BIHAR STATE FINANCIAL CORPN. vs M/S. CHHOTANAGPUR MINERALS .

The Supreme Court addressed the legality of actions taken under Sections 29 and 30 of the State Financial Corporations Act, 1951, regarding the sale of mortgaged properties. It was held that the appellant Corporation acted within its rights but failed to adequately inform the plaintiff about the sale of the factory, which constituted a breach of duty. The Court ruled that the plaintiff was entitled to damages for the wrongful loss caused by the appellant's actions, leading to a decree in favor of the plaintiff.