Supreme Court · 2019 INSC 928 · Decided 20 August 2019
M/S Kut Energy PVT. LTD. & ORS. v. The Authorized Officer, Punjab National Bank, Large Corporate Branch, Ludhiana & ORS.
- Court
- Supreme Court of India
- Citation
- 2019 INSC 928 · [2019] 10 S.C.R. 736
- Case number
- CIVIL APPEAL No. 6016/2019
- Decided
- 20 August 2019
- Bench
- UDAY UMESH LALIT, VINEET SARAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- SARFAESI Act Section 13(2), 13(4)
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002: s. 13(2) - Security interest - Enforcement of, in favour of secured creditor would be entitled to proceed only against the 'secured assets' mentioned in the notice u/s. 13(2) - On facts, in loan settlement, debtor deposited Rs.40 crores in terms of the order of the High Court only to show his bona fides when a revised offer was made by them
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