Supreme Court · 2022 INSC 169 · Decided 10 February 2022
Bank of Baroda v. M/S Karwa Trading Company & ANR.
- Court
- Supreme Court of India
- Citation
- 2022 INSC 169 · [2022] 1 S.C.R. 1100
- Case number
- CIVIL APPEAL No. 363/2022
- Decided
- 10 February 2022
- Bench
- M.R. SHAH, SANJIV KHANNA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- SARFAESI Act Section 13(2), 13(4), 17, 13(8), 13, 14, 13(f)
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - ss.13(2), 13(4), 14 and 17 - Security Interest (Enforcement) Rules, 2002 - r.8 r/w r.9 - Appellant (bank) granted term loan of Rs.100 lakhs and lakhs to respondent (borrower) against security of two mortgaged properties - Borrower failed to repay the loan as per terms & conditions of the agreement - The account of the borrower became NPA on 31.10.2012 - Notice u/s.13(2) of SARFAESI Act served upon the borrower on
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