https://www.taxtmi.com/caselaws?id=797986 Forfeiture of a successful auction bidder's part sale consideration before expiry of an extended payment period was inconsistent with liquidation-sale terms permitting delayed payment with interest. Regulation 33 and Schedule I contemplated payment beyond the original due date where an extension had been granted; cancellation and forfeiture during that period were therefore premature. Retaining the deposit after a subsequent higher-value sale would result in unjust enrichment. Section 74 of the Indian Contract Act did not support forfeiture before the modified payment period ended. The deposited sale consideration was refundable without interest. en-us Tue, 14 Jul 2026 00:00:00 +0530 Tue, 01 Sep 2026 08:26:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797986 Forfeiture of a successful auction bidder's part sale consideration before expiry of an extended payment period was inconsistent with liquidation-sale terms permitting delayed payment with interest. Regulation 33 and Schedule I contemplated payment beyond the original due date where an extension had been granted; cancellation and forfeiture during that period were therefore premature. Retaining the deposit after a subsequent higher-value sale would result in unjust enrichment. Section 74 of the Indian Contract Act did not support forfeiture before the modified payment period ended. The deposited sale consideration was refundable without interest. Case-Laws IBC Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797986