Supreme Court Dismisses Bank's Appeal in SARFAESI Act Case Due to Procedural Non-Compliance. The court found that the appellant bank failed to adhere to the requirements under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, despite the respondent's loan default and non-payment of a one-time settlement.
22 Jan 2024The dispute arose from a loan transaction in 1996, where the respondent, a sole proprietor of a firearms business, borrowed Rs. 2,00,000 from the appe...
