GANGTOK, India, Aug. 29 -- Sikkim High Court issued the following judgment/order on Aug. 13:
The moot question 1. The question that falls for determination is whether the writ petition filed in the year 2020 by the auction purchaser who had participated in an auction sale of the immovable property of the secured creditor under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (the SARFAESI Act) in the year 2011 but failed to pay the deposit of 25% of the sale price as required under Rule 9(3) or pay the balance within the time frame under Rule 9(4) of the Security Interest (Enforcement) Rules, 2002 (the SI Rules), should be allowed?
The parties
2. Meena Jha (the petitioner) was the au...