Supreme Court · 2010 INSC 837 · Decided 30 November 2010
Bharat Steel Tubes Limited v. Ifci Limited
- Court
- Supreme Court of India
- Citation
- 2010 INSC 837 · [2010] 15 S.C.R. 993
- Case number
- SPECIAL LEAVE PETITION (CIVIL) No. 29421/2010
- Decided
- 30 November 2010
- Bench
- ALTAMAS KABIR, CYRIAC JOSEPH (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- SARFAESI Act
Headnote
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - ss. 3 and 13(2) A B - Moneys were borrowed by Petitioner-Company from Bank C which it was unable to repay in full - One-Time Settlement arrived at between Petitioner-Company and Bank payment and defaulted in payment of the rest - It entered into an agreement with ACE, a third-party financier to pay off the entire dues of the Bank, which it did - D ACE assigned its rights to IFCI Ltd - Question regarding auction of the assets of Petitioner Company - Proceedings before the
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)