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Supreme Court of India

United Bank of India v. Satyawati Tondon and Others

Neutral citation
Reported as [2010] 9 S.C.R. 1
Bench G.S. Singhvi and Asok Kumar Ganguly JJ.
Decided 26 July 2010

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.

27 Supreme Court benches have cited this judgment.

What the Court ordered

We hold that the borrowers would get a reasonably fair deal and opportunity to get the matter adjudicated upon before the Debts Recovery Tribunal.

Judgment, page 18

From the headnote

Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - ss.13(2), 13(4) and 14 - Entitlement of bank to recover outstanding dues from the guarantor without proceeding against the borrower - Appellant-bank issued notices to the guarantor u/s. 13(2) and 13( 4) and filed application uls. 14 without first initiating action against the borrower for recovery of the outstanding dues - Held: The action taken by the appellant cannot be faulted on any legally permissible ground - The High Court completely misdirected itself in assuming that the appellant

Authorities it was built on

Where later benches applied it

Of those, 6 relied on · 14 referred to · 7 mentioned

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