https://www.taxtmi.com/caselaws?id=360677 A writ petition under Article 226 may be entertained despite a pending Section 17 SARFAESI remedy where that statutory remedy has not proved effective and remains undecided for an inordinate period. The note also states that a secured asset sale can be invalidated if the mandatory 30 days' notice under Rule 8(6) is not effectively available for redemption before publication of the auction notice, because the amended Section 13(8) preserves redemption only up to that stage. Extensions for payment of sale consideration without borrower consent, nomination of the purchaser's sister concern, and reliance on stale valuation for reserve price fixation are treated as further defects that vitiate the sale process. en-us Fri, 06 Apr 2018 00:00:00 +0530 Mon, 21 May 2018 10:27:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360677 A writ petition under Article 226 may be entertained despite a pending Section 17 SARFAESI remedy where that statutory remedy has not proved effective and remains undecided for an inordinate period. The note also states that a secured asset sale can be invalidated if the mandatory 30 days' notice under Rule 8(6) is not effectively available for redemption before publication of the auction notice, because the amended Section 13(8) preserves redemption only up to that stage. Extensions for payment of sale consideration without borrower consent, nomination of the purchaser's sister concern, and reliance on stale valuation for reserve price fixation are treated as further defects that vitiate the sale process. Case-Laws Indian Laws Fri, 06 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360677