M/S Prestige Lights Ltd vs State Bank Of India

The Supreme Court held that the provisions of Section 13(2) and Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 must be followed by the bank before taking possession of secured assets. The Court emphasized that the borrower must be given an opportunity to present their case and that the bank's actions must be reasonable and just. The appeal was allowed, and the High Court's dismissal of the writ petition was set aside, directing the bank to consider the representation made by the appellant.