Supreme Court · 2008 INSC 1431 · Decided 12 December 2008
Bihar State Financial Corporation v. M/S. Chhotanagpur Minerals and ORS.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 1431 · [2008] 17 S.C.R. 548
- Case number
- CIVIL APPEAL No. 7253/2008
- Decided
- 12 December 2008
- Bench
- S.B. SINHA, CYRIAC JOSEPH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
State Financial Corporations Act, 1951 -- ss.29 and 30 - Power under - Scope of - Held: The power to be exercised c only in respect of the properties which were mortgaged - Selling of the property, not forming part of mortgage, is illegal and without jurisdiction - Financial Corporation for the loss caused by such action. Respondent No.1 took loan from appellant- D Corporation for setting up a factory. Respondent No.1 mortgaged lease hold right over a piece of land of the factory with the Corporation. Factory was set up. Corporation initiated proceedings in terms of ss. 29
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)