Supreme Court Ruling: Entire 25% Deposit Forfeited in SARFAESI Cases
In a landmark decision, the Supreme Court has asserted that the complete earnest money submitted by an auction purchaser can be forfeited in accordance with Rule 9(5) of the Security Interest (Enforcement) Rules, 2002 (SARFAESI Rules) if the remaining amount is not deposited within the specified period. Rejecting the Madras High Court’s perspective that the …
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