Supreme Court · 2020 INSC 261 · Decided 3 March 2020
K. Virupaksha & ANR. v. The State of Karnataka & ANR.
- Court
- Supreme Court of India
- Citation
- 2020 INSC 261 · [2020] 2 S.C.R. 1020
- Case number
- CRIMINAL APPEAL No. 377/2020
- Decided
- 3 March 2020
- Bench
- R. BANUMATHI, S. ABDUL NAZEER, A.S. BOPANNA (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Criminal
- Acts & sections cited
- IPC Section 511, 109, 34, 120; CrPC Section 200, 482, 156(3); Limitation Act Section 5; SARFAESI Act Section 13, 14, 17
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 - ss.13, 14, 17, 32 - Respondent No.2 was sanctioned credit facilities amounting to Rs.2.68 crores by Bank - Property measuring 3 acres 2 and a charge was created (Secured Asset) - As per the Bank, respondent no.2 did not repay the loan and his account was classified as Non-Performing Asset (NPA) - Ultimately, the Bank took possession of the secured asset - Auction notice issued - Challenged by
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