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IN THE HIGH COURT OF KERALA AT ERNAKULAM
BASANT BALAJI, J
NIZARUDHEEN M. – Appellant
Versus
THE AUTHORISED OFFICER, ASSET RECONSTRUCTION COMPANY (INDIA) LTD. – Respondent
| Table of Content |
|---|
| 1. the petitioner was the successful bidder but failed to comply with payment terms. (Para 1 , 2 , 3) |
| 2. the petitioner sought exemption from payment deadlines based on prior case outcomes. (Para 4 , 5 , 6) |
| 3. court discussed the legal consequences of non-payment under relevant rules. (Para 7 , 8 , 9) |
JUDGMENT
(Dated this the 18th day of February 2026)
The petitioner has participated in an e - auction conducted by the respondent company. The auction was held for sale of 5 items of immovable property. The sale was conducted on 17.3.2025 and the petitioner was declared as the sole and successful bidder for all the 5 properties. Sale confirmation letters were issued to the petitioner as per Ext.Nos.P-2(a) to 2(e). The petitioner deposited 25% of bid amount, but could not remit the balance 75% of the amount in time. So, an extension of time was sought, and the respondent extended the time till 14.6.2025.
2. On 30.5.2025, the petitioner remitted the balance amount in respect of item No.2 property and the balance in respect of item No.5 property on 31.5.2025. However, in respect of properties, namely item Nos.1, 3 and 4, the petitioner could not remit the balance amount. The
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