Sale not held in manner required under SARFAESI Act is liable to be set aside

Authorised Officer Vs Dr. Premchander (DRAT Chennai) DRAT Chennai held that since sale not held in the manner required under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [SARFAESI Act] hence the same is liable to be set aside. Accordingly, appellant is directed to refund the sale consideration with 6% interest. Facts- This appeal is filed under Section 18 of the SARFAESI Act, challenging the order dated 31.08.2017 passed by DRT – 1, Chennai. The first respondent before the DRT, filed this appeal. 1st respondent, as...