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Right of redemption retained with borrower under SARFAESI Act till sale is confirmed
Case Law Details
- Case Name
- Gajanan Highrise Private Limited Vs Uco Bank & Ors (Calcutta High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Calcutta High Court
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Gajanan Highrise Private Limited Vs Uco Bank & Ors (Calcutta High Court)
Calcutta High Court held that the right of redemption retained with the borrower under section 13(8) of SARFAESI Act till the Sale is confirmed and sale certificate is issued. Accordingly, revisional applicable is liable to be set aside.
Facts- Opposite Party No 3 Bank issued the possession cum sale notice by inviting tender dated 30.12.2009. The petitioner submitted his bid and was declared successful bidder. Petitioner deposited a total amount of RS 17,50,000/-being the 25% of the total Bid and(including) the earne...
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