Case Law Details
Case Name : Sunil Sharma Vs Hero Fincorp Limited & Another (Supreme Court of India)
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Courts :
Supreme Court of India
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Sunil Sharma Vs Hero Fincorp Limited & Another (Supreme Court of India)
Loan Default & Contract Breach Not Criminal Breach of Trust -No Entrustment, No Mens Rea- Supreme Court Stops Criminalisation of Commercial Loan Disputes
Background & Loans
Appellant was Director of Benlon India Ltd.
Hero Fincorp gave three loans:
₹12.25 cr (24-10-2014)
₹10 cr (06-02-2015)
₹15 cr (10-02-2016)
Machinery purchased using first two loans; major fire on 02-03-2016 destroyed machinery worth ₹180 cr.
Third loan of ₹15 cr (25-02-2016) was converted into unsecured / corporate loan — Her...
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