MARDIA CHEMICALS LTD. Vs. UNION OF INDIA
SUPREME COURT OF INDIA
Mardia Chemicals Ltd.
UNION OF INDIA
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(1.)W.P.(C)No. 541/2002 Issue notice.
(2.)Mr. S.N. Terdol, learned counsel, accepts notice on behalf of the U.O.I. Mr. Mukul Rohtagi, learned Additional Solicitor General prays for and is allowed two weeks' time to file counter affidavit. Rejoinder affidavit, if any, be filed in another two weeks. So far as respondent No. 2 is concerned, dasti service is also permitted in addition to usual mode of service. Notice shall indicate that the Bank may file counter affidavit within two weeks from the date of the receipt of such notice.
(3.)Issue notice on prayer for interim relief also. Meanwhile, it would be open to the secured creditors to proceed against the borrowers under sub-clauses (2) and (4) of Clause 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Second) Ordinance, 2002. However, they shall not part with the assets of the borrower by way of lease, assignment or sale.
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