The Supreme Court upheld the rights of auction purchasers under the SARFAESI Act and directed the timely transfer of possession.
The Supreme Court Bench of Justice Vikram Nath and Justice Prasanna Bhalachandra Varale reviewed multiple civil appeals and applications, addressing distinct procedural and substantive issues. The Court emphasized the enforcement of auction purchasers' rights under the SARFAESI Act by directing the Sangli Sahakari Bank Ltd. to hand over possession of the auctioned properties, clarifying that the modification applied only to the specific properties in question while maintaining the status quo for others. Additionally, the Court underscored procedural efficiency in pending matters by granting extensions and resolving substitution-related issues.
The Supreme Court addressed multiple civil appeals and applications, resolving distinct procedural and substantive issues. In C.A. No. 575 of 2020, an application for withdrawal was allowed, resulting in the dismissal of the appeal as withdrawn.
In C.A. Nos. 5470 and 5471 of 2019, the Court considered applications seeking directions to the Sangli Sahakari Bank Ltd. regarding the handover of possession of auctioned properties under the SARFAESI Act. The auction purchasers faced obstacles in obtaining physical possession due to an earlier status quo order dated January 28, 2019. Counsel for the Sangli Sahakari Bank Ltd. and its administrative officer appeared and expressed no objection to the requested directions. Consequently, the Court allowed the applications, directing the Sangli Sahakari Bank Ltd. to hand over possession of the auctioned properties to the purchasers within one week. The Court clarified that this modification applied solely to the properties in question and did not affect the status quo order concerning other properties.
In C.A. No. 5456 of 2019, an application seeking substitution of a deceased appellant was addressed. The Court noted that the legal heir of the deceased appellant was already on record as appellant no.3 and directed the necessary correction in the cause title.
Additionally, the Court dealt with a procedural matter concerning the State of Maharashtra. By an earlier order dated August 2, 2023, the State had been required to submit a detailed chart outlining the status of land in individual cases. Upon a request for an extension, the Court granted the State an additional week to circulate the chart among the counsel for all parties and file it with the Court. Parties were also granted a further week to review the chart and allowed to file additional documents in the meantime. The matters were listed for further hearing on August 21, 2024.
Through these directions, the Court ensured procedural clarity, the enforcement of auction purchasers' rights under the SARFAESI Act, and progress in pending matters while maintaining fairness for all parties involved.
Subscribers can access the Case, including Case Analysis, Ratio Decidendi, Headnotes, Briefs, Case Research, Cited Case Laws, Case Law Cross-references, and the latest updates on Statutes, Notifications, Circulars, Guidelines, Press Releases and more.
Click on the Citation/Link to access these resources
Kommentare