https://www.taxtmi.com/caselaws?id=793909 A secured creditor must disclose the complete and correct description of immovable secured assets, including all material particulars affecting nature and value, in the auction notice under Rule 8(7) of the Security Interest (Enforcement) Rules, 2002. A notice describing factory land, building and machinery was found defective because the flour mill did not exist, no Khasra numbers were given, part of the machinery stood on unmortgaged land, and mortgaged and unmortgaged parcels were not demarcated; an 'as is where is' clause did not cure the defect. The auction purchaser was denied delivery of the entire property but was entitled to refund of earnest money with interest and costs. en-us Wed, 01 Apr 2026 00:00:00 +0530 Fri, 26 Jun 2026 07:07:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793909 A secured creditor must disclose the complete and correct description of immovable secured assets, including all material particulars affecting nature and value, in the auction notice under Rule 8(7) of the Security Interest (Enforcement) Rules, 2002. A notice describing factory land, building and machinery was found defective because the flour mill did not exist, no Khasra numbers were given, part of the machinery stood on unmortgaged land, and mortgaged and unmortgaged parcels were not demarcated; an 'as is where is' clause did not cure the defect. The auction purchaser was denied delivery of the entire property but was entitled to refund of earnest money with interest and costs. Case-Laws Indian Laws Wed, 01 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793909