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High Court of Karnataka Directs Refund of Forfeited Auction Amount in SARFAESI Sale Due to Bank's Failure to Issue Sale Certificate. Bank's Failure to Perform Reciprocal Promise Discharges Bidder from Obligation to Pay Balance.

The petitioner, Sri Kalyanamurthy K., participated in an e-auction conducted by the State Bank of India (respondent) for the sale of an immovable prop...