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    <title>2010 (10) TMI 947 - MADRAS HIGH COURT</title>
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    <description>In a SARFAESI auction, writ jurisdiction was treated as available where a third-party purchaser challenged alleged procedural defects in the sale process rather than measures under section 13(4), so the alternate remedy under section 17 did not bar the petition. The sale notice had to disclose all material encumbrances and liabilities known to the secured creditor under Rule 8(6); failure to mention a sales tax attachment was treated as a material non-disclosure, so the successful bidder was not bound to complete the sale and was entitled to refund of the advance.</description>
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    <pubDate>Thu, 07 Oct 2010 00:00:00 +0530</pubDate>
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      <link>https://www.taxtmi.com/caselaws?id=164142</link>
      <description>In a SARFAESI auction, writ jurisdiction was treated as available where a third-party purchaser challenged alleged procedural defects in the sale process rather than measures under section 13(4), so the alternate remedy under section 17 did not bar the petition. The sale notice had to disclose all material encumbrances and liabilities known to the secured creditor under Rule 8(6); failure to mention a sales tax attachment was treated as a material non-disclosure, so the successful bidder was not bound to complete the sale and was entitled to refund of the advance.</description>
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      <pubDate>Thu, 07 Oct 2010 00:00:00 +0530</pubDate>
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