Cooperative Bank - The Legal Chamber

The Supreme Court held that a second Special Leave Petition challenging the same judgment is not maintainable after an earlier SLP was dismissed and a subsequent recall petition was withdrawn without liberty to approach the Court again. The principle of finality in litigation bars re-agitating the same issue inter-partes, even if questions of law are kept open. Facts Of The Case: The litigation originated from a judgment dated May 15, 2012, passed by a learned Single Judge of the Himachal Pradesh High Court in CWP No.1679/2010, concerning pensionary benefits payable by the Kangra Central Cooperative Bank Limited to its retirees. This judgment was subsequently upheld by a Division Bench of the High Court on February 26, 2024, in LPA No.316/2012. The Bank challenged this Division Ben...

This Supreme Court judgment interprets the interplay between the priority of secured creditors under Section 26E of the SARFAESI Act and the statutory first charge for provident fund dues under Section 11(2) of the EPF & MP Act. The Supreme Court held that the statutory first charge for provident fund contributions overrides the priority granted to secured creditors, even under a non-obstante clause in a later enactment. Facts Of The Case: The appellant, Jalgaon District Central Co-operative Bank Ltd., is a secured creditor which had advanced loans to a co-operative sugar society, secured by a mortgage and hypothecation of the society's assets. The sugar factory became defunct, leading to loan defaults. The bank initiated recovery under the SARFAESI Act, took possession o...

Tag: Cooperative Bank

Supreme Court Clarifies: No Fresh SLP Allowed After Unconditional Withdrawal of Earlier Petition