Supreme Court of India
U.P. Financial Corporation and Ors. v. M/s Naini Oxygen and Acetylene Gas Ltd. and Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
1 Supreme Court bench has cited this judgment.
From the headnote
UP. State Financial Corporation Act, 1951: Section 29-Default in repayment of loan ·instalments-Corporation justified in taking over .the industrial establishment-Jn matters commercial the Courts should not risk their judgments for the judgments of the statutory bodies. The appellant - State Financial Corporation was established under the State Financial Corporation Act, 1951. On 10.12.1975 it sanctioned a term loan of Rs. 30 lakhs to the first respondent - Company payable in 17 half-yearly instalments by 22.8.1986. The Memorandum of Agreement executed-between the appellant and respondent
Where later benches applied it
Of those, 1 referred to
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