This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Non-payment of balance sale consideration results into forfeiture of earnest money deposit
Case Law Details
- Case Name
- Kamal Vs Authorised Officer (DRAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Kamal Vs Authorised Officer (DRAT Chennai)
DRAT Chennai held that rule 9(5) of Security Interest (Enforcement) Rules, 2002 empowers forfeiture of earnest money deposit when balance sale consideration is not paid within stipulated time. Accordingly, order confirmed and appeal is dismissed.
Facts- The appeal was filed against the sale held in respect of schedule mentioned property, on 29.05.2018. It is the case of the Appellant that Respondent No. 2 is the Partnership Firm, in which Respondent Nos. 3 and 4 are the partners. He mortgaged the schedule property for the loan availed by the 2nd Respo...
Author Info
