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Haryana Financial Corporation & Anr vs M/S Jagdamba Oil Mills & Anr on 28 January, 2002

17. The learned Single Judge, further referring to authoritative pronouncement in Haryana Financial Corporation Vs. Jagadamba Oil Mills [(2002) 3 SCC 496] held that there is nothing reflected in the affidavit filed in support of this writ petition by which this court could interfere with the impugned notice, which merely calls upon the petitioner to pay the dues, as otherwise it would necessitate action for recovery by auction sale of the mortgaged property that has been conferred under Section 29 of the State Financial Corporation Act. 1951; in such circumstances, it is not possible to grant any of the reliefs as sought in the writ petition, though it would not preclude the petitioner from seeking redemption of the mortgage on making full payment of the debt due claimed by the third respondent before auction sale of the mortgaged property takes place. The learned Single Judge, by holding so, dismissed the writ petition filed by the borrower company.
Supreme Court of India Cites 11 - Cited by 526 - A Pasayat - Full Document
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