Search Results for "Confirmation of sale"

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Supreme Court

Supreme Court Upholds High Court Order Directing Confirmation of Auction Sale Under Punjab Package Deal Properties (Disposal) Act, 1976. High Court's Intervention Justified as Financial Commissioner's Order Based on Conjectures Without Material Evidence Under Rule 8 of the Rules 1976.

2 Mar 2022

The appeal arose from a judgment of the Division Bench of the High Court of Punjab and Haryana at Chandigarh dated 13 August 2008, which set aside an ...

Supreme Court

Supreme Court Allows Secured Creditors' Appeals in SARFAESI Act Case on Appointment of Advocate as Commissioner. The Court held that a District Magistrate or Chief Metropolitan Magistrate can appoint an advocate to take possession of secured assets under Section 14(1A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, as an advocate is considered an officer of the court subordinate to the Magistrate.

25 Feb 2022

The dispute centered on the interpretation of Section 14(1A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security ...

Supreme Court

Supreme Court Dismisses Guarantors' Appeals in SARFAESI Act Enforcement Case, Upholding Sale of Mortgaged Properties. The Court held that multiple litigations by guarantors constitute abuse of process and cannot defeat the expeditious recovery mechanism under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

23 Sep 2021

The Supreme Court of India dealt with civil appeals arising from special leave petitions challenging a common judgment of the Madras High Court. The d...

Supreme Court

Supreme Court Allows Appeal by Power Distribution Company in Electricity Dues Recovery Case — Auction Purchaser Liable for Previous Owner's Outstanding Electricity Dues Under Specific Auction Clauses. The Court held that where an auction notice explicitly mentions electricity dues and absolves the secured creditor of liability, the auction-purchaser must clear those dues before seeking a new connection.

14 Feb 2020

The respondent, M/s. Srigdhaa Beverages, was the successful auction-purchaser of a mineral water bottling plant owned by M/s. SB Beverages Private Lim...

Supreme Court

Supreme Court Dismisses Appeal Against Cancellation of Auction for Income Tax Acquired Property — Auction Process Found Bona Fide and in Public Interest. The Court held that the cancellation of the appellant's bid was not arbitrary as it was in public interest to fetch the highest price, and the subsequent auction process was valid.

20 Sep 2019

The appeal arose from a property admeasuring 1053.5 square meters in Mumbai, acquired by the Union of India in 1994 under Section 269UD(1) of the Inco...

Supreme Court

Supreme Court Allows Appeal in Property Dispute Case — Review Jurisdiction Improperly Exercised by High Court. The Court held that the High Court's review order did not satisfy the grounds under Order 47 Rule 1 CPC and was an abuse of process.

2 Jul 2019

The present appeal arises from a long-standing property dispute concerning premises No. 43, Prithviraj Road, New Delhi. The property originally belong...

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