Mardia Chemicals Ltd. And Anr. vs Union Of India (Uoi) And Ors.

The Court addressed challenges concerning the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Ordinance, 2002. It permitted secured creditors to proceed against borrowers under specific sub-clauses of Clause 13, while prohibiting the lease, assignment, or sale of the borrower's assets during the interim period. Certain petitions were dismissed as withdrawn following assurances that petitioners could challenge future proceedings upon the occurrence of a cause of action.