Supreme Court of India
Karnataka State Industrial Investment and Development Corporation Ltd. v. M/s. Cavalet India Ltd. 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.
3 Supreme Court benches have cited this judgment.
From the headnote
State Financial Corporation Act, 1951 : Object and purpose of-Discussed Section 29-Borrower-Default in repayment-Right of Corporation to c sell property of the borrower-Held: If inspite of giving an opportunity to pay debts, the borrower fails, then Corporation can exercise the right to sell its property to third party since the object of the Act is to obtain the best price by maximum public participation-On facts, Borrower was given fair chance to either bring better offer or a one time settlement, but borrower failed to so, hence sale to third party not void, illegal and contrary to Section
Authorities it was built on
Where later benches applied it
- 2018 Municipal Corporation, Ujjain & Anr. v. Bvg India Limited and Ors.
- 2019 K. Sashidhar v. Indian Overseas Bank & Ors.
- 2019 Silppi Constructions Contractors v. Union of India and Anr. Etc. Etc.
Of those, 1 relied on · 1 referred to · 1 mentioned
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