https://www.taxtmi.com/caselaws?id=293737 A secured asset sold on an as-is-where-is basis does not, by itself, create an implied duty on the secured creditor to remove occupants and deliver vacant physical possession after issuance of the sale certificate. The auction notice and sale terms govern the parties' rights, and where the purchaser bids with notice of existing occupation, the principle of caveat emptor applies. Encumbrance was treated as limited to burdens legally ascertainable or discoverable on inspection, unless the sale notice expressly provides otherwise. The Court distinguished SARFAESI possession cases that did not involve an as-is-where-is sale and held that no enforceable duty arose to hand over vacant possession. en-us Fri, 29 Aug 2014 00:00:00 +0530 Sat, 27 Feb 2021 11:03:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293737 A secured asset sold on an as-is-where-is basis does not, by itself, create an implied duty on the secured creditor to remove occupants and deliver vacant physical possession after issuance of the sale certificate. The auction notice and sale terms govern the parties' rights, and where the purchaser bids with notice of existing occupation, the principle of caveat emptor applies. Encumbrance was treated as limited to burdens legally ascertainable or discoverable on inspection, unless the sale notice expressly provides otherwise. The Court distinguished SARFAESI possession cases that did not involve an as-is-where-is sale and held that no enforceable duty arose to hand over vacant possession. Case-Laws Indian Laws Fri, 29 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293737