Validity of Sale Confirmation Letter and Sale Certificate - One ...

Tribunal Rules Insolvency and Bankruptcy Code Prevails Over SARFAESI Act, Invalidating Sale Confirmation Amid Moratorium Violation.

December 24, 2022

Case Laws     Insolvency and Bankruptcy     AT

Validity of Sale Confirmation Letter and Sale Certificate - One cannot remain in Oblivion, as to the crystalline fact, that the Appellant / 1st Respondent, had Registered the Sale Certificate, to and in favour of the 2nd Respondent, in utter disregard to the Order of Moratorium, declared by the Adjudicating Authority - Viewed in that perspective, the availing of remedy, under ‘Section 17 (1) of the SARFAESI Act, 2002, by the Aggrieved, before the Debts Recovery Tribunal – I, Hyderabad, is an Otiose one and the same is Negatived, by this Tribunal, considering the fact that the provisions of I & B Code, 2016, overrides the SARFAESI Act, 2002. - AT

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