https://www.taxtmi.com/caselaws?id=772084 An auction sale under SARFAESI was held not to be invalidated merely because confirmation or payment occurred after commencement of the corporate insolvency resolution process, where the auction notice and sale process had already begun before insolvency and the statutory process had materially progressed. The Tribunal applied the amended Section 13(8) framework and noted that the mortgagor-mortgagee relationship for redemption purposes ends upon issuance of the sale notice in the manner recognised by the provision. It also emphasised protection of completed public auction proceedings. The sale was therefore not treated as a post-moratorium action and was not liable to be set aside under Section 14(1)(c) of the Insolvency and Bankruptcy Code. en-us Mon, 05 May 2025 00:00:00 +0530 Wed, 04 Jun 2025 08:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772084 An auction sale under SARFAESI was held not to be invalidated merely because confirmation or payment occurred after commencement of the corporate insolvency resolution process, where the auction notice and sale process had already begun before insolvency and the statutory process had materially progressed. The Tribunal applied the amended Section 13(8) framework and noted that the mortgagor-mortgagee relationship for redemption purposes ends upon issuance of the sale notice in the manner recognised by the provision. It also emphasised protection of completed public auction proceedings. The sale was therefore not treated as a post-moratorium action and was not liable to be set aside under Section 14(1)(c) of the Insolvency and Bankruptcy Code. Case-Laws IBC Mon, 05 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772084