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of <h1>Auction Purchasers Granted Extra Time for Payment Due to Pandemic Delays, Interest Applies from March 2020.</h1> <h3>Union Bank of India Versus Rajat Infrastructure Pvt. Ltd. & Ors.</h3> The SC granted a two-month extension for auction purchasers to deposit the balance amount post-lockdown, acknowledging pandemic-related delays. Purchasers ... Extension of time given to the applicant(s)/auction purchasers to deposit the balance amount till 20.3.2020 - HELD THAT:- The time granted for deposit of the balance amount should be extended in view of the disability caused due to lockdown. The time to deposit the remaining amount extended for two months after lifting of the lockdown. The applicant is directed to pay interest at the lending rate for the period starting from 20.03.2020 till the date of deposit. Application disposed off. The Supreme Court extended the time for depositing balance amount for auction purchasers due to pandemic, granting a two-month extension after lockdown lift. The applicant must pay interest at lending rate from 20.03.2020 till deposit date.
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