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SUPREME COURT OF INDIA
MOHAN M. SHANTANAGOUDAR, J
The Maharashtra State Co-operative Bank Ltd. – Appellant
Versus
Babulal Lade & Ors. – Respondent
| Table of Content |
|---|
| 1. summary of the case's factual background. (Para 2) |
| 2. arguments on applicability of recovery provisions. (Para 4 , 5 , 6) |
| 3. discussion on priority of claims under various laws. (Para 8 , 9 , 10) |
| 4. summary of final decisions and directions. (Para 14 , 15) |
J U D G M E N T
MOHAN M. SHANTANAGOUDAR, J.
1. This appeal arises out of judgment dated 01.12.2015 passed by the Nagpur Bench of the High Court of Bombay in W.P. No. 3879/2012. Vide the impugned judgment, the Hon’ble High Court has directed the issuance of a recovery certificate against the Appellant herein, thereby modifying the order dated 08.08.2011 passed by the Bhandara Bench, Industrial Court, Maharashtra.
2. The brief facts giving rise to this appeal are as follows:
Signature2 Not .Ve1rifie d Registered under the Maharashtra Co-operative Societies Digitaly signed by GULSHAN KUMAR ARORA Date: 2019.12.04 Reason: Act, 1960 (hereinafter ‘Societies Act’), Respondent No. 6 herein, Vainganga Sahakari Sakhar Karkhana Ltd. (hereinafter ‘Karkhana’) had obtained credit facilities from the Appellant-Bank and mortgaged its properties in return. When it defaulted on the repayment of the loan, the Appellant-Bank initiated reco
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