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        Case ID :
        Indian Laws

        SC set aside the impugned order and restored the petition for...

        Order set aside; matter remitted to determine priority under Section 35 SARFAESI and Section 11(2) PF Act

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                SC set aside the impugned order and restored the petition for fresh adjudication, directing impleadment of the first-charge secured creditor as a respondent and permitting full pleadings and hearing. The Court observed admitted realizations from auctioned assets and the appellant's partial payment and undertaking, and instructed the High Court to determine, under Section 35 of the SARFAESI Act and Section 11(2) of the PF Act, the priority of the first-charge secured creditor vis-à-vis the anonymized statutory provident fund and other secured creditors. The matter is remitted for determination of entitlement to balance recovery and priorities among secured creditors after aforestated procedural opportunities.
                                Note: It is a system-generated summary and is for quick reference only.
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