Auction Law

Supreme Court Upholds Auction Sale: IDBI Bank vs. Ramswaroop Daliya (2024) INSC 780

/ Auction Law, Constitutional Law, Constitutional Law with Article 142, Natural Justice, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Security Interest (Enforcement) Rules, 2002 with Rule 9(4), Security Interest (Enforcement) Rules, 2002 with Rule 9(5)

Supreme Court Upholds Auction Sale: IDBI Bank vs. Ramswaroop Daliya (2024) INSC 780 LEGAL ISSUE: Whether an auction sale can be cancelled if the auction purchaser fails to deposit the balance amount within the stipulated time, especially when the delay is not attributable to the purchaser. CASE TYPE: Auction Law, Securitisation and Reconstruction of Financial […]

Supreme Court Upholds Auction Sale: IDBI Bank vs. Ramswaroop Daliya (2024) INSC 780 Read Post »

Supreme Court Upholds Auction Cancellation for Non-Payment: Jammu Development Authority vs. S. Paramjeet Singh (2023)

/ Auction Law, Breach of contract, Contract Law, Contract Law with Letter of Intent, Property Law, Property Law with Allotment

Supreme Court Upholds Auction Cancellation for Non-Payment: Jammu Development Authority vs. S. Paramjeet Singh (2023) LEGAL ISSUE: Whether the Jammu Development Authority (JDA) was justified in canceling the allotment of a plot due to non-payment of the full premium amount by the auction winner. CASE TYPE: Civil Law, Property Law, Auction Law. Case Name: Jammu

Supreme Court Upholds Auction Cancellation for Non-Payment: Jammu Development Authority vs. S. Paramjeet Singh (2023) Read Post »

Supreme Court Sets Aside Auction of Sick Company’s Assets Due to Procedural Flaws: Rajiv Kumar Jindal vs. BCI Staff Colony (27 April 2023)

/ Ajay Rastogi, Auction Law, Bela M. Trivedi, Judges, Public Auction, Sick Industrial Companies Act, 1985, Sick Industrial Companies Act, 1985 with Section 18(2)(k), Sick Industrial Companies Act, 1985 with Section 20(4), Sick Industrial Companies Act, 1985 with Section 21(c)

Supreme Court Sets Aside Auction of Sick Company’s Assets Due to Procedural Flaws: Rajiv Kumar Jindal vs. BCI Staff Colony (2023) LEGAL ISSUE: Whether the auction of a sick company’s assets was valid when the Operating Agency failed to follow mandatory procedures. CASE TYPE: Insolvency and Corporate Law Case Name: Rajiv Kumar Jindal and Others

Supreme Court Sets Aside Auction of Sick Company’s Assets Due to Procedural Flaws: Rajiv Kumar Jindal vs. BCI Staff Colony (27 April 2023) Read Post »

Supreme Court Orders Refund of Forfeited Amount in Auction Dispute: Mohd. Shariq vs. Punjab National Bank (2023)

/ Ajay Rastogi, Auction Law, Bela M. Trivedi, Judges, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with Rule 9(5)

Supreme Court Orders Refund of Forfeited Amount in Auction Dispute: Mohd. Shariq vs. Punjab National Bank (2023) LEGAL ISSUE: Whether a bank can forfeit the earnest money of a successful bidder when the bidder was not informed about pending legal proceedings related to the auctioned property. CASE TYPE: Securitisation and Reconstruction of Financial Assets and

Supreme Court Orders Refund of Forfeited Amount in Auction Dispute: Mohd. Shariq vs. Punjab National Bank (2023) Read Post »

Supreme Court clarifies auction sale obligations in Rajasthan Financial Corporation vs. Jain Bandhu Sneh Resorts (27 April 2022)

/ Auction Law, B.R. Gavai, Civil Law, Contract Law, Default, Financial Corporation, Judges, L. Nageswara Rao

Rajasthan Financial Corporation vs. Jain Bandhu Sneh Resorts: Supreme Court on Auction Sales LEGAL ISSUE: Whether a sale in auction can be set aside solely on the ground of price escalation. CASE TYPE: Civil, Contract Law, Auction Law Case Name: Rajasthan Financial Corporation vs. M/s Jain Bandhu Sneh Resorts Private Limited Judgment Date: 27 April

Supreme Court clarifies auction sale obligations in Rajasthan Financial Corporation vs. Jain Bandhu Sneh Resorts (27 April 2022) Read Post »

Supreme Court Upholds Municipal Authority’s Right to Reject Auction Sale: Municipal Committee, Barwala vs. Jai Narayan and Company (2022)

/ Haryana Municipal Act, 1973, Haryana Municipal Act, 1973 with Section 250, Haryana Municipal Act, 1973 with Section 61, Haryana Municipalities Management of Municipal Properties and State Properties Rules, 1976, Haryana Municipalities Management of Municipal Properties and State Properties Rules, 1976 with Rule 2, Hemant Gupta, Judges, Property Law, Public Auction, V. Ramasubramanian

Supreme Court Upholds Municipal Authority’s Right to Reject Auction Sale: Municipal Committee, Barwala vs. Jai Narayan and Company (2022) LEGAL ISSUE: Whether a successful bidder in a public auction has a legal right to demand execution of a sale deed if the auction is not confirmed by the competent authority. CASE TYPE: Civil Law –

Supreme Court Upholds Municipal Authority’s Right to Reject Auction Sale: Municipal Committee, Barwala vs. Jai Narayan and Company (2022) Read Post »

Supreme Court Upholds State’s Right to Reject Highest Bid in Public Auction: State of Punjab vs. Mehar Din (2022)

/ Abhay S. Oka, Ajay Rastogi, Contract Law, Judges, Judicial Review, Public Auction, Punjab Package Deal Properties (Disposal) Act, 1976, Punjab Package Deal Properties (Disposal) Act, 1976 with Rule 8, Punjab Package Deal Properties (Disposal) Rules, 1976, Scope of Judicial Review

Supreme Court Upholds State’s Right to Reject Highest Bid in Public Auction: State of Punjab vs. Mehar Din (2022) LEGAL ISSUE: Whether the State is bound to accept the highest bid in a public auction. CASE TYPE: Public Auction/Contract Law Case Name: State of Punjab & Others vs. Mehar Din [Judgment Date]: March 2, 2022

Supreme Court Upholds State’s Right to Reject Highest Bid in Public Auction: State of Punjab vs. Mehar Din (2022) Read Post »

Supreme Court Upholds Auction Sale: Deenadayal Nagari Sahakari Bank Ltd. vs. Munjaji (2022)

/ Auction Law, Auction Sale, B.V. Nagarathna, Judges, M.R. Shah, Maharashtra Co-operative Societies Act, 1960, Maharashtra Co-operative Societies Act, 1960 with Section 101, Maharashtra Co-operative Societies Rules, 1961 with Rule 107, Recovery of Debt

Supreme Court Upholds Auction Sale: Deenadayal Nagari Sahakari Bank Ltd. vs. Munjaji (2022) LEGAL ISSUE: Whether the High Court was right in setting aside an auction sale due to alleged procedural irregularities under the Maharashtra Co-operative Societies Rules, 1961. CASE TYPE: Recovery of Debt/Cooperative Law Case Name: Deenadayal Nagari Sahakari Bank Ltd. & Another vs.

Supreme Court Upholds Auction Sale: Deenadayal Nagari Sahakari Bank Ltd. vs. Munjaji (2022) Read Post »

Supreme Court Upholds Auction Cancellation in Property Sale Case: Sankalp Recreation vs. Union of India (2019)

/ Auction Law, Cancellation of Auction, Income Tax Act, 1961, Income Tax Act, 1961 with Section 269UD(1), Judges, R. F. Nariman, Surya Kant

Supreme Court Upholds Auction Cancellation in Property Sale Case: Sankalp Recreation vs. Union of India (2019) LEGAL ISSUE: Whether the cancellation of an auction process by the government, despite a highest bid above the reserve price, is valid. CASE TYPE: Civil Appeal, Property Law, Auction Law. Case Name: Sankalp Recreation Private Limited vs. Union of

Supreme Court Upholds Auction Cancellation in Property Sale Case: Sankalp Recreation vs. Union of India (2019) Read Post »

Supreme Court rules against forfeiture of security deposit in auction case: Suresh Kumar Wadhwa vs. State of M.P. (25 October 2017)

/ Abhay Manohar Sapre, Auction Law, Breach of contract, Forfeiture Clause, Indian Contract Act, 1872, Indian Contract Act, 1872 with Section 74, Judges, Public Auction, R.K. Agrawal, Security Deposit, Terms and Conditions

Date of the Judgment: 25 October 2017 Citation: (2017) INSC 923 Judges: R.K. Agrawal, J. and Abhay Manohar Sapre, J. Can a government body forfeit a security deposit when the terms of the auction were not fully disclosed? The Supreme Court of India addressed this question in a case involving a public auction of land.

Supreme Court rules against forfeiture of security deposit in auction case: Suresh Kumar Wadhwa vs. State of M.P. (25 October 2017) Read Post »

Supreme Court Orders Fresh Auction of Metallurgical Coke: LMJ International Ltd. vs. Dankuni Steels Limited (2017)

/ A.K. Sikri, Arbitration and Conciliation Act, 1996, Arbitration and Conciliation Act, 1996 with Section 9, Ashok Bhushan, Auction Law, Court-Ordered Auctions, Fair Market Value, Judges, Reserve Price

Can a court accept a bid in an auction if the offered price, after deducting taxes, falls below the reserve price? The Supreme Court of India addressed this question in a recent case concerning the sale of metallurgical coke. This case highlights the importance of ensuring fair value in court-ordered auctions. The judgment was delivered

Supreme Court Orders Fresh Auction of Metallurgical Coke: LMJ International Ltd. vs. Dankuni Steels Limited (2017) Read Post »

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