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Bombay High Court Directs Deposit of Balance Bid Amount in Auction Sale of Company in Liquidation. Official Liquidator's Report for Confirmation of Sale of Properties of M/s. Akola Oil Industries Ltd. - Bidders Required to Deposit Balance Amount Within 15 Days.

The Official Liquidator appointed over M/s. Akola Oil Industries Ltd. (in liquidation) filed reports seeking confirmation of auction sales held on 9-1...

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Bombay High Court Dismisses Judgment Debtor's Objection to Auction Sale in Execution Proceedings — Auction Sale Confirmed Despite Alleged Irregularities as Objection Filed After 15 Days Without Proper Explanation.

The petitioner, Bhagwandas s/o Chunilal Purohit, was the original defendant/judgment debtor in a recovery suit filed by respondent No.1, Machindra s/o...

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Bombay High Court Dismisses Petitioner's Challenge to Bank Auction — Bid Below Reserve Price and Without Earnest Money Rejected. Auction Sale Confirmed in Favor of Highest Bidder Despite Petitioner's Claim of Irregularity.

The Petitioner, Goldie Sud, filed a writ petition under Article 226 of the Constitution of India challenging the public auction conducted by Punjab Na...

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Bombay High Court Sets Aside Revisional Order and Upholds Cooperative Bank's Auction Sale Despite Technical Objection on Deposit. Adjustment of Earnest Money Towards Mandatory 15% Payment Under Auction Terms Held Valid; Defaulting Borrower's Plea Rejected.

The petitioners, a cooperative bank and its Special Recovery Officer, challenged the order dated 19th January 2013 passed by the Divisional Joint Regi...

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Supreme Court Allows Auction Purchaser's Appeal in Execution Sale Dispute — High Court Erred in Invalidating Court Auction Without Setting Aside Decree. Court Auction Sale Confirmed Under Order 21 Rule 92 CPC Cannot Be Invalidated Collaterally in Absence of Fraud or Material Irregularity.

The case arises from a civil suit filed by decree holder) against judgment debtor) for recovery of ₹3,75,000 with interest. The suit was decreed ex ...

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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...