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SARFAESI | Bank Can Forfeit Entire 25% Deposit & Not Just The Extent Of Loss Due To Default By Auction Purchaser : Supreme Court

In a significant verdict, the Supreme Court held that the entire earnest money deposited by an auction purchaser would be forfeited as per Rule 9(5) of the Security Interest (Enforcement) Rules, 2002.

Tamil naduManoj misraSupreme courtHigh courtMadras high courtSecurity interestChief justiceIndian contract actAuthorized officer state bankIndian contractAnks forfeiture earnest depositAuction purchaser

Salim Ahmed vs Bank Of Baroda on 22 January, 2024

Salim Ahmed vs Bank Of Baroda on 22 January, 2024
indiankanoon.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiankanoon.org Daily Mail and Mail on Sunday newspapers.

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Union Bank Of India vs Rajat Infrastructure Pvt Ltd on 4 October, 2023

Union Bank Of India vs Rajat Infrastructure Pvt Ltd on 4 October, 2023
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Celir Llp vs Bafna Motors (Mumbai) Pvt Ltd on 21 September, 2023

Celir Llp vs Bafna Motors (Mumbai) Pvt Ltd on 21 September, 2023
indiankanoon.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiankanoon.org Daily Mail and Mail on Sunday newspapers.

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