Mrs. Janki Vashdeo Bhojwani & Another vs The Indusind Bank Limited & Others

The Supreme Court held that the Appellants, as co-owners of the property at 38, Koregaon Park, Pune, cannot be treated as debtors of the 1st Respondent-Bank under the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Court emphasized that the attachment of the property was improper as the Appellants were not guarantors for the loans and had not mortgaged the property. The appeal was allowed, and the attachment of the property was set aside, reaffirming the rights of co-owners against unilateral actions by creditors.