KARNATAKA ST.INDL.INVST&DEV.CORPN.LTD. vs S.K.K. KULKARNI .

The Supreme Court held that the Bangalore court lacked territorial jurisdiction to adjudicate the matter under Section 31(1) of the State Financial Corporations Act, 1951, which mandates that applications for enforcement of claims by a Financial Corporation must be made to the district judge within whose jurisdiction the industrial concern operates. The Court clarified that the enforcement of claims must align with the statutory provisions, emphasizing the importance of jurisdiction in financial disputes. Consequently, the appeal was dismissed, affirming the lower court's ruling on jurisdiction.