Supreme Court of India
Jagdish Singh v. Heeralal and 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 view that the High Court was in error in holding that only civil court has jurisdiction to examine B as to whether the "measures" taken by the secured creditor under sub-section (4) of Section 13 of the Securitisation Act were legal or not.
Judgment, page 19
From the headnote
SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002: ss. 2(zc) and 2(zf) - Security interest - Onginal title deeds of properties deposited with bank creating equitable mortgage against loan - Held: Security interest, within the meaning of 0 s.2(zf) has been created in respect of the properties in question which are secured assets within the meaning of s.2(zc), in favour of the secured creditor (the bank) within the meaning of s.2(zd) -- On failure to re-pay, the bank can always enforce its security interest over the secured assets. ss.13(4), 17
Authorities it was built on
- 2004 Mardia Chemicals Ltd. Etc. Etc. v. Union of India and Ors. Etc. Etc.
- 2010 United Bank of India v. Satyawati Tondon and Others
- 2009 Central Bank of India v. State of Kerala and Ors.
- 2009 Authorized Officer, Indian Overseas Bank and Anr. v. M/s. Ashok Saw Mill
- 2009 Nahar Industrial Enterprises Ltd. v. Hong Kong & Shanghai Banking Corporation
- 2006 Indian Bank v. Abs Marine Products Pvt. Ltd.
Where later benches applied it
- 2025 Central Bank of India & Anr. v. Smt. Prabha Jain & Ors.
- 2019 Madhav Prasad Aggarwal & Anr. v. Axis Bank Ltd. & Anr.
Of those, 2 referred to
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