LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

gaurav (student)     15 June 2010

SALE CERTIFICATE ISSUAL under SARFAESI SALE IS IT TIME BOUND

In case all the formalities have been completed by auction purchaser in SARFAESI AUCTION 13(4)like

1 highest bid

2 above reserve price 

3 public auction purchase

4 borrower not challenging auction 

5 borrower not depositing money

5 confirmation done by authorised officer

6 sale consideration deposited within time

question-------A.what is the time period for issue of sale certificate by  authorised officer?

B.can any one quote any judgement ?

C.can the bank/secured creditor cancel  the sale even after above mentioned circumstances



Learning

 2 Replies

gaurav (student)     15 June 2010

also please tell me the ground of denial to issue sale certificate ........

Ramdas Doiphode (service)     01 August 2010

Sale certificate is to be issued immediately on making fullpayment or 30 days if stipulated. Bank can cancellit provided it is specifically mentioned in public notice, but before accepting bids, money.Not thereafter.

Judgements are there but not handy withme rightnow.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register