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Supreme Court of India

Authorised Officer, Central Bank of India v. Shanmugavelu

Neutral citation
Reported as [2024] 2 S.C.R. 12
Bench Dr Dhananjaya Y Chandrachud, J B Pardiwala and Manoj Misra JJ.
Decided 2 February 2024

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.

2 Supreme Court benches have cited this judgment.

What the Court ordered

Held as under : (SCC pp. 242-43) 86 [2024] 2 S.C.R. Digital Supreme Court Reports “.

Judgment, page 74

From the headnote

Issue for Consideration (i)Whether, the underlying principle of Section(s) 73 & 74 respectively of the Contract Act, 1872 Act is applicable to forfeiture of earnest- money deposit under Rule 9(5) of the SARFAESI Rules. In other words, whether the forfeiture of the earnest-money deposit under Rule 9(5) of the SARFAESI Rules can be only to the extent of loss or damages incurred by the Bank; (ii) Whether, the forfeiture of the entire amount towards the earnest-money deposit under Rule 9(5) of the Rules amounts to unjust enrichment. In other words, whether the quantum of forfeiture under the

Authorities it was built on

Where later benches applied it

Of those, 1 relied on · 1 mentioned

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