement) Rules,2002
  • The Securitisation and Reconstruction of Financial Asset and Enforcement of Security Interest (Central Registry)(Amendment)Rules, 2020
  • The Recovery of Debts and Bankruptcy Act,1993
  • The Debt Recovery Tribunal (Procedure) Rules, 1993
  • The Debt Recovery Appellate Tribunal (Procedure) Rules, 1994
  • The Debt Recovery Tribunal (Refund of Court Fees) Rules, 2013
  • Insolvency and Bankruptcy Code, 2016
  • The Negotiable Instruments Act,1881
  • The Indian Contract Act,1872
  • The Reserve Bank of India Act, 1934
  • The State Bank of India Act, 1955
  • The Banking Regulation Act, 1949
  • The Registration Act, 1908
  • The Transfer of Property Act,1882
  • The Motor Vehicle Act, 1988
  • The Motor Vehicle (Amendment) Act,2019
  • The Commercial Courts Act, 2015
  • The Companies Act, 2013
  • The Information Technology Act, 2000
  • The Limitation Act, 1963
  • The Sale of Goods Act, 1930
  • The Arbitration and Conciliation Act, 1996
  • The Right to Information Act, 2005
  • The Consumer Protection Act, 2019
  • The Indian Contract Act,1872
  • Civil Procedure Code,1908
  • The Indian Evidence Act,1872
  • Lok Adalat
  • Mediation

Our Services includes –

  • Strategy on restructuring or NPA Recovery for Banks and Lenders
  • Appeal or applications with DRT, DRAT and relevant courts
  • Advising financial creditors, operational creditors, corporate debtors and insolvency professionals on all aspects.
  • Settlements under One Time Settlement Schemes (OTS)
  • Guide to Bank & Borrowers and Guarantors