DEEPAK BHANDARI vs H.P.STATE INDUSL.DEV.CORP.LTD..

The Supreme Court addressed the issue of the starting point of limitation for filing a recovery suit by State Financial Corporations under the State Financial Corporations Act, 1951. The Court clarified that the limitation period begins from the date of the recall notice issued by the Corporation, as per Section 29 of the Act, and not from the date of asset takeover. The judgment reconciles conflicting prior rulings on this matter, establishing a clear legal principle for future cases.