Supreme Court · 2012 INSC 380 · Decided 6 September 2012
M/S. Micro Hotel P. LTD. v. M/S. Hotel Torrento Limited & ORS.
- Court
- Supreme Court of India
- Citation
- 2012 INSC 380 · [2012] 8 S.C.R. 233
- Case number
- CIVIL APPEAL No. 6347/2012
- Decided
- 6 September 2012
- Bench
- K.S. RADHAKRISHNAN, DIPAK MISRA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
State Financial Corporation Act, 1951 - s. 29 - Hotel project financed by State Financial Corporation and State Industrial Promotion and Investment Corporation - Loan c agreement - Default - Demand Notice - Various offers by the Corporations to the borrower for One Time Settlement Scheme to comply with the terms and conditions of the Scheme - Order of Division Bench of High Court giving benefit of One Time Settlement to the borrower D failing which court giving liberty to the Financial Corporation to take action under the Act - Failure on the part of the borrower to comply with
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