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Supreme Court of India

Authorised Officer State Bank of India v. C. Natarajan & Anr

Neutral citation
Reported as [2023] 5 S.C.R. 1067
Bench S. Ravindra Bhat and Dipankar Datta JJ.
Decided 10 April 2023

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.

1 Supreme Court bench has cited this judgment.

What the Court ordered

For the reasons aforesaid, the impugned judgment and order of the High Court stands set aside and the civil appeal stands allowed.

Judgment, page 25

From the headnote

Securitization and Reconstruction of Financial Asse ts and Enforcement of Security Interest Act, 2002 : ss. 13(4), 17 – Sec urity Interest (Enforcement) Rules, 2002 – r. 9 – Contract Act – s s. 73, 74 – Power of forfeiture by the Authorized Officer – xercise of – Interference with the forfeiture order by the High Court – Justification of – On facts, default committed by one in di scharging its debts to the Bank and declared as non-performin g asset – - auction held by the Authorized Officer for secured asset of the defaulter– Respondent declared the highest bidder a nd paid the earnest money

Authorities it was built on

Where later benches applied it

Of those, 1 relied on

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