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    <title>2016 (11) TMI 1764 - Supreme Court</title>
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    <description>A special recovery mechanism for mortgaged property required the debtor to pursue the prescribed remedy for setting aside an auction sale before confirmation, and an appellate authority could not reopen a sale once it had been confirmed and a sale certificate issued. Where the debtor failed to comply with statutory deposit conditions and earlier directions to satisfy the award, the confirmed sale attained finality and could not be undone through a residual or appellate route. The ruling treats the confirmation of sale as closing the matter for authorities acting under that scheme, with relief to the defaulting debtor unavailable after finality attached.</description>
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    <pubDate>Thu, 17 Nov 2016 00:00:00 +0530</pubDate>
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      <link>https://www.taxtmi.com/caselaws?id=459637</link>
      <description>A special recovery mechanism for mortgaged property required the debtor to pursue the prescribed remedy for setting aside an auction sale before confirmation, and an appellate authority could not reopen a sale once it had been confirmed and a sale certificate issued. Where the debtor failed to comply with statutory deposit conditions and earlier directions to satisfy the award, the confirmed sale attained finality and could not be undone through a residual or appellate route. The ruling treats the confirmation of sale as closing the matter for authorities acting under that scheme, with relief to the defaulting debtor unavailable after finality attached.</description>
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