Supreme Court of India
K. Sreedhar v. M/s Raus Constructions Pvt. Ltd & Ors.
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 impugned judgment and order passed by the High Court is unsustainable and the same deserves to be quashed and set aside.
Judgment, page 16
From the headnote
Securitization and Reconstruction of Financial Asse ts and Enforcement of Security Interest Act, 2002 : s. 31(i) – Prov isions of the Act not to apply to security interest created in ag ricultural land – Respondent No. 1-debtor availed credit facilities f rom the Bank and owing to default in payment, declared NPA – Ban k issued possession notice of the properties and e-auction held – Challenged to – One of the property purchased by the appellant -auction purchaser – DRT confirmed the sale in favour of the appell ant – In writ petition, the High Court set aside the e–aucti on and sale
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