Supreme Court · 2008 INSC 547 · Decided 29 April 2008
M/S. Ormi Textiles & ANR. v. State of U.P. & ORS.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 547 · [2008] 7 S.C.R. 152
- Case number
- CIVIL APPEAL No. 3054/2008
- Decided
- 29 April 2008
- Bench
- S.B. SINHA, LOKESHWAR SINGH PANTA (2-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 12; Transfer of Property Act
Headnote
State Financial Corporation Act, 1951: s.29 - Scope of- Held: It has limited scope. s.29 - Mortgaged property and other properties - Right of Corporation to sell - Held : The right to sell the property by Corporation must be exercised only in respect of mortgaged property and not the one which is thereof. D Appellant was in possession of 1100 sq. yards of land. The factory was situated on land measuring 800 sq. yards which was mortgaged with the Corporation against loan obtained by appellant. The industrial unit of the appellant became sick and efforts to revive it also failed. E A notice
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