Supreme Court · 2010 INSC 428 · Decided 26 July 2010
United Bank of India v. Satyawati Tondon and Others
- Court
- Supreme Court of India
- Citation
- 2010 INSC 428 · [2010] 9 S.C.R. 1
- Case number
- CIVIL APPEAL No. 5990/2010
- Decided
- 26 July 2010
- Bench
- G.S. SINGHVI, A.K. GANGULY (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 136; SARFAESI Act Section 17, 14, 13(4)
Headnote
A B Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - ss.13(2), 13(4) and 14 - Entitlement of bank to recover outstanding dues from C the guarantor without proceeding against the borrower - Appellant-bank issued notices to the guarantor u/s. uls. 14 without first initiating action against the borrower for recovery of the outstanding dues - Held: The action taken by the appellant cannot be faulted on D any legally permissible ground - The High Court completely misdirected itself in assuming that the appellant could not have
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