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HC held that: (1) a mortgagee bank can exercise Sarfaesi Act powers for property sale despite a Tax Recovery Officer's attachment order, subject to subsequent legal determination of competing rights; (2) sub-registrar cannot refuse sale certificate registration merely due to attachment orders; (3) registration shall remain subject to existing attachment orders; (4) auction purchaser obtains rights equivalent to the bank's original rights, with potential competing claims to be adjudicated in separate proceedings. The bank must revalidate the sale certificate within 30 days, enabling registration. Petition partially allowed, with all future rights of parties preserved for separate legal resolution.
HC held that: (1) a mortgagee bank can exercise Sarfaesi Act powers for property sale despite a Tax Recovery Officer's attachment order, subject to subsequent legal determination of competing rights; (2) sub-registrar cannot refuse sale certificate registration merely due to attachment orders; (3) registration shall remain subject to existing attachment orders; (4) auction purchaser obtains rights equivalent to the bank's original rights, with potential competing claims to be adjudicated in separate proceedings. The bank must revalidate the sale certificate within 30 days, enabling registration. Petition partially allowed, with all future rights of parties preserved for separate legal resolution.
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TaxTMI 
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