Hill Properties Ltd vs Union Bank Of India & Ors

The Supreme Court addressed the issue of the saleability of a flat under attachment in execution proceedings initiated by Union Bank of India under the Securitization Act. The Court held that Respondent No.5, being merely a shareholder with limited rights to occupy the flat, could not mortgage the property without the Company's permission, violating the Articles of Association. The Court upheld the Bombay High Court's dismissal of the appeal, affirming that the flat's rights and interests exclusively belong to the Company, thus maintaining the attachment order.