H.P. Financial Corp vs Anil Garg & Ors

The Supreme Court held that the High Court erred in setting aside the auction notice under Section 85 of the Himachal Pradesh Public Moneys (Recovery of Dues) Act, 1973, as the withdrawal of the Suit did not bar recovery proceedings under the Act. The Court clarified that the remedy under Section 3(1)(d)(iv) of the Act is independent and does not depend on the withdrawal of the Suit. The Court reinstated the recovery proceedings, emphasizing that the doctrine of election was not applicable in this case.