Supreme Court · 2023 INSC 12 · Decided 5 January 2023
Kotak Mahindra Bank Limited v. Girnar Corrugators PVT. LTD. & ORS.
- Court
- Supreme Court of India
- Citation
- 2023 INSC 12 · [2023] 1 S.C.R. 873
- Case number
- CIVIL APPEAL No. 6662/2022
- Decided
- 5 January 2023
- Bench
- M.R. SHAH, KRISHNA MURARI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- IBC; SARFAESI Act Section 26E, 14, 17
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) - ss. 13(2), 13(4), 14, 17, 26E - Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) - ss. 15-23, 24 - Whether the MSMED Act would prevail recovery proceedings/recoveries under MSMED Act would prevail over the recoveries made/recovery proceedings under provisions of the SARFAESI Act - Held : Sec 15 to 23 of the MSMED Act provides a special mechanism for adjudication of dispute between buyer and seller - But does not
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