TaxTMI 
TaxTMI 
2025 (6) TMI 197
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....kanksha Nehra and Ms. Arushi Vig, Advocates For the Respondent : Mr. Kaushal Ameta, Advocate for IRP ORDER ( Hybrid Mode ) I. A. No. 8961 of 2024 This is an application praying for condonation of 14 days delay in filing the Appeal. 2. Learned Counsel for the Appellant submits that the notice was issued in delay condonation application, but no reply has been filed. We find sufficient cause has been shown in the delay condonation application. Delay is condoned. 3. I.A. No. 1706 of 2024 This is an application praying for condonation of 14 days' delay in filing the Appeal. Notices were issued, but no reply has been filed. We find sufficient cause has been shown in the delay condonation application. Delay is condoned. 4. ....
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....rity challenging the auction. The Adjudicating Authority vide impugned order has declared the sale held in violation of Section 14(1)(c) of the IBC and had set aside the sale. In para 5 & 6 Adjudicating Authority has held as under: ".... 5. We are supported by the judgment of "Indian Overseas Bank Vs. RCM Infrastructure Ltd" decided by Hon'ble Apex Court vide order dated 18.05.2022. Relevant para is quoted as under:- "In view of the provisions of Section 14(1)(c) of the IBC, which have overriding effect over any other law, any action to foreclose, recover or enforce any security interest created by the Corporate Debtor in respect of its property including any action under the SARFAESI Act is prohibited. We are....
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....pact of the amended section 13(8) of the Act on the borrower's right of redemption in an auction conducted under the Act? Or in other words, what is the effect of amendment to Section 13(8) of the Act r/w Section 60 of the 1882 Act?" 33. In this regard, the Hon'ble Supreme Court has held that "in view of the aforesaid discussion, we hold that as per the amended section 13(8) of the Act, once the borrower fails to tender the entire amount of dues with all costs and charges to the secured creditor before the publication of auction notice, his right of redemption of mortgage shall stand extinguished / waived on the date of publication of the auction notice in the newspaper in accordance with Rule 8 of the 2002 Rules." 34. In ....
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....Appellant did not move to redeem the property by making the payment of the Bank. However, the first sale could not take place, therefore, the public notice was again published scheduling the sale of the properties on 28.01.2019. In that sale, the Bank itself purchased the property which is permitted under Section 13(5A) & 13(5B) of the Act and adjusted the amount which it had to recover from the CD. 37. The jural relationship between the parties in respect of second property also came to an end on 03.01.2019 or 28.01.2019 which was much earlier than the date of commencement of CIRP on 01.02.2019. In this case, even the letter of confirmation was issued on 28.01.2019 and sale certificate was issued on 30.01.2019 much before the date....