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Supreme Court of India

Itc Limited v. Blue Coast Hotels Ltd. & Ors.

Neutral citation
Reported as [2018] 5 S.C.R. 516
Bench S. A. Bobde and L. Nageswara Rao JJ.
Decided 19 March 2018

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.

5 Supreme Court benches have cited this judgment.

What the Court ordered

We are of the view that non-compliance of sub-section (3A) of Section 13 cannot be of any avail to the debtor whose conduct ITC LIMITED v.

Judgment, page 34

From the headnote

Securitisation and Reconstruction of Financial Asse ts and Enforcement of Security Interest Act, 2002: s.13(4) – rievance of debtor was that after the creditor issued the notice unde r s.13(2), the debtor made a representation asking for a resch edulement of the loan which the creditor neither considered nor commu nicated the reasons for non-acceptance thereof – Whether re covery proceedings were in breach of s.13(3A) for failure of the credit or to reply to the representation of the debtor and for want of a rea soned order – Held: s.13(4) envisages that if debt is classified as NPA, the

Authorities it was built on

Where later benches applied it

Of those, 2 relied on · 1 distinguished · 2 referred to

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