Notice of sale issued without giving 15 days clear notice under Sarfaesi Act was bad in law

Advertisement E. K. RAJAN Vs Authorized Officer (Kerala High Court) Conclusion: Since there was a failure on the part of the respondent to serve notice of not less than 15 days upon assessee, therefore, the notice of sale proposing to auction the property of the was bad in law and the consequent sale was liable to be set aside. Held: In the instant case, due to default in repayment of loan, the loan account of assessee was declared as NPA and a notice under Section 13(2) of the SARFAESI Act was issued to the assessee. Subsequently, possession of assessee’s property was taken over unde...