Supreme Court of India
Himachal Pradesh State Financial Corporation,shimla v. Prem Nath Nanda and Ors.
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.
From the headnote
State Financial Corporation Act, 1951-Section 29-Default in repayment of loan-Sale of mortgaged property of /oanee by Corporation Excess amount realised on sale-Refund of excess amount to loanee delayed on account of proceedings in Court-Interest on excess amount-Entitlement of-Held, on facts, interest cannot be granted to loanee. Appellant-Corporation granted a loan of Rs. 20.50 lacs to respondents for construction of a hotel. The respondents defaulted in repayment of the loan. The Corporation took possession of the mortgaged hotel under Section 29 of the State Financial Corporation Act,
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