Supreme Court of India
Bank of Baroda v. M/s Karwa Trading Company & Anr.
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
In view of the above and for the reasons stated above the present appeal succeeds.
Judgment, page 13
From the headnote
Securitisation and Reconstruction of Financial Asse ts and Enforcement of Security Interest Act, 2002 – ss.13( 2), 13(4), 14 and 17 – Security Interest (Enforcement) Rules, 2002 – r.8 r/ w r.9 – Appellant (bank) granted term loan of Rs.100 lakhs and cash credi t limit of Rs.95 lakhs to respondent (borrower) again st security of two mortgaged properties – Borrower failed to repay the loan as per terms & conditions of the agreement – The accou nt of the borrower became NPA on 31.10.2012 – Notice u/s.13(2 ) of SARFAESI Act served upon the borrower on 07.01.2013 demanding sum of
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