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SUPREME COURT OF INDIA
CELIR LLP – Appellant
Versus
MR. SUMATI PRASAD BAFNA – Respondent
The confirmation of sale under SARFAESI signifies the finality of the auction, transferring full ownership rights to the purchaser (!) . Once a sale is confirmed, it is considered absolute, and no further deed or transfer from the court is required (!) . The sale, upon confirmation, cannot typically be challenged unless there are serious procedural irregularities, fraud, or collusion that affect its validity (!) (!) . The sale certificate issued after confirmation serves as conclusive proof of transfer and is binding (!) (!) . The process aims to provide finality, and the sale is generally immune from challenge once confirmed, provided statutory procedures are meticulously followed (!) (!) .
JUDGMENT
J.B. PARDIWALA, J.:
For the convenience of exposition, this judgment is divided into the following parts: -
INDEX A. FACTUAL MATRIX ................................................................................ 3
i. Facts leading upto the Decision of this Court in Civil Appeal Nos. 5542- 5543 of 2023............................................................................................. 3
ii. Developments during the pendency of Civil Appeal Nos. 5542-5543 of 2023. ....................................................................................................... 10
iii. Subsequent Developments and the Acts alleged to be in contempt thereof. .................................................................................................. 13
B. SUBMISSIONS OF THE PARTIES ...................................................... 20
i. Submissions of the Successful Auction Purchaser / the petitioner..... 20
ii. Submissions of the Borrower / the respondent no. 1........................... 28
iii. Submissions of the Subsequent Transferee / respondent nos. 2 & 4. . 38
iv. Submissions of the Bank / the respondent no. 3. ................................. 45
C. ISSUES FOR D
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