Supreme Court · 2000 INSC 496 · Decided 31 October 2000
Himachal Pradesh State Financial Corporation,shimla v. Prem Nath Nanda and ORS.
- Court
- Supreme Court of India
- Citation
- 2000 INSC 496 · [2000] SUPP. 4 S.C.R. 301
- Case number
- CIVIL APPEAL No. 441/1999
- Decided
- 31 October 2000
- Bench
- K.T. THOMAS, R.P. SETHI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
A B State Financial Corporation Act, 1951-Section 29-Default in repayment of loan-Sale of mortgaged property of /oanee by Corporation­ Excess amount realised on sale-Refund of excess amount to loanee delayed C on account of proceedings in Court-Interest on excess amount-Entitlement of-Held, on a loan of Rs. 20.50 lacs to respondents for construction of a hotel. The respondents defaulted in repayment of the loan. The Corporation took possession of the mortgaged hotel under Section D 29 of the State Financial Corporation Act, 1951. Notices for sale of the hotel were advertised in the
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