https://www.taxtmi.com/caselaws?id=284395 Section 13(5A) of the SARFAESI Act, which allows an authorised officer of the secured creditor to bid at a postponed sale when no bid is received at or above the reserve price, was upheld as constitutionally valid. The provision was read as filling a statutory gap in auction sales, while remaining constrained by valuation by an approved valuer, fixation of reserve price, public notice, and the safeguards in the Security Interest (Enforcement) Rules, 2002. The availability of a Section 17 remedy before the Debt Recovery Tribunal further protected the borrower, so the provision was not arbitrary and did not violate Articles 300A or 21. en-us Fri, 20 Jan 2017 00:00:00 +0530 Sat, 16 Nov 2019 10:33:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284395 Section 13(5A) of the SARFAESI Act, which allows an authorised officer of the secured creditor to bid at a postponed sale when no bid is received at or above the reserve price, was upheld as constitutionally valid. The provision was read as filling a statutory gap in auction sales, while remaining constrained by valuation by an approved valuer, fixation of reserve price, public notice, and the safeguards in the Security Interest (Enforcement) Rules, 2002. The availability of a Section 17 remedy before the Debt Recovery Tribunal further protected the borrower, so the provision was not arbitrary and did not violate Articles 300A or 21. Case-Laws Indian Laws Fri, 20 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284395