Repeated Loan Defaults Cannot Defeat Financial Corporation's Right to Recover Dues Under the SFC Act: Supreme Court
The Supreme Court has restored the auction sale of a mortgaged property conducted by Bihar State Financial Corporation (BSFC) and overturned the decision of the Patna High Court that had cancelled the auction. The Court held that financial institutions cannot be prevented from recovering public funds when borrowers repeatedly fail to repay loans despite receiving several opportunities. The judgment was delivered in the case of Bihar State Financial Corporation &…
