https://www.taxtmi.com/caselaws?id=457521 The Bombay HC dismissed an appeal challenging a lower court's refusal to restrain secured creditors from enforcing security interest in disputed property. The court found no prima facie evidence of fraud or collusion between defendants and bank officials in purchasing the property at undervalued prices. The bank was unaware of the MOU between parties and followed proper SARFAESI Act procedures. Allegations of secret understanding were deemed vague without sufficient particulars. The court held that security enforcement measures under Section 13 of SARFAESI Act could not be challenged in civil suit absent evidence of collusion. en-us Wed, 09 Mar 2022 00:00:00 +0530 Sun, 22 Sep 2024 07:19:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457521 The Bombay HC dismissed an appeal challenging a lower court's refusal to restrain secured creditors from enforcing security interest in disputed property. The court found no prima facie evidence of fraud or collusion between defendants and bank officials in purchasing the property at undervalued prices. The bank was unaware of the MOU between parties and followed proper SARFAESI Act procedures. Allegations of secret understanding were deemed vague without sufficient particulars. The court held that security enforcement measures under Section 13 of SARFAESI Act could not be challenged in civil suit absent evidence of collusion. Case-Laws Indian Laws Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457521