High Court of Karnataka Allows Appeal by Financial Corporation in Loan Recovery Case — District Court Erred in Dismissing Petition for Non-Prosecution Without Considering Merits. The Court Held That Dismissal for Default Without Adjudication on Merits Is Not Permissible Under Section 31 of the State Financial Corporation Act, 1951.
21 Jan 2015The Karnataka State Financial Corporation (KSFC) advanced a loan to the respondents, who defaulted. KSFC filed a petition under Section 31(1)(a)(aa) o...




