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REGISTRAR OF ASSURANCES & ANR Versus ASL VYAPAR PRIVATE LTD. & ANR

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REGISTRAR OF ASSURANCES & ANR  Versus ASL VYAPAR PRIVATE LTD. & ANR Landmark Cases  of India /  सुप्रीम कोर्ट के ऐतिहासिक फैसले REPORTABLE  IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO.8281 of 2022 [ARISING OUT OF S.L.P.(C) NO 21405 OF 2010] REGISTRAR OF ASSURANCES & ANR. …APPELLANTS Versus ASL VYAPAR PRIVATE LTD. & ANR. …RESPONDENTS  WITH CIVIL APPEAL NO.8282 OF 2022 Arising out of SLP(C) No. 22197 of 2010 J U D G M E N T SANJAY KISHAN KAUL, J. Leave granted. Background: 1. The impugned judgment dated 13.05.2010 in W.P. No. 1295/2009 passed by the High Court of Calcutta decided a reference arising from the following two matters – 1 (i) State of West Bengal & Anr. v. Sati Enclave Pvt. Ltd. & Ors., a Letters Patent Appeal being APOT No. 196 of 2008 from a partition and administration suit (“the Partition matter”) and, (ii) ASL Vyapar Pvt. Ltd. v. The Registrar of Assurances & Ors., a Writ Petition being Writ Petition No.

BANK OF RAJASTHAN LTD. Versus VCK SHARES & STOCK BROKING SERVICES LTD

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BANK OF RAJASTHAN LTD. Versus VCK SHARES & STOCK BROKING SERVICES LTD Landmark Cases  of India /  सुप्रीम कोर्ट के ऐतिहासिक फैसले REPORTABLE  IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NOS.8972-8973 OF 2014 BANK OF RAJASTHAN LTD. …APPELLANT Versus VCK SHARES & STOCK BROKING SERVICES LTD. …RESPONDENT J U D G M E N T SANJAY KISHAN KAUL, J. 1. The present reference arises from a question mark over the legal right of the borrower to initiate proceedings before a Civil Court against the bank or financial institution, which seeks to recover a loan amount against it. The Factual History: 2. The appellant bank, Bank of Rajasthan Ltd. (since amalgamated with ICICI Bank Ltd.), sanctioned a term loan to the respondent company on 28.06.1994 with a limit of Rs.1.50 crores at interest of 19.25% per annum, repayable in twelve quarterly instalments. In order to secure the loan, the 1 guarantors including the respondent, inter alia offered title deeds of immo