Kanaiyalal Lalchand Sachdev & Ors vs State Of Maharashtra & Ors

The Supreme Court upheld the application of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, specifically Section 13(2) and Section 14, in the context of the State Bank of India's actions against the appellants for loan default. The Court confirmed that the bank's issuance of a notice and subsequent possession order were lawful, dismissing the appellants' writ petition challenging these actions. The Court's holding reinforced the enforceability of secured creditors' rights under the Act, leading to the dismissal of the appeals.