https://www.taxtmi.com/caselaws?id=391118 Where auction conditions and the governing recovery rules require payment of the balance purchase money within the stipulated time, default permits forfeiture of the deposit and resale of the property, and the defaulting purchaser loses any claim to refund or to block the subsequent sale. The Kerala High Court applied that rule consistently with the Security Interest (Enforcement) Rules, 2002, and held that the petitioner's request for extension of time, refund of the 25% deposit, and quashing of the proposed resale had no legal basis. The writ petition was dismissed, leaving the proposed resale and forfeiture consequence undisturbed. en-us Tue, 07 Jan 2020 00:00:00 +0530 Mon, 20 Jan 2020 09:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391118 Where auction conditions and the governing recovery rules require payment of the balance purchase money within the stipulated time, default permits forfeiture of the deposit and resale of the property, and the defaulting purchaser loses any claim to refund or to block the subsequent sale. The Kerala High Court applied that rule consistently with the Security Interest (Enforcement) Rules, 2002, and held that the petitioner's request for extension of time, refund of the 25% deposit, and quashing of the proposed resale had no legal basis. The writ petition was dismissed, leaving the proposed resale and forfeiture consequence undisturbed. Case-Laws Indian Laws Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391118