stand that the petitioner-firms neither
came under the definition of 'borrowers' to whom benefit was to be
granted, nor the loans which ... definition, now it
is to be determined whether in the opinion of concerned bank, the
petitioner-firms fall under the definition of 'borrower
Company/principal borrower.
Section 2(f) of the SARFAESI Act defines the terms 'borrower'
as under: -
2(f) "borrower" means ... virtue of the above definition even a guarantor would fall
within the definition of the term "borrower" as defined
definition from an Act is transposed into another
Act, it is as if the said definition is physically written into the
borrowing Act without ... such definition is used in the first Act. Admittedly the scope of
the two Acts would be distinct and if the definition is borrowed
from
assign” are not defined in the Act. Therefore, we may justifiably
borrow the definition of the expression “agent” from Section 182 of the
Indian Contract
Arbitration and Conciliation Act, 1996
under section 7 borrows the definition of the
“arbitration agreement” from the corresponding
provision at article 7 of the UNCITRAL ... Model
Law which in turn borrows this from article II
of the New York Convention. However, the
definition of the word “party” in section
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 phrase
"means" is used in the definition, to borrow the words of
Lord Esher M.R. in Gough v. Gough
prescribed for filing an appeal by a
borrower and by a person other than the borrower. The 2nd
proviso, and which is really germane ... accrued
on the debt owed by the borrower to the secured creditor.
In fact, the definition of the word "debt" means any liability
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 phrase "means" is used in the definition, to
borrow the words of Lord Esher M.R. in Gough vs. Gough
Lender and Borrower, as defined in the FA. The definition of
borrower in the FA does not extend to the second Respondent. Thus ... alleged breach of any provision of the FA. The FA
contains a definition of the expression “Facility Documents”. The said
expression is defined to include
borrower of
respondent no.1 and therefore falling within the definition of "borrower"
as defined in Section
