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SARFAESI | Bank Can't Forfeit Deposit Made After Auction Purchase When Bidder Wasn't Informed Of Challenge Pending Against Sale : Supreme Court

Published: April 15, 2023

The Supreme Court has granted relief to an auction purchaser by directing the refund of the deposit made by him, which was forfeited by the bank by invoking Rule 9(5) of Security Interest...

Source: livelaw.in

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Justice Ajay RastogiJustice Belam TrivediHigh CourtSupreme CourtLater The BankPunjab National Bank RespondentDivision Bench Of The High CourtDivision BenchSecurity InterestDebts Recovery TribunalPunjab National BankThird RespondentFinancial AssetsSecurity Interest ActDebt Recovery TribunalSingle JudgeJustice BelaAuction PurchaseId Amount ForfeitSupreme Court