Supreme Court · 2011 INSC 257 · Decided 4 April 2011
MIS. Bharat Steel Tubes LTD. ETC. v. Ifci LTD. & ORS.
- Court
- Supreme Court of India
- Citation
- 2011 INSC 257 · [2011] 4 S.C.R. 205
- Case number
- SPECIAL LEAVE PETITION (CIVIL) No. 9728/2011
- Decided
- 4 April 2011
- Bench
- ALTAMAS KABIR, CYRIAC JOSEPH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 4A(1)(ii), 4A(2), 4A; SARFAESI Act
Headnote
COMPANIES ACT, 1956: ss. 4A(1)(ii) and 4A(2) Proviso (i) - Industrial Financial c Corporation of India Limited (IFCIL) - HELD: Provisions of sub-s.(1) of s.4A stand independent of sub-s.(2) of s.4A and recognize the financial institutions mentioned therein to be public financial institutions which enforced by proviso to sub-s. (2) - Further, IFCIL was covered 0 by Proviso (i) to sub-s. (2) of s.4A since it was constituted under the Companies Act which is a Central Act - High Court rightly held IFCIL entitled to take recourse to provisions of SARFAESI Act to enforce a "security
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)