Supreme Court · 2018 INSC 241 · Decided 19 March 2018
Itc Limited v. Blue Coast Hotels LTD. & ORS.
- Court
- Supreme Court of India
- Citation
- 2018 INSC 241 · [2018] 5 S.C.R. 516
- Case number
- CIVIL APPEAL No. 2928/2018
- Decided
- 19 March 2018
- Bench
- S.A. BOBDE, L. NAGESWARA RAO (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 226; SARFAESI Act Section 31(i)
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: s.13(4) - Grievance of debtor was that after the creditor issued the notice under s.13(2), the debtor made a representation asking for a reschedulement of the loan which neither considered nor communicated the reasons for non-acceptance thereof - Whether recovery proceedings were in breach of s.13(3A) for failure of the creditor to reply to the representation of the debtor and for want of a reasoned order - Held: s.13(4) envisages that if debt is
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