Supreme Court of India · 2019-12-04
THE MAHARASHTRA STATE CO-OPERATIVE BANK LTD. THROUGH ITS DEPUTY MANAGER AKSHAY NAGARNAIK vs BABULAL LADE
- Citation / case number
- SC 2015/43149
- Court
- Supreme Court of India
- Petitioner
- THE MAHARASHTRA STATE CO-OPERATIVE BANK LTD. THROUGH ITS DEPUTY MANAGER AKSHAY NAGARNAIK
- Respondent
- BABULAL LADE
- Author
- HON'BLE MR. JUSTICE MOHAN M. SHANTANAGOUDAR
- Bench
- HON'BLE MR. JUSTICE R. SUBHASH REDDY HON'BLE MR. JUSTICE MOHAN M. SHANTANAGOUDAR
Judgment text excerpt
The Supreme Court addressed the appeal concerning the recovery proceedings initiated by the Maharashtra State Co-operative Bank against Vainganga Sahakari Sakhar Karkhana, which had defaulted on its loan. The court examined the legality of the recovery certificate issued by the High Court and the implications of the SARFAESI Act in the context of cooperative societies. Ultimately, the Supreme Court upheld the High Court's decision, affirming the recovery process initiated by the bank.