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Supreme Court of India

Authorised Officer, Central Bank of India v. Shanmugavelu

Neutral citation
Bench Dr. Dhananjaya Y Chandrachud, J.B. Pardiwala and Manoj Misra JJ.
Decided 2 February 2024

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.

4 Supreme Court benches have cited this judgment.

What the Court ordered

Held as under : (SCC pp. 242-43) 86 [2024] 2 S.C.R. Digital Supreme Court Reports “.

Judgment, page 74

From the headnote

Issue for Consideration (i)Whether, the underlying principle of Section(s) 73 & 74 respectively of the Contract Act, 1872 Act is applicable to forfeiture of earnest- money deposit under Rule 9(5) of the SARFAESI Rules. In other words, whether the forfeiture of the earnest-money deposit under Rule 9(5) of the SARFAESI Rules can be only to the extent of loss or damages incurred by the Bank; (ii) Whether, the forfeiture of the entire amount towards the earnest-money deposit under Rule 9(5) of the Rules amounts to unjust enrichment.

Authorities it was built on

Where later benches applied it

Of those, 1 relied on · 3 mentioned

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