Supreme Court of India
M/s. Micro Hotel P. Ltd. v. M/s. Hotel Torrento Limited & Ors.
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.
What the Court ordered
We are of the view that the Division Bench of the High Court had overlooked those vital facts as well as the binding C judgment of a co-ordinate Bench in writ petition No. 13376 of 2008 and had wrongly reopened a lis and issued wrong and illegal directions.
Judgment, page 22
From the headnote
State Financial Corporation Act, 1951 - s. 29 - Hotel project financed by State Financial Corporation and State Industrial Promotion and Investment Corporation - Loan c agreement - Default - Demand Notice - Various offers by the Corporations to the borrower for One Time Settlement Scheme - Borrower failing to comply with the terms and conditions of the Scheme - Order of Division Bench of High Court giving benefit of One Time Settlement to the borrower failing which court giving liberty to the Financial Corporation to take action under the Act - Failure on the part of the borrower to comply
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