Financial Assets and Enforcement of Security Interest Act

A single-judge bench of Allahabad High Court while hearing a petition filed by Smt Kiran Singh dismissed the petition of Kiran Singh of Naubasta, Kanpur Nagar with a cost of Rs 1,00,000/- while directing the hand over the possession of the house to the bank.

Supreme Court division bench set aside an Allahabad High Court order directing Bijnor Urban Cooperative Bank Limited to consider granting OTS to a defaulter despite the bank's plea that Sarfaesi Act proceedings were pending.