https://www.taxtmi.com/caselaws?id=294138 Mandatory compliance with SARFAESI possession, sale notice, sale confirmation and payment timelines was treated as essential, and the secured creditor's failure to prove proper service, affixture, publication and timely confirmation rendered the possession proceedings and sale invalid. The Court also held that the writ was maintainable because the statutory appeal was not an efficacious remedy in the circumstances. The borrowers' challenge was not barred by limitation and no waiver arose, as the creditor had not disclosed the auction result before the challenge and the borrowers promptly objected to subsequent steps. Sale of the entire secured asset for dues far below the reserve value was additionally found not bona fide, and the enforcement measures were set aside. en-us Tue, 21 Apr 2020 00:00:00 +0530 Tue, 23 Mar 2021 11:20:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294138 Mandatory compliance with SARFAESI possession, sale notice, sale confirmation and payment timelines was treated as essential, and the secured creditor's failure to prove proper service, affixture, publication and timely confirmation rendered the possession proceedings and sale invalid. The Court also held that the writ was maintainable because the statutory appeal was not an efficacious remedy in the circumstances. The borrowers' challenge was not barred by limitation and no waiver arose, as the creditor had not disclosed the auction result before the challenge and the borrowers promptly objected to subsequent steps. Sale of the entire secured asset for dues far below the reserve value was additionally found not bona fide, and the enforcement measures were set aside. Case-Laws Indian Laws Tue, 21 Apr 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294138