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Sahyadri Co-operative Credit Society Ltd. vs. State of Maharashtra & Ors. (SC)

34.00 3.40

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Contract Act, 1872–Sec. 176–Loan Agreement–Default in payment–Pledge–Dues of workers and sugarcane farmers–Which will be given precedence ?–Rights of unsecured creditors cannot prevail over the rights of pawnee bank in absence of liquidation.