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Supreme Court of India

M/s Transcore v. Union of India and Anr.

Neutral citation
Reported as [2006] SUPP. 9 S.C.R. 785
Bench Arijit Pasayat and S.H. Kapadia JJ.
Decided 29 November 2006

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.

30 Supreme Court benches have cited this judgment.

What the Court ordered

We hold that withdrawal of the O.A. pending before the ORT under the ORT Act is not a pre-condition for taking recourse to NPA Act.

Judgment, page 42

From the headnote

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: Section 13(4)-Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (inserted by amending Act 30 of 2004)-Section 19(1) first proviso-Recovery of bank dues-Recourse to 2002 Act-Withdrawal of original application in terms of the first proviso to section 19(1)-Held: ls not a condition precedent-Bank having elected to seek their remedy in terms of DRT Act can still invoke 2002 Act for realizing secured assets without withdrawing application filed before DRT-lt's the discretion of

Authorities it was built on

Where later benches applied it

Of those, 5 relied on · 1 distinguished · 10 referred to · 14 mentioned

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