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Bombay High Court Dismisses Assignee's Challenge to Auction Sale for Non-Compliance with Regulation 37(1) of DRT Regulations, 2015 — Failure to Raise Objection at Appropriate Stage and Lack of Prejudice Renders Challenge Belated and Unsubstantiated.

The petitioner, Invest Assets Securitisations & Reconstruction Private Limited, an assignee holding a pari passu charge with the first respondent Bank...

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High Court of Karnataka Dismisses Writ Petition Challenging Tribunal Orders in SARFAESI Proceeding. Borrowers Failed to Comply with Conditional Orders and Sale Certificate Was Already Issued to Auction Purchaser.

The case arose from a writ petition filed under Articles 226 and 227 of the Constitution of India challenging two orders of the Debts Recovery Tribuna...

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Bombay High Court Dismisses Writ Petition Challenging Auction Sale of Mortgaged Property Under Recovery of Debts Due to Banks and Financial Institutions Act, 1993 — No Ground to Set Aside Sale After Certificate Issued and No Appeal Filed.

The petitioners, Si2 Microsystems Pvt. Ltd. and its director Sanjay Vedaprakash Soni, availed a cash credit facility of Rs. 10 crores and a term loan ...

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Bombay High Court Dismisses Appeal by Bank in Possession Suit, Upholds Trial Court's Decree for Possession and Mesne Profits. Counterclaim for Specific Performance of Sale Contract Dismissed as Unenforceable Due to Lack of Registered Agreement and Failure to Prove Readiness and Willingness.

The case involves a dispute over immovable property, Municipal House No.9 at Ahmedpur, consisting of a godown, three rooms, and open space on a plot o...

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Bombay High Court Allows Auction Purchaser's Petition Against Octroi Demand on Customs-Auctioned Goods. The court held that octroi liability on goods already stored in a warehouse and auctioned by Customs falls on the municipal corporation, not the purchaser.

The petitioner, M/s. DK Enterprises, was the successful bidder in a public auction conducted by the Commissioner of Customs, Mumbai, on 24 October 200...

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Supreme Court Allows Appeal of Auction Purchaser in SARFAESI Act Case — High Court Erred in Entertaining Writ Petition Despite Alternative Remedy. Restoration of Securitization Application After Full Payment and Sale Certificate Issuance Held Improper.

The appeal arises from an order of the Division Bench of the High Court for the State of Telangana at Hyderabad, which set aside the DRT's order dismi...