Recovery of public money cannot wait indefinitely: Calcutta High Court

The borrower company had sought some time to finalise arrangements with an Assets Reconstruction Company (ARC), that was stated to have agreed to take up the loan and repay the lending financial corporation.
Calcutta High Court
Calcutta High Court

The recovery of public money cannot wait indefinitely, observed the Calcutta High Court recently while dismissing a plea seeking time to repay a loan due to the West Bengal Financial Corporation after a sale notice was issued with respect to the borrower's assets (Brahm (Alloys) Ltd. & Anr.v. West Bengal Financial Corporation & Ors.)

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