Auction Purchaser DRT Legal Advice

SARFAESI Auction Sale- Purchaser Protection in DRT

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SARFAESI Auction Sale- Purchaser Protection in DRT

Why SARFAESI Auction Sale Must Be Conducted Fairly and Transparently for fostering Confidence in the SARFAESI framework depends upon balancing recovery rights with procedural justice. Recovery proceedings under the SARFAESI Act frequently culminate in public auctions of secured assets. A recent matter before the Debt Recovery Tribunal, Chandigarh, once again highlights the importance of transparency, … Read more

DRT Case Return of Amount to Auction Purchaser

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DRT Case Return of Amount to Auction Purchaser

In DRT cases, if an auction sale is set aside due to irregularities, legal flaws, or bank default, the auction purchaser is entitled to a full refund of the deposited amount, often with interest (typically 12-15% p.a. or fixed deposit rates). Purchasers can approach the DRT under Section 17 of the SARFAESI Act to claim … Read more

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