https://www.taxtmi.com/caselaws?id=457520 The Bombay HC dismissed a petition seeking vacation of stay on public auction of a Mumbai flat. Petitioners sought directions against the Recovery Officer and Phoenix ARC to prevent alienation of the property until the Debt Recovery Appellate Tribunal became functional. The court found the Recovery Officer had issued a sale notice for Rs.270.29 crores but incorrectly accepted petitioners' claim that only Rs.5 crores was due. The HC characterized this as approbation and reprobation, noting petitioners failed to challenge the sale proclamation and were deliberately attempting to frustrate the auction process with contradictory positions. en-us Fri, 11 Feb 2022 00:00:00 +0530 Sun, 22 Sep 2024 07:19:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457520 The Bombay HC dismissed a petition seeking vacation of stay on public auction of a Mumbai flat. Petitioners sought directions against the Recovery Officer and Phoenix ARC to prevent alienation of the property until the Debt Recovery Appellate Tribunal became functional. The court found the Recovery Officer had issued a sale notice for Rs.270.29 crores but incorrectly accepted petitioners' claim that only Rs.5 crores was due. The HC characterized this as approbation and reprobation, noting petitioners failed to challenge the sale proclamation and were deliberately attempting to frustrate the auction process with contradictory positions. Case-Laws Indian Laws Fri, 11 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457520