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ARTICLE · 24 NOVEMBER 2023

Exercise Of Powers By The Supreme Court Under Article 142 Cannot Ignore Substantive Statutory Provisions

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On October 4, 2023, a 2 (two) judge bench of the Hon'ble Supreme Court of India in the case of Union Bank of India v. Rajat Infrastructure Pvt. Ltd and Sunview Assets Pvt Ltd. held that the powers of the Supreme Court ...

IndiaLitigation, Mediation & Arbitration
Varghese Thomas
Varghese Thomas
Yohaann Limathwalla
Yohaann Limathwalla
Ahsan Allana
Ahsan Allana
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On October 4, 2023, a 2 (two) judge bench of the Hon'ble Supreme Court of India ("Supreme Court") in the case of Union Bank of India v. Rajat Infrastructure Pvt. Ltd and Sunview Assets Pvt Ltd.1 held that the powers of the Supreme Court under Article 142 of the Constitution of India, 1950 ("Constitution"), being inherent in nature, are complementary to those powers which are specifically conferred by statute.

Brief Facts

  1. Zoom Developers Pvt. Ltd. and Zoom Vallabh Steel Ltd. (collectively referred as "Borrowers") had availed credit facilities / loan from Union Bank of India ("Bank"). To secure the credit facilities, Rajat Infrastructure Pvt. Ltd. ("Rajat") had mortgaged a property owned by it in favour of the Bank ("Secured Asset").

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