Supreme Court · 2015 INSC 72 · Decided 28 January 2015
Keshavlal Khemchandand Sons PVT. LTD. & Others v. Union of India & Others
- Court
- Supreme Court of India
- Citation
- 2015 INSC 72 · [2015] 2 S.C.R. 51
- Case number
- WRIT PETITION (CIVIL) No. 901/2014
- Decided
- 28 January 2015
- Bench
- JASTI CHELAMESWAR, S.A. BOBDE (2-judge bench)
- Case type
- Writ / Constitutional
- Acts & sections cited
- SARFAESI Act
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: A B c s. 2(1 }(o) (as amended by Act 30 of 2004)- Constitutional validity of- Prior to amendment of s.2(1)(o) of the Act, NPA was defined as 'an account of a borrower which has either 'as a sub-standard asset or a doubtful asset or a loss asset' of the creditor and such a D classification is required to be made in accordance with the directions or guidelines relating to assets classification issued by the Reserve Bank - But, under the amended definition, such a
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