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High Court of Karnataka Allows Liquidator's Appeal, Upholds Forfeiture of EMD and PDM for Default by Successful Bidder in Liquidation Sale. Writ Petitioner's Failure to Pay Balance Sale Consideration Within Stipulated Time Justified Forfeiture Under IBC Regulations.

The appellant, Sri Pankaj Srivastava, Liquidator of M/s Samrudhi Realty Ltd., appealed against an order dated 12.12.2024 passed by a learned Single Ju...

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Supreme Court Allows Restitution to Judgment Debtor Under Section 144 CPC When Decree Varied and Decree Holder Purchased Property in Auction. Auction Sale Set Aside Due to Variation of Decree and Lack of Bona Fide Purchaser Status.

The appeal arose from a restitution application under Section 144 of the Code of Civil Procedure, 1908 (CPC). The original plaintiff (decree holder) o...

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Bombay High Court Quashes Stamp Duty Reassessment Order Due to Violation of Natural Justice and Non-Application of Mind. Collector's order set aside for failing to consider petitioner's objections and relying on unsubstantiated ready reckoner rates without providing opportunity of hearing.

The petitioner, Crystal Construction Company, challenged an order dated 16 September 2021 passed by the Collector of Stamps, Andheri, which adjudicate...

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Bombay High Court Allows Auction Purchasers' Petition in SARFAESI Act Case Due to Overriding Effect of Section 26E Over MVAT Act. Property Purchased in SARFAESI Auction Held Free from Prior Sales Tax Attachment Under Section 38C of MVAT Act.

The petitioners, Shailesh K. Bothra and Mukesh C. Karwa, were auction purchasers of a property sold by Cholamandalam Investment & Finance Co. Ltd. (pe...

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High Court of Karnataka Quashes Auction Notice Issued by Town Panchayat for Lack of Authority Under Karnataka Municipalities Act, 1964. Town Panchayat Cannot Auction Property Without Statutory Power and Without Following Due Process Under Section 70 of the Act.

The petitioners, who are residents and property owners in Arkalgud Town, challenged an auction notice dated 20.09.2021 issued by the Arkalgud Town Pan...