Supreme Court of India
M/s. Ormi Textiles & Anr. v. State of U.P. & Ors.
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From the headnote
State Financial Corporation Act, 1951: s.29 - Scope of- Held: It has limited scope. s.29 - Mortgaged property and other properties - Right of Corporation to sell - Held : The right to sell the property by Corporation must be exercised only in respect of mortgaged property and not the one which is not the subject matter thereof. Appellant was in possession of 1100 sq. yards of land. The factory was situated on land measuring 800 sq. yards which was mortgaged with the Corporation against loan obtained by appellant. The industrial unit of the appellant became sick and efforts to revive it also
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