https://www.taxtmi.com/caselaws?id=108403 A state financial corporation may invoke section 29 of the Karnataka State Financial Corporations Act, 1951, even after proceedings under section 31 have been initiated, because section 31 is a supplementary remedy and does not bar recovery under section 29. The borrower's objection on that ground therefore failed. Where the borrower remained in default despite repeated opportunities, and no illegality or unfairness in the auction or sale of secured assets was shown, equitable interference under article 226 of the Constitution was unwarranted. The challenge to the corporation's measures accordingly failed and the sale was not interfered with. en-us Mon, 03 Feb 2003 00:00:00 +0530 Sat, 31 Mar 2012 13:29:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108403 A state financial corporation may invoke section 29 of the Karnataka State Financial Corporations Act, 1951, even after proceedings under section 31 have been initiated, because section 31 is a supplementary remedy and does not bar recovery under section 29. The borrower's objection on that ground therefore failed. Where the borrower remained in default despite repeated opportunities, and no illegality or unfairness in the auction or sale of secured assets was shown, equitable interference under article 226 of the Constitution was unwarranted. The challenge to the corporation's measures accordingly failed and the sale was not interfered with. Case-Laws Companies Law Mon, 03 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108403