M/S. AMAR ALCOHOLI LTD. vs SICOM LTD.

The Supreme Court examined whether SICOM Limited qualifies as a State Financial Corporation under the State Financial Corporations Act, 1951. The Court held that SICOM, being wholly owned by the Maharashtra government and established for industrial development, is indeed a State Financial Corporation. Consequently, the High Court's dismissal of the appellant's writ petition challenging the auction of mortgaged properties was upheld, affirming the legality of SICOM's actions under the Act.