Orissa State Financial Corp. . vs Sukanti Mohapatra .

insc-2024-256 Supreme Court of India 21 March 2024 • 12 min read

Judges (2)

Dipankar Datta Delivered Sanjiv Khanna Coram

Parties (4)

Orissa State Financial Corporation Appellant Prasanta Kumar Mohapatra Respondent Sukanti Mohapatra Respondent Tusar Ranjan Mishra Respondent

Case Significance

Orissa State Financial Corp. . vs Sukanti Mohapatra . is a Supreme Court of India decision dated March 21, 2024 (citation: insc-2024-256). A state financial corporation seized and sold mortgaged property under the SFC Act after a vehicle loan of Rs.3.26 lakhs remained unpaid, but the High Court set aside the sale. The Supreme Court allowed the appeal but gave the original borrowers an option to pay the full sale consideration of Rs.13.2 lakhs with 18% compound interest to the auction purchaser by July 2024 to redeem the property, failing which the purchaser would be put in possession with police aid. The bench comprised Justices Dipankar Datta and Sanjiv Khanna. The judgment was delivered by Justice Dipankar Datta.

Summary

A state financial corporation seized and sold mortgaged property under the SFC Act after a vehicle loan of Rs.3.26 lakhs remained unpaid, but the High Court set aside the sale. The Supreme Court allowed the appeal but gave the original borrowers an option to pay the full sale consideration of Rs.13.2 lakhs with 18% compound interest to the auction purchaser by July 2024 to redeem the property, failing which the purchaser would be put in possession with police aid.

What was the outcome of Orissa State Financial Corp. . vs Sukanti Mohapatra .?

A state financial corporation seized and sold mortgaged property under the SFC Act after a vehicle loan of Rs.3.26 lakhs remained unpaid, but the High Court set aside the sale. The Supreme Court allow...

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (insc-2024-256)