Senior Counsel Column · Unified Chambers
Subodh Bajpai
Advocate · Senior Partner, Unified Chambers and Associates
Practising before the Delhi High Court · National practice across all 39 Debt Recovery Tribunals
Bar Council of Delhi · Enrollment D/3264/2025
“A borrower's rights under SARFAESI begin the moment a Section 13(2) notice arrives — not the day the secured creditor moves to take possession.”
Education
MBA Finance, XLRI Jamshedpur (2023-25)
LLM, LLB · University of Delhi
MA Political Science · Delhi University
Featured in
Forbes India · Entrepreneur Magazine
Moneycontrol · LiveMint · Outlook
Hindustan Times · Fortune India
Practice
Areas of Expertise
Six core practice domains with a national footprint across India's recovery and insolvency tribunals.
SARFAESI Act 2002
SARFAESI Enforcement
Section 13(2) demand notices, 13(4) measures, Section 17 DRT appeals, and challenges to symbolic / physical possession proceedings.
IBC 2016
Insolvency & Bankruptcy
Corporate CIRP under Section 7/9, personal guarantor insolvency under Part III (Sections 94-100), and resolution-plan negotiations before NCLT.
RDDB Act 1993
DRT / DRAT Proceedings
Recovery proceedings before all 39 Debt Recovery Tribunals, DRAT appeals (50% deposit requirement), and writ remedies before the High Courts.
Companies Act 2013 + IBC
NCLT / NCLAT
Corporate matters under Section 230-232 schemes, oppression and mismanagement petitions, and IBC resolution-plan approvals.
FEMA 1999
FEMA & Cross-Border
FEMA opinions for NRI clients on capital-account transactions, repatriation, LRS limits, and DTAA-treaty interactions.
RBI Master Directions
Banking & Recovery
RBI compromise-settlement guidelines, OTS negotiations, NPA classification challenges, and prudential-norm compliance disputes.
The Column
Recent Writing
- 01Indian Succession Act 1925|8h ago|11 min read
Is an Unregistered Will Valid? Why Registration Is Optional but Proof by Attesting Witnesses Is Not
An unregistered will is fully valid in India: Section 63 of the Indian Succession Act 1925 demands due execution and two attesting witnesses, not a registrar's stamp, as a 1993 High Court ruling confirms.
- 02FEMA 1999 Section 6|11h ago|11 min read
Why NRIs Cannot Use the Liberalised Remittance Scheme — and What the USD 250,000 LRS Limit Actually Covers
NRIs are barred from the USD 250,000 LRS window — it is for residents only. Here is what LRS covers, why FEMA excludes non-residents, and the USD 1 million NRO route NRIs use instead.
- 03RBI Master Circular on Wilful Defaulters|13h ago|11 min read
Branded a Wilful Defaulter: The RBI Threshold, the 5-Year Credit Ban, and Your Right to Be Heard
An RBI wilful-defaulter tag bites at Rs 25 lakh and freezes credit for five years. Here is the statutory basis, the two-committee procedure, the defences that work, and what Jah Developers settled.
- 04Companies Act 1956 / Depositories Act 1996|1d ago|11 min read
A Nominee Is Not the Owner: Shakti Yezdani Settles Who Inherits Shares, Mutual Funds and Deposits
The Supreme Court in Shakti Yezdani (2023 INSC 1076) held a nominee under Section 109A Companies Act 1956 holds shares in custody, not ownership; a will supersedes the nomination.
- 05FEMA 1999 Section 6; Remittance of Assets Regulations|1d ago|9 min read
Inherited Property or Legacy in India? The FEMA Route for NRIs to Remit Inherited Assets Overseas
NRIs can remit up to USD 1 million per financial year from inherited Indian assets under RBI rules. Here is the FEMA route, the 12.5% capital-gains tax on sale, DTAA foreign-tax-credit mechanics, and the NRO repatriation paperwork.
- 06IBC 2016 Part III (Sections 94-100)|1d ago|11 min read
Lalit Kumar Jain: How IBC Lets Banks Pursue Personal Guarantors Even After a Resolution Plan
After Lalit Kumar Jain (21 May 2021), approval of a corporate resolution plan does not discharge the personal guarantor. Here is the IBC Part III procedure, the defences that survive, and how banks now pursue guarantors through the NCLT.
- 07Protection of Women from Domestic Violence Act 2005|2d ago|11 min read
When Does a Live-In Relationship Get Domestic Violence Act Protection? The Eight-Factor Test From Indra Sarma
The Supreme Court in Indra Sarma (2013) held not every live-in is a relationship in the nature of marriage under Section 2(f) PWDVA 2005. The eight-factor test explained.
- 08FEMA (Remittance of Assets) Regulations, 2016|2d ago|11 min read
The USD 1 Million Scheme Explained: How NRIs Remit Sale Proceeds and NRO Balances Abroad Under FEMA
NRIs and PIOs may remit up to USD 1 million per financial year from NRO balances and asset sale proceeds under FEMA's Remittance of Assets Regulations 2016. Here is how the cap, TDS and DTAA interact.
- 09SARFAESI Act 2002 / RDDB Act 1993|2d ago|11 min read
Transcore: Why a Bank Can Run a DRT Recovery Suit and SARFAESI Seizure at the Same Time
The Supreme Court's 2006 Transcore ruling lets banks run a DRT recovery suit and SARFAESI seizure together. Here is the statute, the procedure, and the defences that actually work.
- 10Transfer of Property Act 1882|3d ago|11 min read
Why a GPA or 'Power of Attorney Sale' Does Not Make You the Owner: The Suraj Lamp Warning Every Property Buyer Needs
The Supreme Court's Suraj Lamp judgement of 11 October 2011 holds that a GPA, agreement to sell and Will do not transfer property title; only a registered deed under Section 54 conveys ownership.
- 11FEMA (Non-Debt Instruments) Rules, 2019|3d ago|11 min read
Selling Your Indian Flat as an NRI: The Two-Property Repatriation Cap and Permitted Payment Channels
An NRI can repatriate the sale proceeds of only two residential properties. Here is how FEMA, Section 195 TDS at 12.5%, and Forms 15CA/15CB decide what leaves India.
- 12SARFAESI Act, 2002 — Sections 13, 14, 17|3d ago|11 min read
When the Magistrate Hands the Bank Your Keys: Section 14 SARFAESI and Your Section 17 Remedy
A Section 14 SARFAESI possession order is signed by a Magistrate, not a judge. Noble Kumar (2013) confirms it is administrative — and your Section 17 DRT remedy survives.
The Firm
Unified Chambers and Associates
India's debt-recovery focused law firm, operating across all 39 Debt Recovery Tribunals. Unified Chambers represents both lenders and borrowers in SARFAESI proceedings, IBC matters, NCLT cases, and cross-border FEMA opinions.
Engagement
For consultation on a SARFAESI notice, DRT proceeding, IBC matter, or cross-border FEMA question, write to the editorial desk and we will connect you to Unified Chambers.
Request a ConsultationAll articles in the Senior Counsel Column are written by Subodh Bajpai and reviewed by Oquilia's editorial desk against primary regulatory materials. Citations are verified against indiankanoon.org, indiacode.nic.in, and rbi.org.in. Found a factual error? Tell the editor.