Unilateral Cancellation of Auction Sale by Bank Violates Principles of Natural Justice: Supreme Court

In a significant ruling, the Supreme Court of India has upheld the rights of auction purchasers while dismissing IDBI Bank’s appeal against a High Court judgment. The court observed that the bank’s unilateral cancellation of an e-auction sale violated the principles of natural justice and directed IDBI Bank to issue the sale certificate and execute

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