HILL PROPERTIES LTD. vs UNION BANK OF INDIA .

The Supreme Court addressed the saleability of Flat No.23, which was under attachment in execution proceedings initiated by Union Bank of India under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The Court held that the rights of a shareholder to occupy a flat do not extend to mortgaging it without the company's permission, thus affirming the High Court's dismissal of the appeal by Hill Properties Ltd. The ruling clarified that the flat's ownership and rights are vested in the company, not the individual shareholder.