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        Case ID :
        Indian Laws

        Right of the auction purchaser of the property - Right of the...

        SARFAESI Act Amendment: Borrowers' Redemption Rights End with Auction Notice Publication u/r 9(1) of 2002 Rules.

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Right of the auction purchaser of the property - Right of the Defaulter of Loan / Borrowers to redeem the secured property - in accordance with the unamended Section 13(8) of the SARFAESI Act, the right of the borrower to redeem the secured asset was available till the sale or transfer of such secured asset. The court went on to say that the amended provisions of Section 13(8) of the SARFAESI Act brought in a radical change inasmuch as the right of the borrower to redeem the secured asset would stand extinguished thereunder on the very date of publication of the notice for public auction under Rule 9(1) of the Rules of 2002 - SC
                                Note: It is a system-generated summary and is for quick reference only.
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