Securitization Act. Nor
the petitioner was a 'borrower' under the definition of
Section 2(f) on 26.5.2001 or on 6.5.2002 since a
borrower ... whose accounts became non performing. Reference has
been made to definition 'borrower' under Section 2(f) , default under
Section 2(j) , hypothecation under
M/S Deccan Chronicles Holdings Limited vs The Union Of India on 8 May, 2014
therefore this definition would cover the mortgage
created by the petitioner.
6.2 It is next submitted that the definition of
"borrower" in section ... above definition
as well, the petitioner would come under the
Page 8 of 11
C/SCA/11437/2014 ORDER
definition of 'borrower
dispute that the petitioners here are not borrowers
within the definition of Section 2(1)(f) of the Act of 2002. That
implies that ... borrowers within the meaning of the Act.
The second proviso to the relevant Section covers only the
borrowers of the secured creditors and, by definition
borrower before such a process of
recovery is initiated so as to demonstrate that the reply
of the borrower to the notice under Section ... provides for consideration of the
objections, if any raised by the borrower. By definition under
Section 2(f) of the Act a borrower includes
Commissioner vs Dynamic Industries ... on 25 July, 2014
Author: M.R.Shah
Bench: M.R
Authorized Officer And Assistant ... vs Official Liquidator Of Apoorva ... on 28 July, 2014
Author: S
province". It is trite to say that when in the definition clause
given in any statute the word "means" is used, what follows ... exhaustively. When the word "means" is used in the definition, to borrow the
words of Lord Esher, M.R.in Gough v. Gough
second and the third respondents are included in the definition of 'borrowers', under the provisions of the Securitisation and Reconstruction of Financial Assets
section 15 of
2
the 1985 Act so also the definition of 'borrower' under Section ... word
'borrower' to which recourse has been taken is to be confined to the
1985 Act alone and its definition
