H.P. FINANCIAL CORP. vs ANIL GARG .

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 prejudice other recovery modes. The Court reinstated the recovery proceedings initiated by the Appellant, emphasizing that the claim was not time-barred due to prior actions taken by the Appellant.