Supreme Court of India
Shri Shri Swami Samarth Construction & Finance Solution & Anr v. The Board of Directors of Nkgsb Co-op. Bank Ltd. & Ors.
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From the headnote
Issue for Consideration Lending banks/secured creditors, if under an obligation, in terms of the notification dated 29.05.2015 containing the “Framework For Revival And Rehabilitation Of Micro, Small And Medium Enterprises” (Framework), to identify “incipient stress” in the loan account of the MSMEs prior to classifying the loan account as NPA. Headnotes† Micro, Small and Medium Enterprises Development Act, 2006 – Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – Loan account of the petitioner-MSME classified as NPA – Demand notice issued
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