Rules, 2002, Bank was not authorized
to proceed only against the borrower because borrower includes a
guarantor and this aspect has been rightly interpreted ... principles of statutory
interpretation, could have been avoided; therefore, since the definition
of borrower is disjunctive and leaves an option on the financial
institution
2013.That being the position, it would be totally illogical to borrow
the definition given in clause (ia) of Sub- section 1 of Section
observed as under :
It is trite to say that when in the definition clause given in
any statute the word "means" is used, what ... exhaustively. When the phrase "means"
is used in the definition, to borrow the words of Lord Esher
M.R. in Gough v. Gough
bank and would be deemed to be "communicated" to the
borrower as envisaged under Section 13(3A) SARFAESI Act.
26. For the last ... borrower:".] by Act 30 of 2004, which now provides for
consideration of the objections, if any raised by the borrower.
By definition under Section
Tamil Nadu Shops and Establishments Act,
1947, borrows the definition of “factory” from the Factories Act .
20. Section 2(3) of the Tamil Nadu Shops ... Clerical Department of a factory or
industrial establishment. As the definition for “factory” borrowed from
the Factories Act and Section 2(3) of the Tamil
excluded from the definition of the expression
“interest” under Section 2(28A) , as the definition is so
exhaustive. The definition is so exhaustive ... excluded from the definition of the expression
“interest” under Section 2(28A) , as the definition is so
exhaustive. The definition is so exhaustive
SARFAESI Act, a guarantor or mortgagor
is included in the definition of borrower. A relevant extract therefrom reads
as follows:-
2(f) "borrower
Indiabulls
Housing Finance Limited, wherein Section 18 and the
definition of the term 'borrower' as found under Section
2(f) of the SARFAESI ... Section 18 of the
SARFAESI Act and the definition of the term 'borrower'
as found in Section 2(f) of the SARFAESI
there were altogether 1321
members. The definition clause of the policy document
provides the definition of 'Borrowers' which shall mean ... definition of the word "member"
is primary borrower or co-borrower of the Master
policyholder. The "Mater Policyholder" means the
Financial
Court though was dwelling upon Clause 4.1
of the Policy; however, borrowed the
definition of 'family' from M.P.
Fundamental Rules
