https://www.taxtmi.com/caselaws?id=248113 Private treaty sale of a secured asset under the SARFAESI framework was invalid because the secured creditor did not comply with the mandatory notice and sale requirements under Section 13 of the Act and Rules 8 and 9 of the 2002 Rules. The Court treated strict adherence to the statutory scheme as essential, and noted that no written agreement fixed the terms for a private treaty sale. As the borrower was denied the statutory protection, the sale could not stand and was declared null and void. The sale was set aside, and the purchasers were directed to return possession on receipt of the amounts ordered to be refunded. en-us Fri, 14 Mar 2014 00:00:00 +0530 Fri, 10 Jul 2015 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248113 Private treaty sale of a secured asset under the SARFAESI framework was invalid because the secured creditor did not comply with the mandatory notice and sale requirements under Section 13 of the Act and Rules 8 and 9 of the 2002 Rules. The Court treated strict adherence to the statutory scheme as essential, and noted that no written agreement fixed the terms for a private treaty sale. As the borrower was denied the statutory protection, the sale could not stand and was declared null and void. The sale was set aside, and the purchasers were directed to return possession on receipt of the amounts ordered to be refunded. Case-Laws Indian Laws Fri, 14 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248113