https://www.taxtmi.com/highlights?id=77224 Bonafide purchasers - Auction sale held in favour of appellant - sale challenged on the ground that the Bank had not followed the statutory procedure prescribed under the Security Interest (Enforcement) Rules, 2002 - Issuance and service of mandatory notices to the borrower as required under Rules 8(6) and 8(7). - Despite being bonafide purchasers for value, the court upholds the decision to set aside the sale due to the bank's non-compliance with statutory provisions. The status of the appellants as tenants is restored, allowing the borrower to evict them in accordance with the law. en-us Wed, 08 May 2024 09:17:46 +0530 Wed, 08 May 2024 09:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77224 Bonafide purchasers - Auction sale held in favour of appellant - sale challenged on the ground that the Bank had not followed the statutory procedure prescribed under the Security Interest (Enforcement) Rules, 2002 - Issuance and service of mandatory notices to the borrower as required under Rules 8(6) and 8(7). - Despite being bonafide purchasers for value, the court upholds the decision to set aside the sale due to the bank's non-compliance with statutory provisions. The status of the appellants as tenants is restored, allowing the borrower to evict them in accordance with the law. Highlights Indian Laws Wed, 08 May 2024 09:17:46 +0530 https://www.taxtmi.com/highlights?id=77224