Supreme Court · 2007 INSC 510 · Decided 2 May 2007
M/S. Shilpa Shares and Securities and Ors v. The National Co-Operative Bank LTD. and Ors
- Court
- Supreme Court of India
- Citation
- 2007 INSC 510 · [2007] 5 S.C.R. 1128
- Case number
- CIVIL APPEAL No. 6760/2004
- Decided
- 2 May 2007
- Bench
- S.B. SINHA, MARKANDEY KATJU (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Maharashtra Co-operative Societies Act, 1960/Maharashtra Co­ operative Societies Rules, 1961; Rule 107: C Loan-Default in payment by borrower-Recovery by Auction sale of the property of borrower-85% of the purchase money not paid by the purchaser-Effect of-Held: Sale was not valid-Under the auction sold after proper advertising and complying with the procedure under R.107 of the Rules- D Sale of Goods Act, 1930---Sale. Appellant had borrowed a loan from respondent No.I, a co-operative bank. Since the appellant was in default in payment of the loan, recovery proceedings were
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)