Supreme Court of India · 2023-04-11
MOHD. SHARIQ vs PUNJAB NATIONAL BANK
- Citation / case number
- SC 2019/23088
- Court
- Supreme Court of India
- Petitioner
- MOHD. SHARIQ
- Respondent
- PUNJAB NATIONAL BANK
- Author
- HON'BLE MR. JUSTICE AJAY RASTOGI
- Bench
- HON'BLE MS. JUSTICE BELA M. TRIVEDI HON'BLE MR. JUSTICE AJAY RASTOGI
Judgment text excerpt
The Supreme Court allowed the appeal against the Uttarakhand High Court's decision which upheld the re-auction proceedings initiated by Punjab National Bank. The court found that the High Court erred in reversing the Single Judge's findings and emphasized the need for adherence to the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The appellant was granted the liberty to pursue independent proceedings for recovery of the forfeited amount.