ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED vs S.P. VELAYUTHAM

The Supreme Court addressed the appeals by Asset Reconstruction Company (India) Limited against the High Court's reversal of a Single Judge's ruling that declared a sale deed null and void. The court examined the validity of the mortgage created by the borrower as collateral for loans sanctioned by Indian Bank. Ultimately, the Supreme Court upheld the Single Judge's decision, affirming the nullity of the sale deed based on the lack of proper mortgage documentation and the implications of the Securitisation Act.