Supreme Court · 2021 INSC 820 · Decided 3 December 2021
Arce Polymers Private Limited v. M/S. Alphine Pharmaceuticals Private Limited and Others
- Court
- Supreme Court of India
- Citation
- 2021 INSC 820 · [2021] 11 S.C.R. 1059
- Case number
- CIVIL APPEAL No. 7372/2021
- Decided
- 3 December 2021
- Bench
- L. NAGESWARA RAO, SANJIV KHANNA, BHUSHAN RAMKRISHNA GAVAI (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- SARFAESI Act Section 13(2), 13(3A)
Headnote
Waiver: Meaning and applicability of - Held: Waiver is an intentional relinquishment of a known right - Waiver applies when a party knows the material facts and is cognizant of the legal rights in that matter, and yet for some consideration legal right, advantage, benefit, claim or privilege - Waiver can be contractual or by express conduct in consideration of some compromise - However, a statutory right may also be waived by implied conduct, like, by wanting to take a chance of a favourable decision - The fact
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