Supreme Court · 2017 INSC 976 · Decided 21 September 2017
M. D. Frozen Foods Exports PVT. LTD. & ORS. v. Hero Fincorp LTD.
- Court
- Supreme Court of India
- Citation
- 2017 INSC 976 · [2017] 13 S.C.R. 800
- Case number
- CIVIL APPEAL No. 15147/2017
- Decided
- 21 September 2017
- Bench
- R.F. NARIMAN, SANJAY KISHAN KAUL (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Arbitration Act; SARFAESI Act Section 13(2)
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) - C ss.2(l)(m)(iv),(o),(zd) and 13(2), 31A, 35, 37- Simultaneous proceedings for recovery under the Arbitration and Conciliation Act, 1996 and the SARFAESI Act - borrowed monies from respondent, against security of immovable properties by creating equitable mortgage of seven properties - Account of appellants became a 'Non-Pe1jorming Asset' ('NPA ') - D Agreement between the parties contained an arbitration clause and thus, the lender/respondent
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)