Case Law Details
Case Name : State Bank of India Vs State of H. P. & Ors. (Himachal Pradesh High Court)
Appeal Number : CWP No. 8502 of 2023
Date of Judgement/Order : 15/12/2023
Related Assessment Year :
Courts :
All High Courts Himachal Pradesh HC
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State Bank of India Vs State of H. P. & Ors. (Himachal Pradesh High Court)
Introduction: The Himachal Pradesh High Court recently addressed a crucial legal issue regarding the priority of secured creditors over state departments, including Excise and Revenue. This article provides a detailed analysis of the case between the State Bank of India and the State of H.P., shedding light on the court’s findings and implications.
Detailed Analysis:
- Background of the Case: The case revolves around M/s Arvind Casting Pvt. Ltd., which availed financial assistance from the State Bank of India (SBI). After the unit’s property was mortgaged, it became a Non-Performing Asset (NPA), leading to recovery proceedings under the SARFAESI Act.
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