https://www.taxtmi.com/caselaws?id=195048 The SARFAESI auction process required confirmation only in favour of the highest bidder, immediate deposit of 25% of the sale price, and payment of the balance within the stipulated time, failing which the asset could be resold and the initial deposit forfeited. The sale notification did not permit extension of time, part payment, or transfer of the confirmed sale to a nominee. On the facts described, confirmation was made in favour of a non-bidder, the balance was accepted after a long delay, and the sale certificate was issued to a stranger. The section 14 application also suppressed prior proceedings and was filed against a deceased person, misleading the Magistrate; the text states that the auction sale and consequential possession order were therefore liable to be annulled, with restoration of possession. en-us Mon, 13 Aug 2012 00:00:00 +0530 Mon, 18 Jun 2018 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195048 The SARFAESI auction process required confirmation only in favour of the highest bidder, immediate deposit of 25% of the sale price, and payment of the balance within the stipulated time, failing which the asset could be resold and the initial deposit forfeited. The sale notification did not permit extension of time, part payment, or transfer of the confirmed sale to a nominee. On the facts described, confirmation was made in favour of a non-bidder, the balance was accepted after a long delay, and the sale certificate was issued to a stranger. The section 14 application also suppressed prior proceedings and was filed against a deceased person, misleading the Magistrate; the text states that the auction sale and consequential possession order were therefore liable to be annulled, with restoration of possession. Case-Laws Indian Laws Mon, 13 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195048