Public Money Recovery Cannot Wait Indefinitely to Suit Convenience of A Particular Borrower

Brahm (Alloys) Ltd. & Anr. Vs West Bengal Financial Corporation & Ors. (Culcutta High Court) HC held that Counsel for the respondents is justified in arguing that recovery of public money cannot wait indefinitely to suit the convenience of a particular borrower. In the present case, even the latest offer given by the concerned ARC, with whom the petitioners are negotiating, is patently conditional. As such, there is no final proposal, even at this stage, coming from the ARC at the behest of the petitioners for repayment of the loan. In such circumstances, the respondent no.1 was fully ...