Supreme Court · 2016 INSC 334 · Decided 22 April 2016
Axis Bank v. SBS Organics Private Limited and Another
- Court
- Supreme Court of India
- Citation
- 2016 INSC 334 · [2016] 2 S.C.R. 920
- Case number
- CIVIL APPEAL No. 4379/2016
- Decided
- 22 April 2016
- Bench
- KURIAN JOSEPH, R.F. NARIMAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 171; SARFAESI Act Section 18
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - s.18 - Appeal under - Partial deposit by borrower before the Debt Recovery Appellate Tribunal as a pre-condition for considering the appeal on merits - Borrowers right to get back Partial deposit is not a secured asset - It is not a secured debt either. since the borrower or the aggrieved person has not created any security interest on such pre-deposit in favour of the secured creditor - On disposal of the appeal, either on merits or on withdrawal, or on being rendered
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