Supreme Court of India
Punjab Financial Corporation v. M/s. Surya Auto Industries
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1 Supreme Court bench has cited this judgment.
From the headnote
State Financial Corporations Act, 1951 - s. 29 - Rights of Financial Corporation in case of default - Default in payment of loan and interest - Notice by Financial c Corporation for possession of Unit of borrower - Subsequently, non-payment of outstanding dues and failure to avail concession offered by Corporation - Financial Corporation taking over collateral security and compounding ~ of penal interest - High Court quashing the same and directing review of all pending cases in which penal interest \ -;. compounded - Sustainability of - Held: Not sustainable -I Financial Corporation being
Where later benches applied it
Of those, 1 referred to
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