Supreme Court Clarifies Right of Borrower to File Securitization Application
The Supreme Court, on 1st November, 2018, elucidated upon when a borrower can seek remedy against wrongful recourse taken by the creditor against the secured asset (Hindon Forge Pvt. Ltd. vs The State of Uttar Pradesh MANU/SC/1250/2018). The current legal situation can be understood in the following manner – Issue: The issue to be determined by the Supreme Court was whether a securitization application under Section 17(1) of the Securitization […]
