Supreme Court · 2022 INSC 1207 · Decided 16 November 2022
Varimadugu Obi Reddy v. B. Sreenivasulu & ORS.
- Court
- Supreme Court of India
- Citation
- 2022 INSC 1207 · [2022] 16 S.C.R. 1108
- Case number
- CIVIL APPEAL No. 8470/2022
- Decided
- 16 November 2022
- Bench
- AJAY RASTOGI, C.T. RAVIKUMAR (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 226; SARFAESI Act Section 13(2)
Headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: ss. 13(2), 13(4), 14, 17(1), 18 - e-auction sale - Respondent availed three loan facilities after executing necessary security documents - Another Respondent stood an equitable mortgage over her immovable property as security for due repayment of the said loan amount - Respondent borrowers committed default in repaying the outstanding loan amount as also the interest - Loan accounts classified as non-performing assets-NPA - Initiation of recovery
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