Supreme Court of India

M/s. Everest Wools Pvt. Ltd. and Ors. v. U.P. Financial Corporation and Ors.

Neutral citation
Reported as [2007] 13 S.C.R. 857
Bench S.B. Sinha J.
Decided 14 December 2007

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

U.P. State Financial Corporation Act, 1951; Ss.29 and 31/UP. Public Moneys (Recovery of Dues) Act, 1972: c Recovery of loan- company took loan from State Financial Corporation and later ji·om another State Undertaking-Issuance of Notice to company by the Corporation to explain as to why it took loan from the State Undertaking and purchased second hand plant and machinery in breach of contract-In exercise of power u/s. 29of1972 Act, assets of company taken over by the Corporation and the State Undertaking invoking guarantees executed by Managing Director of Company-Challenge to-Dismissed by

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