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Victory for Bona Fide Purchaser: Supreme Court Upholds SARFAESI Auction
Case Law Details
- Case Name
- Sanjay Sharma Vs Kotak Mahindra Bank Ltd. & Ors. (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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Sanjay Sharma Vs Kotak Mahindra Bank Ltd. & Ors. (Supreme Court of India)
In a landmark judgment, the Supreme Court of India upheld the validity of an auction sale conducted under the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act). The case involved a property in Old Rajinder Nagar, New Delhi, originally owned by Champa Bhen Kundia, who had mortgaged it to Kotak Mahindra Bank in 2001. Due to non-repayment, the bank-initiated proceedings under the SARFAESI Act and auctioned the property in 2010. Sanjay S...
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