DART Kolkata Set Aside DRT Order for Ignoring Proof of Statutory Sale Notice Service

AO Vs Sri Vijaylakshmi Raw & Boiled Rice Mill (DART Kolkata) The appeal before the Debts Recovery Appellate Tribunal, Kolkata arose from an order dated 24 December 2024 passed by the Debts Recovery Tribunal, Visakhapatnam in S.A. No. 588 of 2023. By the impugned order, the DRT had allowed the securitisation application, set aside the sale notice and the e-auction sale, cancelled the sale deed, and directed the bank to return the sale consideration to the auction purchaser along with interest at the rate of 9% per annum. Aggrieved by this decision, the appellant bank preferred the present a...