Supreme Court · 2024 INSC 80 · Decided 2 February 2024
Authorised Officer, Central Bank of India v. Shanmugavelu
- Court
- Supreme Court of India
- Citation
- 2024 INSC 80 · [2024] 2 S.C.R. 12
- Case number
- CIVIL APPEAL No. 235/2024
- Decided
- 2 February 2024
- Bench
- D.Y. CHANDRACHUD, J.B. PARDIWALA, MANOJ MISRA (3-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 73, 74; SARFAESI Act
Headnote
(i)Whether, the underlying principle of Section(s) 73 & 74 respectively of the Contract Act, 1872 Act is applicable to forfeiture of earnest- money deposit under Rule 9(5) of the SARFAESI Rules. In other words, whether earnest-money deposit under Rule 9(5) of the SARFAESI Rules can be only to the extent of loss or damages incurred by the Bank; (ii) Whether, the forfeiture of the entire amount towards the earnest-money deposit under Rule 9(5) of the Rules amounts to unjust enrichment. In other words, whether the
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