The Supreme Court of India, comprising a Bench of Justice J. B. Pardiwala and Justice K. Vinod Chandran, has held that the forfeiture of Earnest Money Deposit (EMD) and subsequent deposits made by a successful auction bidder is an automatic and inevitable consequence of non-payment of the balance consideration within the stipulated timeline, provided such
E-Auction Terms Prevail Over Absence Of Express Forfeiture In Liquidation Regulations; Forfeiture Of EMD Automatic On Default: Supreme Court
