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Karnataka High Court Hears Writ Petition Challenging Forfeiture of Earnest Money by KSFC in E-Auction Under SARFAESI Act. Petitioner Claims Suppression of Pending Suit and Interim Order Affected Marketable Title, Rendering Auction Notification Fraudulent.

The petitioner, N. Lakshmana, filed a writ petition under Articles 226 and 227 of the Constitution of India before the High Court of Karnataka seeking...

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Bombay High Court Allows Petition of Auction Purchaser for Electricity Supply Without Paying Previous Owner's Dues. Auction purchaser of industrial property is not liable for outstanding electricity charges of previous consumer under Electricity Act, 2003.

The petitioner, M/s. Zia Iron Store, purchased an industrial property at N-69, M.I.D.C., Nagpur in an auction conducted in execution of an award of th...

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Bombay High Court Allows Possessors to Pay Decretal Amount to Avoid Auction in Execution Proceedings. Decree Holder Cannot Insist on Auction When Possessor Willing to Satisfy Decree Under Order 21 Rules 64 and 83 of Code of Civil Procedure, 1908.

The petitioners, Lalit Malick, Shyam Malick, and Madhu Bhatti, filed a writ petition challenging the execution proceedings of a decree passed in Comme...

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Bombay High Court Dismisses Decree Holder's Application to Implead Auction Purchaser in Execution Proceedings — Order VI Rule 17 CPC Application Rejected as Execution is Not a 'Trial' and Amendment Would Change Nature of Suit

The petitioner, Sangli Zilla Parishad Employees Co-operative Credit Society Limited, had advanced a loan to respondent no.1, Ninaidevi Sahakari Sakhar...

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Supreme Court Upholds Bank's Reauction and Deposit Forfeiture Under SARFAESI Act, 2002. Auction purchaser's failure to pay balance within stipulated time justified forfeiture, with liberty to pursue recovery through independent proceedings.

The appeal arose from a dispute involving auction proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Secur...

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Bombay High Court Quashes Auction Sale in Co-operative Bank Recovery for Non-Compliance with Rule 107 of Maharashtra Co-operative Societies Rules, 1961. Sale Set Aside Due to Failure to Follow Mandatory Procedure and Lack of Proper Notice to Borrower.

The petitioner, M/s. Puran Automobiles, a partnership firm, had taken a loan from the respondent Janta Sahakari Bank Ltd. The Bank obtained a certific...