Doctrine of unconscionable contract cannot be invoked for frustrating action initiated by a bank for recovery of its dues under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

Indian Bank v. Blue Jaggers Estates Ltd. (Supreme Court), CIVIL APPEAL NOS. _______of 2010 (Arising out of SLP(C) Nos. 4981- 4982 of 2010),  Decided on August 9, 2010 Those who take loan and avail financial facilities from the bank are duty bound to repay the amount strictly in accordance with the terms of the contract; any lapse in such matters has to be viewed seriously and the bank is not only entitled but duty bound to recover the amount by adopting all legally permissible methods IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NOS. _____OF 2010. (Arising out of SL...