SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (SIDBI) vs M/S EMOSONS ORGANICS LTD

The Supreme Court ruled that the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) is applicable in the State of Jammu and Kashmir, affirming its applicability as established in State Bank of India Vs. Santosh Gupta (2017) 2 SCC 538. The Court set aside the High Court's judgment and allowed the appeal, enabling the appellants to proceed under the SARFAESI Act in accordance with the law.