Madras High Court Allows TIIC's Recovery Petition Under SFC Act for Outstanding Loan of Over Rs. 1842 Crores. Court holds that the State Financial Corporation Act, 1951 is a complete code for recovery of dues and that the limitation period under Article 137 of the Limitation Act, 1963 applies to applications under Section 31 of the SFC Act, but the petition is within limitation as the cause of action is continuing.
22 Jan 2025The Tamil Nadu Industrial Investment Corporation Limited (TIIC) filed an Original Petition under Section 31 and 31(1)(i)(aa) of the State Financial Co...





