Supreme Court of India
Standard Chartered Bank v. V. Noble Kumar & Others
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.
2 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the opinion that the High Court clearly erred in recording such a conclusion.
Judgment, page 24
From the headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: ss. 13( 4) and 14 - Possession of secured assets - Method and manner of - Invocation of s. 14 - Without invoking provisions of s. 13(4) - And without following procedure contemplated u/r. 8 of Security Interest (Enforcement) Rules, 2002 - Permissibility - Held: It is not mandatory for the secured creditor to obtain possession on its own resorting to provision u/s. 13(4), before approaching the Magistrate uls. 14 - The secured creditor is also not required to follow the procedure laid down
Authorities it was built on
Where later benches applied it
- 2019 The Authorised Officer, Indian Bank v. D. Visalakshi and Anr.
- 2018 M/s Hindon Forge Pvt. Ltd. & Anr. v. The State of Uttar Pradesh through District Magistrate Ghaziabad & Anr.
Of those, 1 distinguished · 1 referred to
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