https://www.taxtmi.com/caselaws?id=334590 An auction sale under the SARFAESI framework may be set aside where the sale process is marked by material irregularities and non-compliance with enforcement procedure; payment of the bid amount by the auction purchaser does not by itself validate the sale. A later challenge under Section 17 is maintainable when it arises from a distinct subsequent cause of action occurring after the auction, rather than repeating the earlier challenge to pre-auction measures. The auction purchaser is protected by refund of the purchase money with interest, and the secured creditor may proceed afresh in accordance with law if the dues are not cleared within the stipulated time. en-us Tue, 08 Nov 2016 00:00:00 +0530 Thu, 17 Nov 2016 08:00:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334590 An auction sale under the SARFAESI framework may be set aside where the sale process is marked by material irregularities and non-compliance with enforcement procedure; payment of the bid amount by the auction purchaser does not by itself validate the sale. A later challenge under Section 17 is maintainable when it arises from a distinct subsequent cause of action occurring after the auction, rather than repeating the earlier challenge to pre-auction measures. The auction purchaser is protected by refund of the purchase money with interest, and the secured creditor may proceed afresh in accordance with law if the dues are not cleared within the stipulated time. Case-Laws Indian Laws Tue, 08 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334590