https://www.taxtmi.com/caselaws?id=359230 Under Rule 9 of the Security Interest (Enforcement) Rules, 2002, the fifteen-day period for payment of the balance auction price runs from confirmation of sale by the secured creditor, not from the auction date. The rule scheme also links forfeiture and issuance of the sale certificate to confirmation of sale and compliance with payment terms. On that reading, default before confirmation does not trigger forfeiture; the auction purchaser's payment within fifteen days of confirmation satisfied the requirement, so the sale could not be set aside. en-us Wed, 21 Mar 2018 00:00:00 +0530 Thu, 26 Apr 2018 09:35:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359230 Under Rule 9 of the Security Interest (Enforcement) Rules, 2002, the fifteen-day period for payment of the balance auction price runs from confirmation of sale by the secured creditor, not from the auction date. The rule scheme also links forfeiture and issuance of the sale certificate to confirmation of sale and compliance with payment terms. On that reading, default before confirmation does not trigger forfeiture; the auction purchaser's payment within fifteen days of confirmation satisfied the requirement, so the sale could not be set aside. Case-Laws Indian Laws Wed, 21 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359230