Landmark case · Law of Banking and Negotiable Instruments · Semester 5

Mardia Chemicals Ltd. v. Union of India

(2004) 4 SCC 311 · Supreme Court of India

SARFAESI was largely upheld; the condition of depositing 75 per cent before the DRT could entertain an appeal was struck down as onerous.

From topic

Enforcement of security interest — Unit V, Law of Banking and Negotiable Instruments.

Related sections:

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, 13 — Enforcement of security interest
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, 14 — Chief Metropolitan Magistrate or District Magistrate to assist taking possession
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, 17 — Application against measures to recover secured debt
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, 18 — Appeal to the Appellate Tribunal