Published in:
mondaq.com
Pubished on:
3 May 2016
Questions around the interplay between the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002, the Sick Industrial Companies (Special Provisions) Act 1985, the Recovery of Debts Due to Banks and Financial Institutions Act 1993 and the Companies Act 1956 have frequently arisen in various high courts and the Supreme Court.
In a recent decision by the Supreme Court in M/S Madras Petrochem Ltd v BIFR,1 this interplay was exhaustively revisited.