https://www.taxtmi.com/caselaws?id=755231 A cash credit account may be classified as a non-performing asset where the sanctioned limit has expired or remains unrenewed and the account is out of order under RBI directions, including continued default and insufficient credits to cover interest debits. The prior recall notice did not preclude NPA classification, and the later circular applied on the date of classification. Once that classification was sustained, the Section 13(2) notice and consequential SARFAESI measures under Section 13(4) were treated as statutory steps not ordinarily liable to writ interference, especially where an effective remedy was available before the Debts Recovery Tribunal under Section 17. en-us Mon, 11 Mar 2024 00:00:00 +0530 Wed, 10 Jul 2024 07:58:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755231 A cash credit account may be classified as a non-performing asset where the sanctioned limit has expired or remains unrenewed and the account is out of order under RBI directions, including continued default and insufficient credits to cover interest debits. The prior recall notice did not preclude NPA classification, and the later circular applied on the date of classification. Once that classification was sustained, the Section 13(2) notice and consequential SARFAESI measures under Section 13(4) were treated as statutory steps not ordinarily liable to writ interference, especially where an effective remedy was available before the Debts Recovery Tribunal under Section 17. Case-Laws Indian Laws Mon, 11 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755231