GRT Hotels Wins Auction Bid for Property, SC Validates Sale Process Under SARFAESI Act Section 31

SC upheld the auction's validity under SARFAESI Act, confirming GRT Hotels as the successful bidder. The court directed Edelweiss ARCL to facilitate peaceful possession transfer to GRT Hotels within one month and authorized Edelweiss to withdraw the deposited funds. While acknowledging Edelweiss's claim of a higher outstanding debt, the court focused on procedural compliance and accepted the highest available bid. The special leave petition was disposed of, with consequential directions for asset transfer and fund release, without delving into the detailed debt quantum. .....

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