In 2016, a two-judge bench of the Supreme Court set aside the Jammu and Kashmir High Court’s judgment…
The legislation was the SARFAESI Act, which provides a framework for enforcing security interests and recovering secured loans. In State Bank of India v. Santosh Gupta, the…
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In 2016, a two-judge bench of the Supreme Court set aside the Jammu and Kashmir High Court’s judgment which held that various key provisions of the __________ were outside the legislative competence of Parliament, as they interfered with section 140 of the Transfer of Property Act of Jammu and Kashmir, 1920.
Answer and explanation
Correct answer C
The legislation was the SARFAESI Act, which provides a framework for enforcing security interests and recovering secured loans. In State Bank of India v. Santosh Gupta, the Supreme Court upheld Parliament’s competence over this banking legislation and set aside the contrary Jammu and Kashmir High Court decision. The Court also explained how the auction-sale rules respected the State’s property-transfer restrictions.
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