The Supreme Court upheld the validity of the 9th auction ...

Bank's auction upheld; borrower's challenge rejected on Res Judicata; transfer void on lis pendens.

December 18, 2024

Case Laws Indian Laws SC

The Supreme Court upheld the validity of the 9th auction conducted by the bank under the SARFAESI Act for sale of the secured asset to the petitioner. The court confirmed the sale and declared the title conferred through the sale certificate dated 27.09.2023 to be absolute. The borrower's attempts to challenge the auction proceedings at a belated stage were rejected by invoking the Henderson Principle of Constructive Res Judicata and the doctrine of lis pendens. The assignment agreement dated 28.08.2023 for transfer of the secured asset to a subsequent transferee was declared void, being hit by lis pendens. The borrower and bank were directed to cancel the release deed within one week.

View Source

← Previous Next →

The Supreme Court upheld the validity of the 9th auction ...

Bank's auction upheld; borrower's challenge rejected on Res Judicata; transfer void on lis pendens.

December 18, 2024

Case Laws Indian Laws SC

You may also like:

The Punjab and Haryana High Court addressed the legal right of a Hindu Undivided Family (HUF) to challenge auction proceedings of properties owned by the HUF. The court...

Right of the auction purchaser - Validity of Auction of properties of borrower by the Bank - Borrower sold the property subject to decision of DRT before auction by Bank...

Bonafide purchasers - Auction sale held in favour of appellant - sale challenged on the ground that the Bank had not followed the statutory procedure prescribed under...

Principle of res judicata – Constructive res judicata - if any issue or matter decided by the Court or Authority not having jurisdiction the principle of res judicata...

Right of the auction purchaser of the property - Right of the Defaulter of Loan / Borrowers to redeem the secured property - in accordance with the unamended Section...

CIRP process - Financial Creditors - In the present case, the Bank has not acted fairly - It was omission or commission of the Bank in not refunding the facility fee to...

Appellant challenged the auction sale of shares by the Liquidator, claiming undervaluation and lack of proper valuation, as shares were sold only at book value despite...

Rectification of register of members by deleting the transfer entry - transfer of shares - the action of challenging the validity of transfer deed dated December 22,...

Sale of mortgaged (scheduled) properties which was to be conducted by the Authorized Officer (Respondent No.2) of the Respondent-Bank - default in repayment of loan by...

Maintainability of application - initiation of CIRP - As such invocation of res judicata seems only an ignorance of the provisions of law. Insolvency proceedings can be...

The application seeking direction to the liquidator to put on hold the auction of the immovable asset of the Corporate Debtor and consider the proposal to sell the...

Oppression and mismanagement case - Transfer of 2500 shares by deceased challenged by appellant claiming legal heirs entitled to shares or fair price. Held: Appellant's...

Addition of surplus amount received by the assessee from jewellery auction - claimed to be returnable to the concerned borrowers - CIT has rightly deleted the addition...

Applicability of doctrine of finality and res-judicata - The High Court held that, the principles of res-judicata do not apply squarely for one assessment year to the...

TDS liability u/s 194A - assessee in default - principle of Res-judicata - In the assessee’s own case for the proceeding in respect of the Assessment Year 2014-15,...

Quick Updates: