Supreme Court · 2020 INSC 282 · Decided 5 March 2020
Uco Bank v. National Textile Corporation LTD. & ANR.
- Court
- Supreme Court of India
- Citation
- 2020 INSC 282 · [2020] 4 S.C.R. 692
- Case number
- CIVIL APPEAL No. 2046/2020
- Decided
- 5 March 2020
- Bench
- R. BANUMATHI, A.S. BOPANNA, HRISHIKESH ROY (3-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
Headnote
Textile Undertakings (Nationalisation) Act, 1995 - As per appellant-Bank, Shree Sitaram Mills Ltd. was taken over by respondent no.1 & nationalised w.e.f. 01.04.1994 - It enjoyed credit facilities with the appellant - Respondent no.2-Ministry was guarantor credit facilities - Appellant filed recovery suit against respondent no.1 - Transferred to Debts Recovery Tribunal - Recovery certificate issued - However, recovery proceedings were adjourned sine die - Appellant submitted claim with Commissioner of Payment -
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