BIHAR STATE FINANCIAL CORPORATION Vs. NAGINA SINGH
SUPREME COURT OF INDIA (FROM: PATNA)
BIHAR STATE FINANCIAL CORPORATION THROUGH ITS MANAGING DIRECTOR
Click here to view full judgement.
(1.)Special leave is granted.
(2.)This appeal is directed against the judgment of the Patna High court allowing the Writ petition C. W. J. C. No-2964 of 1989 filed by the respondents.
(3.)The appellant Corporation advanced a loan to the respondents against a mortgage in respect of the properties which are the subject-matter of the present dispute. In view of the order we are proposing to pass, it is not necessary to give all the facts leading to the present appeal and it will be sufficient to state that according to the case of the appellant-corporation, there was default in payment of the loan which entitled it to take steps under s. 29 of the Bihar State Financial Corporation Act, 1951. Accordingly a notice dated 21/2/1989 was issued under the said S. and a further notice dated 73.1989 was published inviting tenders in respect of the proposed sale of the mortgaged assets. The notices were challenged by the debtor-respondents before the High court by the aforesaid writ petition which was allowed by the impugned judgment.
Copyright © Regent Computronics Pvt.Ltd.