Supreme Court · 2013 INSC 557 · Decided 22 August 2013
Standard Chartered Bank v. V. Noble Kumar & Others
- Court
- Supreme Court of India
- Citation
- 2013 INSC 557 · [2013] 10 S.C.R. 762
- Case number
- CRIMINAL APPEAL No. 1218/2013
- Decided
- 22 August 2013
- Bench
- H.L. GOKHALE, JASTI CHELAMESWAR (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Criminal
- Acts & sections cited
- CrPC; SARFAESI Act
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: ss. 13( 4) and 14 - Possession of secured assets - Method and manner of - Invocation of s. 14 - Without invoking provisions of s. 13(4) - And without following procedure contemplated u/r. 8 of Rules, D 2002 - Permissibility - Held: It is not mandatory for the secured creditor to obtain possession on its own resorting to provision u/s. 13(4), before approaching the Magistrate uls. 14 - The secured creditor is also not required to follow the procedure laid down u/r. 8 of 2002 Rules
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