https://www.taxtmi.com/caselaws?id=257688 In a SARFAESI auction, the highest bidder acquires no vested or enforceable right to confirmation unless the bid is accepted and confirmed in accordance with the auction terms and law. A communication naming the bidder as highest bidder is only an intimation, not a completed sale, and the secured creditor may proceed until sale is lawfully completed while the mortgagor's redemption right subsists. On the refund issue, the entitlement to interest was not decided below, so the matter required fresh consideration by the appellate tribunal and was remanded for that limited purpose. en-us Mon, 01 Dec 2014 00:00:00 +0530 Thu, 19 Mar 2015 12:36:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257688 In a SARFAESI auction, the highest bidder acquires no vested or enforceable right to confirmation unless the bid is accepted and confirmed in accordance with the auction terms and law. A communication naming the bidder as highest bidder is only an intimation, not a completed sale, and the secured creditor may proceed until sale is lawfully completed while the mortgagor's redemption right subsists. On the refund issue, the entitlement to interest was not decided below, so the matter required fresh consideration by the appellate tribunal and was remanded for that limited purpose. Case-Laws Companies Law Mon, 01 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257688