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Supreme Court of India

Phoenix Arc Private Limited v. Vishwa Bharati Vidya Mandir & Ors.

Neutral citation
Reported as [2022] 1 S.C.R. 950
Bench M. R. Shah and B. V. Nagarathna JJ.
Decided 12 January 2022

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

In view of the above and for the reasons stated above, present appeals succeed.

Judgment, page 20

From the headnote

SARFAESI: Default in repayment of outstanding dues – Accounts of borrowers/respondents classified as Non Performing Asset – Bank issued notice u/s. 13(2) – NPA account of the borrowers / respondents with respect to the credit faci lities availed by them assigned by the Bank in favour of appellant – Borrowers failed to repay outstanding dues – Appellant issued letter intimating borrowers that they would proceed to tak e possession of the mortgaged properties after expiry of 15 days from the date of the said letter – Against the said communic ation/letter dated 13.08.2015, the

Authorities it was built on

Where later benches applied it

Of those, 2 referred to · 3 mentioned

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