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SUBODH ABHYANKAR
In Ref. Maheshwari Proteins Ltd. – Appellant
Versus
Recd. From Bifr New Delhi – Respondent
JUDGMENT :
Subodh Abhyankar, J.
Heard on I.A. No. 3058/2022.
2. This application has been filed by the applicants herein seeking the following reliefs :—
(ii) Issuing the appropriate injunction/ direction/ order for quashing/setting aside the proceeding initiated by Sub-Divisional Officer, City Ratlam, District Ratlam (M.P) against applicants No. 1 to 4 upon application dated 15-3-2022 filed by M/s Saad Trading Company for recovery of actual physical possession from the applicants No. 1 to 4;
(iii) Issuing direction/order passed for quashing the order passed by the Tehsildar for formulating the team for recovery of actual physical possession from the applicants No. 1 to 4 and Panchnama prepared by Revenue Authorities dated 28-3-2022;
(iv) Granting permission for filing the appropriate Civil Suit for declaration and permanent and mandatory injunction against non-applicant No. 1 to 6 against forcible dispo
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 borrower's right of redemption is extinguished upon the publication of the auction notice, allowing the auction purchaser to claim possession.
Possession continues until lawful dispossession occurs, with title passing to the auction purchaser upon full payment, regardless of sale certificate issuance.
Mandatory compliance with procedural requirements under the SARFAESI Act is essential; failure to adhere prejudices borrowers' rights and invalidates auction proceedings.
Point of Law : Records produced, explicitly show the absence of any bonafide or real disputed questions of fact, this Court must step in to aid enforcement of rule of law.
Authorized officer is not expected to adjudicate the contentious issues raised by the concerned parties but only verify the compliance referred to in the first proviso of Section 14 and being satisfi....
Order of the Tribunal it is not discernible as to whether any application for condonation of delay was filed or how the Tribunal dealt with the belated approach of the borrowers.
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