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IN THE HIGH COURT AT CALCUTTA
RAI CHATTOPADHYAY
Arnab Dutta – Appellant
Versus
Authorized Officer, Canara Bank – Respondent
| Table of Content |
|---|
| 1. factual background of the auction purchase and nondelivery of possession. (Para 1 , 2 , 12) |
| 2. parties' contentions regarding breach of duty, alternative remedies, and maintainability of the writ petition. (Para 3 , 4 , 5 , 6 , 7) |
| 3. statutory obligations of secured creditors to disclose encumbrances precisely. (Para 8 , 9 , 10 , 14) |
| 4. shift from caveat emptor to caveat venditor; bank's liability to refund consideration for failure to provide clear title. (Para 11 , 13 , 15 , 16 , 17) |
| 5. cancellation of auction and directive for refund of consideration. (Para 18 , 19) |
JUDGMENT :
RAI CHATTOPADHYAY, J.
1. The writ petitioner is the auction purchaser of the property admeasuring about three Kathas, situated at Mouza-Bongpur, Telipukur More Bypass, G.T. Road. Police Station - Sreepalli, District - Burdwan. He has been granted the final ‘sale-certificate’ by the Bank, dated 24th March, 2016 in which the Bank has acknowledged receipt of the sale price in full, from the petitioner and declared to hand over and deliver the possession of the said property to the writ petitioner. It has further declared that the sale was made free from all encumbrances.
2. The petitioner alleges t
Secured creditors must fully deliver the auctioned property and disclose material defects; failure to do so incurs liability for damages, including refunds with interest.
The specific and stringent conditions of an auction sale notice, the waiver of statutory rights by the purchaser, and the inapplicability of precedent in determining the legal position under the SARF....
A petitioner who has successfully participated in an auction sale conducted by a Bank under the SARFAESI Act, 2002 is entitled to refund of the entire money with interest if there has been a misrepre....
Suppression of pending litigation in the e-auction notice by a secured creditor is improper and violates the duty to disclose encumbrances and pending litigation as per the Securitization and Reconst....
A secured creditor, who got registration of security interest, has priority in the matter of payment of the dues over all other debts and all revenues, taxes, cesses and other rates payable to the Ce....
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