MAHARAJI EDUCATIONAL TRUST vs SGS CONSTRUCTIONS & DEV.P.LTD..

The Supreme Court upheld the High Court's directive for U.P. Avas Evam Vikas Parishad to demarcate 42.45 acres of mortgaged land and 21 acres of unencumbered land from a total of 63.45 acres, as per the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The Court emphasized that the Trust's default in loan repayment to HUDCO justified the demarcation order, despite ongoing recovery proceedings and disputes regarding the agreement to sell. The appeals were dismissed, affirming the High Court's order.