FALCON RETREAT PVT. LTD. vs EDC LTD. .

The Supreme Court upheld the High Court's dismissal of a writ petition challenging the sale of property under Section 29 of the State Financial Corporation Act. The Court found that the petitioner had defaulted on payments, leading to the attachment and auction attempts of the property, which were unsuccessful. The Court held that a concluded contract existed between Respondent No.1 and Respondent No.3 for the sale of the property, and thus, there was no basis to interfere under Article 136 of the Constitution of India.