SARFAESI Auction Cannot Claim Finality If Mandatory Sale Procedure Is Violated: Supreme Court Sets Aside Ooty Resort Sale

The Supreme Court has held that the principle protecting the finality of auction sales applies only when the auction itself has been conducted in accordance with law. A Bench of Justice Pamidighantam Sri Narasimha and Justice Alok Aradhe set aside the auction sale of an Ooty resort after finding multiple violations of the mandatory procedure

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