In Brief
SIDBI and another challenged the applicability of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) in Jammu and Kashmir. The Supreme Court held that the SARFAESI Act applies throughout India, including Jammu and Kashmir, based on its previous decision in State Bank of India v. Santosh Gupta. The High Court's judgment against the applicability was set aside. The Court allowed the appeal and permitted the appellants to proceed under the SARFAESI Act.
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