Falcon Retreat Pvt. Ltd. & Another vs Edc Ltd. & Ors

The Supreme Court upheld the High Court's dismissal of a writ petition challenging the sale of assets under Section 29 of the State Financial Corporation Act. The Court found that the petitioner had defaulted on payments, leading to the attachment and attempted sale of the property, Falcon Retreat. The Court ruled that since a concluded contract existed between Respondent No.1 and Respondent No.3 for the sale at Rs.12.99 crores, there was no basis for interference under Article 136 of the Constitution of India.