https://www.taxtmi.com/caselaws?id=274794 Jurisdiction under the Recovery of Debts Due to Banks and Financial Institutions Act is confined to claims by banks and financial institutions, so a civil suit by a non-bank claimant was not barred. Collateral security in the form of pledged shares did not, by itself, defeat maintainability of a summary suit under Order XXXVII CPC for recovery on written contracts and guarantees. The guarantee deeds were not shown to be insufficiently stamped, and the objection was also belated. Section 14 of the Insolvency and Bankruptcy Code moratorium applies only to the corporate debtor and does not automatically extend to guarantors, who may seek protection only through insolvency proceedings against them. The defendants' objections failed, subject to a conditional leave to defend. en-us Tue, 28 Nov 2017 00:00:00 +0530 Tue, 04 Sep 2018 07:19:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274794 Jurisdiction under the Recovery of Debts Due to Banks and Financial Institutions Act is confined to claims by banks and financial institutions, so a civil suit by a non-bank claimant was not barred. Collateral security in the form of pledged shares did not, by itself, defeat maintainability of a summary suit under Order XXXVII CPC for recovery on written contracts and guarantees. The guarantee deeds were not shown to be insufficiently stamped, and the objection was also belated. Section 14 of the Insolvency and Bankruptcy Code moratorium applies only to the corporate debtor and does not automatically extend to guarantors, who may seek protection only through insolvency proceedings against them. The defendants' objections failed, subject to a conditional leave to defend. Case-Laws Indian Laws Tue, 28 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274794