https://www.taxtmi.com/caselaws?id=187832 A court-conducted sale of mortgaged industrial property may be challenged under Order XXI Rule 90 CPC, as made applicable by section 32(8) of the State Financial Corporations Act, only on proof of material irregularity in the conduct of the sale and resulting substantial injury. The governing test is not mere inadequacy of price; the applicant must show a direct link between the irregularity and the injury claimed. Where the sale record shows adjournments, efforts to obtain better offers, participation of interested bidders, and a conscious judicial assessment before confirmation, the sale is not liable to be set aside. en-us Wed, 20 Mar 1974 00:00:00 +0530 Tue, 08 Nov 2016 16:41:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187832 A court-conducted sale of mortgaged industrial property may be challenged under Order XXI Rule 90 CPC, as made applicable by section 32(8) of the State Financial Corporations Act, only on proof of material irregularity in the conduct of the sale and resulting substantial injury. The governing test is not mere inadequacy of price; the applicant must show a direct link between the irregularity and the injury claimed. Where the sale record shows adjournments, efforts to obtain better offers, participation of interested bidders, and a conscious judicial assessment before confirmation, the sale is not liable to be set aside. Case-Laws Indian Laws Wed, 20 Mar 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187832