M/S Kut Energy Pvt.Ltd vs The Authorized Officer Punjab National ...

The Supreme Court upheld the applicability of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act), specifically Sections 13(2) and 13(4), in the context of a loan default by the appellants. The Court emphasized that the bank's actions, including the issuance of demand and possession notices, were in accordance with the statutory provisions. The Court ultimately dismissed the appeals, affirming the High Court's order regarding the bank's right to proceed with the sale of the secured assets.