surfacei act

Querist : Anonymous (Querist) 13 December 2010 This query is : Resolved
under surfacei act if the auctioned bitter delayed the payment of the bid amount, wther bank have right to cancel that auction sale of the property?

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s.subramanian (Expert) 13 December 2010
yes.

Raj Kumar Makkad (Expert) 13 December 2010
Yes.

Uma parameswaran (Expert) 13 December 2010
Yes .Time limit is there.

Sachin Bhatia (Expert) 13 December 2010
Yes

Advocate. Arunagiri (Expert) 13 December 2010
If the payment is not received in time the bank is having all such right to cancel the allotment. The allotment will go the next bidder.

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