Tuesday 22 April 2014

SC upheld order of DRT dismissing sale of secured asset by creditors as it hadn't been conducted pro

SARFAESI: Where sale did not take place pursuant to a notice issued under Rules 8 and 9 of Security Rules, 2002, read along with section 13(8), for reasons which could not be solely attributable to borrower, secured creditor could not effect sale or transfer of secured asset on any subsequent date by relying upon notice issued earlier


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