Legal Question in Banking Law in
A bank which has auctioned and got the full payment from the bidder, does not hand over the possession. The property is in occupation of persons related to the debtor. Can they auction it before getting the possession?
Asked on 10/04/10, 10:00 am
2 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
they cannot auction it before taking possession of the same and in case they have auctioned it on as is where is basis, nothing can be done in favour of buyer.
Answered on 10/04/10, 10:51 am
Vishwa Arya
Arya & Co.
yes they may auction on as is where is basis. You will have to move an application bfore the tribunal for the possession and title documents
Answered on 10/04/10, 10:59 am
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