Powers for Possession of Secured Assets

Ancoraa Resolution01 May, 2023Business

Recently in the matter of Balkrishna Rama Tarle (Dead) Through LRs Vs. Phoenix ARC Pvt Ltd & Others has, Hon?ble Supreme Court, while examining the scope of powers of CMM/DM in taking possession of the secured assets, has reiterated that Section 14 does not involve any adjudicatory process qua the points raised by borrowers against secured creditor taking possession of secured assets and that the CMM/DM is not required to adjudicate disputes between borrower and secured creditor and/or between any third party and the secured creditor.