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Indian Laws - Highlights / Catch Notes

Home Highlights April 2024 Year 2024 This

Sale of mortgaged (scheduled) properties which was to be ...

Indian Laws

April 13, 2024

Sale of mortgaged (scheduled) properties which was to be conducted by the Authorized Officer (Respondent No.2) of the Respondent-Bank - default in repayment of loan by the Borrower - The Supreme Court considered the conduct of the borrower and noted that the confirmed auction sale could only be interfered with in cases of fraud or collusion, which were not present in this case. It observed that the borrower's right of redemption stood extinguished upon execution of the registered sale deed. Therefore, the Court found no justification for the High Court's interference with the confirmed sale, which had reached an irreversible stage.

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