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IN THE HIGH COURT OF KERALA AT ERNAKULAM
MR. NITIN JAMDAR, CJ, MR. S. MANU, J
M/S. EVERSPACE REALTY LLP. – Appellant
Versus
M/S. VASU COCO RESORTS PVT. LTD. – Respondent
| Table of Content |
|---|
| 1. overview of appeals and proceedings. (Para 1 , 2 , 3 , 4 , 5 , 6) |
| 2. details of borrower’s objections and previous rulings. (Para 7 , 8 , 9) |
| 3. evaluation of auction validity and statutory compliance. (Para 10 , 14 , 15 , 34) |
| 4. arguments on collusion and legality of auction. (Para 11 , 20 , 22) |
| 5. decision to remand case for factual findings. (Para 12 , 35 , 46) |
| 6. court’s reasoning regarding statutory adherence. (Para 18 , 19 , 25) |
| 7. final orders and directions from the court. (Para 47 , 48) |
JUDGMENT
Dated this the 30th day of July, 2025.
Nitin Jamdar, C.J.
These two appeals are filed by the Creditor Bank and the Auction Purchaser challenging the judgment of the learned Single Judge by which the writ petition filed by the Borrower was allowed setting aside the orders passed by the Debt Recovery Tribunal and Debt Recovery Appellate Tribunal, and the sale of the secured assets.
2. W.A. No. 2124 of 2024 is filed by the Creditors, the Authorised Officer and the Deputy General Manager of the State Bank of India, (hereinafter referred to as 'the Bank'), and W.A. No. 2005 of 2024 is filed by the Auction Purchaser, M/s. Everspace Realty LLP., (hereinafter referred to as 'the Au
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