Supreme Court of India
Punjab and Sind Bank v. Frontline Corporation Ltd
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the considered view that the Division Bench has grossly erred in interfering with the discretion exercised by the Single Judge.
Judgment, page 12
From the headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – s. 34 – Respondent purchased the suit property wherein the appellant-bank was inducted as a tenant by the previous owner in the ground floor of the suit premises – Respondent availed various credit facilities from the appellant-bank to the tune of Rs.42.74 crore by mortgaging, inter alia, the suit property as collateral – Thereafter, a purported settlement agreement, dated 29.11.2010, filed in the ejectment suit which was filed earlier by the previous owner, before the City Civil Court and a…
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