Authority: Supreme Court of India
Order Date: 01-09-2026
Case Overview
- Appellant: Mattapalli Laxmi Narasimha Industries (borrower)
- Respondents: Andhra Pradesh State Financial Corporation (secured creditor) and others
- Civil Appeal No.10503/2014 concerning loan securities and collateral held at loan inception
- Dispute centers on whether two collateral securities furnished by the appellant are still held by the secured creditor and can be returned to the borrower after a sale to private respondents, considering the sale price received
Final Outcome
- The Court heard the matter in part and ordered the appeal to be re‑listed after three weeks
- Counsel for the Andhra Pradesh State Financial Corporation may obtain instructions on the status of the two collateral securities and the borrower’s right to claim their return, given the sale to private respondents
Topics: Court Proceedings, Secured Lending, Collateral Management