https://www.taxtmi.com/caselaws?id=799808 Rule 9(3) to 9(5) of the Security Interest (Enforcement) Rules, 2002 requires an auction purchaser to make the prescribed deposit immediately and pay the balance within the statutory period; any extension must rest on a written agreement. Acceptance of sale consideration 448 days after bid opening, without a written extension or permission to proceed despite an interim order, breached that mandatory procedure. Equitable considerations cannot override statutory requirements. Non-compliance vitiates the auction sale, acceptance of delayed consideration, and consequential sale certificate. en-us Wed, 05 Aug 2026 00:00:00 +0530 Mon, 28 Sep 2026 08:12:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799808 Rule 9(3) to 9(5) of the Security Interest (Enforcement) Rules, 2002 requires an auction purchaser to make the prescribed deposit immediately and pay the balance within the statutory period; any extension must rest on a written agreement. Acceptance of sale consideration 448 days after bid opening, without a written extension or permission to proceed despite an interim order, breached that mandatory procedure. Equitable considerations cannot override statutory requirements. Non-compliance vitiates the auction sale, acceptance of delayed consideration, and consequential sale certificate. Case-Laws Indian Laws Wed, 05 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799808