Supreme Court of India
Gajraj Jain v. State of Bihar 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.
1 Supreme Court bench has cited this judgment.
What the Court ordered
We hold that the impugned agreement of sale as well as the transfer of assets G. JAIN v.
Judgment, page 16
From the headnote
State Financial Corporation Act, 1951; Section 29 : Recovery of loan/advance taken by a company from State Financial Corporation and a Bank-Default in repayment-Petition for recovery of dues filed by the Bank-Issuance of notice by the Corporation for sale of assets by auction to realize its dues-Payment of dues lo the Corporation by a Director of the company-Corporation did not return the assets and misappropriated the amount-However, it entered into an agreement of sale of the assets with a financier on payment of its dues and on making promise to pay dues of the Bank-Challenge to-Dismissed
Authorities it was built on
Where later benches applied it
Of those, 1 relied on
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