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High Court of Karnataka Examines Validity of SARFAESI Act Auction Sale Where Title Derived from Alleged Forged Documents. Court Considers Whether Auction Purchaser is Entitled to Refund of Sale Consideration on Ground of Fraud.

The writ petition was filed by M/s Paramount Constructions Company challenging the sale certificate dated 10.10.2014 issued by the Authorised Officer ...

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Bombay High Court Quashes Recovery Proceedings Against Timber Purchasers for Fire-Destroyed Goods. Property in Timber Not Passed to Purchasers Under Sale of Goods Act, 1930, Hence No Liability Under Maharashtra Land Revenue Code.

The petitioners, fifteen timber merchants, participated in an auction conducted by the Forest Department on 16.04.2008 and 15.05.2008 for the purchase...

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Bombay High Court Upholds Tax on Hire Purchase Components Under Bombay Sales Tax Act — Option Money, Insurance, and Hire Premium Included in Sale Price. Hire Purchase Transaction Constitutes a Sale and Resale Deduction Under Section 8 Not Available.

The case involves two sales tax references under the Bombay Sales Tax Act, 1959, arising from the Maharashtra Sales Tax Tribunal. The applicant, M/s. ...

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Bombay High Court Upholds Executing Court's Rejection of Time-Barred Application to Set Aside Auction Sale Under Order 21 Rule 89 CPC. Application Filed 63 Days After Sale Found Barred by Limitation, Secured Creditor's Prior Charge on Property Upheld for Distribution of Sale Proceeds.

The petitioner, a borrower, had availed a housing loan from respondent No.1 finance company and mortgaged the purchased flat. Upon default, the lender...

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Supreme Court Allows Appeal in Insurance Claim Case for Theft of Vehicle Purchased at Auction — Insurer Cannot Repudiate Claim on Ground of Lack of Insurable Interest When Premium Was Accepted and Policy Issued Reflecting Transferee's Name.

The appellant, M/s. Balwant Singh & Sons, purchased a vehicle at an auction conducted by ICICI Bank, the hypothecatee, after the original owner (third...

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Bombay High Court Quashes Tender Process for Unilateral Reduction of Upset Price in Co-operative Bank Property Sale. Tender Authority Cannot Reduce Upset Price After Issuance of Tender Notice Without Fresh Tender Process.

The case involves two writ petitions challenging the decision of the Buldhana District Co-operative Agricultural Rural Multipurpose Development Bank L...