https://www.taxtmi.com/caselaws?id=335297 The Court held that the sale deed executed after the initiation of proceedings under the SARFAESI Act was void as it lacked the Bank's consent, rendering it incapable of conferring any rights to the respondent. The Debts Recovery Tribunal erred in entertaining the securitization application based on the void sale deed, and the District Magistrate's order authorizing possession was deemed lawful. The Bank was allowed to proceed with the e-auction of the mortgaged property, as the alternative remedy through the Debts Recovery Appellate Tribunal was unavailable. The petition was allowed, quashing the DRT's order and permitting the e-auction to proceed. en-us Thu, 01 Sep 2016 00:00:00 +0530 Wed, 30 Nov 2016 10:19:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335297 The Court held that the sale deed executed after the initiation of proceedings under the SARFAESI Act was void as it lacked the Bank's consent, rendering it incapable of conferring any rights to the respondent. The Debts Recovery Tribunal erred in entertaining the securitization application based on the void sale deed, and the District Magistrate's order authorizing possession was deemed lawful. The Bank was allowed to proceed with the e-auction of the mortgaged property, as the alternative remedy through the Debts Recovery Appellate Tribunal was unavailable. The petition was allowed, quashing the DRT's order and permitting the e-auction to proceed. Case-Laws Indian Laws Thu, 01 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335297